tries around the world have implemented a series of neoliberal policies aimed at redefining the role of the state in the economy. This trend has been particularly pronounced in infrastructure industries such as telecommunications, electricity, water, sanitation, and transportation, in which state-owned enterprises long enjoyed monopolies. “Market-oriented” reform in these industries has include...

Over the last few years electricity markets are going through liberalization and modernization processes, which have resulted in introduction of smart grids. The Power Trading Agent Competition (Power TAC) is a simulation platform for evaluating trading strategies for the smart grid electricity markets: the tariff and the wholesale market. This paper gives an outline of our proposed strategies ...

MARKET STRUCTURE, TRADE LIBERALIZATION AND THE GATS J.F. Francois and I. Wooton Abstract: In this paper we consider the impact of improved domestic market access for a foreign service provider. We emphasize the interaction between the different modes of market access commitments in services (cross-border and establishment) market structure, and regulation. We work with a model where the domesti...

The existing disappointment with the performance of transition economies is unjustified as far as the contraction of their industries, real wages and capital formation in the 1990s is concerned. The initial under-performance of transition economies that had inherited more severe shortages, as in former Soviet Republics, is to be expected also. We establish these results by estimating what align...

This paper quantifies the effects of trade liberalization on local labor market outcomes and workers’ migration patterns. I extend the classic specific-factors model to examine the impact of national price changes on local labor markets. The model describes how tariff changes across industries affect wages in local labor markets within the liberalizing country. In particular, wages will fall in...

In this paper, we study the effect of legal reforms and institutional changes on credit market development and the low level of unpaid debt in the Chilean banking sector. Using time series data on yearly basis (1960-1997), we conclude that both information sharing and deep financial market liberalization during the seventies are positively related to the credit market development. Moreover, usi...

Rules governing the global environment and the international economy are currently decided in separate arenas. Yet, environmental agreements can have strong economic implications, particularly with the growing use of market mechanisms. Economic liberalization rules, meanwhile, may limit the effectiveness of environmental agreements. This paper assesses the potential interaction between one impo...

The emergence of economic crises has forced countries to reform the development strategy with a view to improving economic management. The intervention of governments in the free functioning of the market to reduce social problems by paying subsidies in general and fixing prices have a lot of problems Which makes the information provided by the companies unrealistic and unviable. The most impor...

Capital-account liberalization was once seen as an inevitable step along the path to economic development for poor countries. Liberalizing the capital account, it was said, would permit financial resources to flow from capitalabundant countries, where expected returns were low, to capital-scarce countries, where expected returns were high. The flow of resources into the liberalizing countries w...

The objective of the paper is to seek how financial growth affects economic growth in Turkey in the flourishing world. The financial market is changed and developed very rapidly in the last decade. Moreover the change of financial market has also been brought some innovations and new policies. So this study examines whether financial development leads to economic growth in Turkey. The main elem...