Straight Versus Gradual Opening of Developed and Developing Economies

Jang Woo Park

No 332320, Conference papers from Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project

Abstract: Rather than straight opening, a country or financial market should use gradual opening to minimize the costs of such a process. This paper provides a model of three players - one more developed than the other - that allocates their costs of opening to the others. All markets trade many goods such as financial products, and a cooperative game approach is used. The main game theoretic instrument is the Shapley value.

Keywords: International Development; Resource/Energy Economics and Policy (search for similar items in EconPapers)
Pages: 13
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:ags:pugtwp:332320

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