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Studies on the economic impact of the Uruguay Round of the GATT have frequently suggested that all or almost all countries–developed and developing–will gain. In the present paper it is argued that the number of developing countries which lose from the Round may be much larger than is generally assumed. This issue is discussed in the context of Thailand and the Philippines, two countries generally considered to be so similar for trade analysis purposes that they are often grouped together as if their interests were the same. It is suggested here that Thailand is a net gainer from the Round and the Philippines a net loser.  相似文献   

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This paper reconsiders causes and implications of the global bank merger wave, especially for developing economies. Previous studies of the global bank mergers—that is, mergers between banks from different nations—had assumed that these combinations are efficiency‐driven, and that the U.S. case defines the paradigm for all other nations' banking systems. This paper argues that the U.S. experience is unique, not paradigmatic, and that bank mergers are not efficiency‐driven; instead, this merger wave has arisen because of macrostructural circumstances and because of shifts over time in banks' strategic motives. This paper argues that large, offshore banks often engage in cross‐border mergers because they want to provide financial services to households and firms that have reached minimal threshold wealth levels. For developing economies, this suggests that cross‐border acquisitions of local banks by offshore banks will have mixed effects; and it cannot be assumed that the net social impact is positive.  相似文献   

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