This study empirically examines the causal relationship between trade openness and economic prosperity in South Africa with quarterly data from 1970 to 2017. The analysis is disaggregated into pre-1994 and post-1994 to capture the economic situation…
We consider two countries with initially one firm in each country and the possibility for each firm to invest in the other country or commercialize its products, and for workers to immigrate (Common Labor Market; CLM). Interestingly, when firms…