This paper reviews the history and controversies associated with capital account management. It first looks at the transition from the acceptance at the Bretton Woods conference of capital account regulations as a normal policy instrument to the...
In the last decade, a large portion of capital goods imports of Sub-Saharan African countries is telecommunications equipment, and China is now the main source of equipment for 30 Sub-Saharan African countries. A connection between specific types of...
Part of Book Resetting the International Monetary (Non)System
This paper explores the impacts of information technology investment on economic growth in a cross-section of 39 countries in the period 1980-95 by applying an explicit model of economic growth, the augmented version of the neoclassical (Solow)...
An equal distribution of assets is a crucial element in the process of economic transition from plan to market. In the socialist era most physical assets were owned by the state and private ownership was not very important for most individuals. When...
A discussion of the theory of technology and economic growth suggests potentially negative implications for the impact of the Internet on developing countries. Technology in general is undoubtedly central to the growth process, but economists define...
This paper makes the case that current social contracts are often inadequate, irrelevant, or unjust for informal workers. It outlines three possible future scenarios: the bad old contract, an even worse contract, and a better new contract. Under the...
Part of Book Debt, Stabilization and Development
Part of Book Short-Term Capital Flows and Economic Crises
Part of Book Short-Term Capital Flows and Economic Crises
Part of Book Short-Term Capital Flows and Economic Crises
Part of Book Short-Term Capital Flows and Economic Crises
Part of Book Short-Term Capital Flows and Economic Crises
Part of Book Information Technology, Productivity, and Economic Growth
As the country’s oil production shifts into gear, Ghana’s new status as a middle-income country is bound to see a reduction in official development assistance (ODA) in the medium to long term. This emerging oil industry will most likely provide a...
Part of Book Short-Term Capital Flows and Economic Crises
Many worry that developing countries lose a substantial amount of money via capital flight, that is, outflows of cash and securities — part of which...
Part of Book Globalization, Marginalization and Development
Part of Book The Environment and Emerging Development Issues
This study addresses the macroeconomic effect of foreign aid on the factors of growth. Specifically, we examine the effects of foreign aid on capital investment (human capital, physical capital) in sub-Saharan Africa. Our methodological approach...
This paper confirms recent evidence of a positive impact of aid on growth and widens the scope of evaluation to a range of outcomes including proximate sources of growth (e.g., physical and human capital), indicators of social welfare (e.g., poverty...
Set in the context of the recent theoretical and policy debates on appropriate exchange rate regimes for emerging market economies in a world of free capital mobility, the paper attempts to present the case for an intermediate exchange rate regime...
This study provides an analysis of the aid-private capital flows-growth nexus for Ghana. It is premised on the argument that Ghana’s new status as a middle income country plus the start of oil production is bound to result in a reduction in ODA...
This paper investigates how people created, adapted and used social capital and conflict resolution during more than a decade of violent conflict in Liberia, and the potential of such capital to contribute to post-conflict peacebuilding and self...
For transition economies labour market flexibility is necessary for successful restructuring and reallocation of labour force and for coping with the requirements of the European Monetary Union. In this paper we apply a novel approach to the issue of...
This paper aims to provide theoretical and empirical insights into the puzzling simultaneous rise in foreign direct investment (FDI) inflows in Africa and capital flight from the continent over the past decades. It specifically explores two questions...
Part of Journal Special Issue Aid Policy and the Macroeconomic Management of Aid
Part of Book Resource Abundance and Economic Development
By definition, the 'New Economy' is an economy where business firms have learnt to take advantage of both the ICT revolution and the globalization of business activities in ways which improve productivity. First, by surveying recent research findings...
By globalization we mean an external shock; specifically an increased world demand for various goods (or bads) including the products and services which are illegal. We analyse the effects of these shocks on growth and capital stocks by utilizing two...
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