'In this masterpiece, Professor Biswajit Mandal, with his expertise in international trade and development economics, proves that the small-scale analytical general equilibrium (AGE) models can offer deeper insights into the real social phenomena, such as corruption, than the more fashionable large-scale computer-based quantitative general equilibrium (CGE) models. I highly recommend Professor Mandals new book not only to scholars interested in the workings of corrupt economies but also to younger researchers eager to master the techniques for constructing and manipulating small-scale yet powerful AGE models.'
- Noritsugu Nakanishi, Professor of International Economics, Graduate School of Economics, Kobe University, Japan, Advisor/Former President of the Japan Society of International Economics.
'This book provides a compelling study of competitive trade theory that incorporates corruption-related transaction costs, an overlooked aspect in conventional economic models. With a strong foundation in neoclassical trade theory, Professor Mandal skillfully integrates standard trade theory frameworks with institutional deficiencies that are rampant in developing countries. A must-read for scholars and policymakers interested in the evolving dynamics of trade and economic development in imperfect institutional settings.'
- Reza Oladi, Professor of Economics, Utah State University, USA
'Biswajit Mandal presents a groundbreaking recast of competitive trade models through the lens of corruption and intermediation, providing a new perspective on transaction costs in global trade. With rigorous theoretical frameworks, the book bridges classical models with the complexities of the real world, making it an essential resource for advanced students and researchers. Additionally, Mandal pays tribute to Professor Ronald W. Jones and his profound insights into informal economies, enhancing this work's significance as a critical contribution to international trade literature.'
- Akihiko Yanase, Professor of Economics, Nagoya University, Nagoya, Japan
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