Working Paper
The J-curve is a Gamma-curve
A one-good, representative consumer model of the pre-reform consumer sector of transition economies is developed. An equation is derived that permits empirical estimation of the welfare effect of price liberalization. Empirical estimates are...
Working Paper
The Evolution of Vietnamese Industry
The transfer from an import-substitution to an export-orientation strategy has been in effect in Vietnam since the reform process, Doi Moi, necessitating the reformulation of macroeconomic, trading and sectoral policies. As a result, the industry...
Working Paper
Petrol price regulation in South Africa
The South African liquid fuels industry is a significant part of the economy. Historically, government policy focused on import substitution industrialization to support industry margins. This approach is called into question by the 2006 shift from...
Working Paper
Unsustainable Debt Burden and Poverty in Pakistan
The financing of Pakistan’s substantial current account deficits within the framework of IMF and the World Bank structural adjustment programmes—about 6 per cent of GDP in the early 1990s led to a debt crisis in the late 1990s. IMF considered this...
Working Paper
The Dynamics of Land Titling Regularization and Market Development
We study the effects of titles on parcel valuation and urban land market development (real estate transfers, rentals, and mortgages), and the dynamics of deregularization by exploiting a natural experiment in the allocation of land titles to very...