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In New Zealand, lawyers are theoretically obliged to be available to clients on a first-come first-served basis, like a taxi waiting in a taxi stand. This obligation is known colloquially as the ‘cab-rank rule’, and similar formulations can be found in the rules of the legal profession in other countries also.
In its detailed & official formulation[1], the […]

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By Bumbu
In this post, I summarise the basic economic background surrounding international trade and how this can affect developing countries. It covers the basic economic attractions of international trade for developing countries, some sorts of government intervention in such trade and reasons for and against these[1].
The place to begin is with the important concepts of […]

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By Bumbu
A developing country’s policy to promote development rests on many factors. One factor is the economic arguments for and against the policy. This comes up often in debates about whether developing countries should be liberalising their economies and committing to free trade or not. Another important factor is the domestic political situation. Here I describe a […]

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This is a sumamry of Francisco Rodriguez and Dani Rodrik’s 1999 paper, “Trade Policy and Economic Growth: A Skeptic’s guide to Cross-National Evidence”, published by the National Bureau of Economic Research. It is available in full at http://www.nber.org/papers/w7081
 
Several recent studies have investigated the systematic relation between growth and trade or growth and liberalization using empirical […]

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