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Working Paper
Do Structural Reforms always Succeed?In the last twenty years, Brazil has undergone several attempts of improving sustainable growth through stabilization programmes, and more recently, structural reforms in line with the Washington Consensus Agenda. The results, however, have been...
Working Paper
Does Financial Openness Promote Economic Integration?We study whether financial openness facilitates the economic integration of formerly centrally planned economies with the EU-15. Two dimensions of economic integration are considered: cross-country convergence of per-capita incomes and bilateral...
Working Paper
The Effects of (within and with EU) Regional IntegrationWe analyse two potential effects arising from regional (and with EU) integration—increased quality of institutions (including the quality of financial institutions) and, economic policies and reduced multilateral exchange rate volatility—in a...
Working Paper
Economic Integration and MigrationThis paper explains the evolution and effects of Mexico-US migration, and highlights the NAFTA approach to economic integration, viz., free up trade and investment while stepping up efforts to prevent unauthorized migration. The European Union...
Working Paper
Regional Inequality, Industry Agglomeration and Foreign TradeHow do foreign trade and foreign direct investment affect regional inequality? Foreign trade and investment may affect internal economic geography, and the resulting industry agglomeration may contribute to regional inequality. This paper provides...
Working Paper
Institutional Quality, Reforms and Integration in the MaghrebUsing panel data this paper examines the effects of institutions on the success of reforms and integration in the Maghreb. Institutional quality measures are developed using fuzzy-set based transformations of civil liberties and political rights. We...
Working Paper
The Economic Integration of Immigrants in the United StatesThe most important economic feature of immigration to the United States in the post-1965 period has been a significant deterioration in the economic performance of successive immigrant waves. The policy reaction to this trend would obviously differ...
Working Paper
Geography and Development in AfricaGeography causes African countries to experience a ‘proximity gap’. To overcome this gap a ‘big push’ may be needed in infrastructure. The cross-border nature of such infrastructure requires regional cooperation in at least four issues: transport...
Working Paper
Measurement of a Multidimentional Index of Globalization and its Impact on Income InequalityIn this paper we present two composite indices of globalization. The first is based on the Kearney/Foreign Policy magazine and the second is obtained from principal component analysis. They indicate which countries have become most globalized and...
Working Paper
Macropolicy in the Rise and Fall of the Golden AgeThe Golden Age was the era of demand management. Originally with monetary, and then fiscal policy, the governments of the advanced capitalist economies attempted to enhance and guide the accumulation process. They allocated credit, manipulated...
Working Paper
Economic Polarization Through TradeThe paper analyses the impact trade liberalization and economic integration have had on regional growth and regional disparities in Mexico over the last two decades. It is highlighted that the passage from an import substitution system to membership...
Working Paper
Controlling Asylum Migration to the Enlarged EUWe examine the ways in which candidate countries which are to join the EU in 2004 are responding to increasing asylum migration from the East and assess the impact of accession on their asylum and immigration laws and policies. It will be argued that...
Working Paper
Protectionist Tendencies in the North and Vulnerable Economies in the SouthThis paper examines whether protectionist tendencies, in terms of both policy preferences and policy actions, in 'Northern' countries-looking in particular at the United States - seem to be an obstacle to the integration into the world economy of...
Working Paper
Costa RicaOver the last thirty-five years, Costa Rican exports (in dollars) have grown at an average annual growth rate of 10.8 per cent. In the context of an import substituting industrialization and subregional integration, exports grew at increasingly...
Working Paper
Modelling Macroeconomic Linkages in a Monetary UnionWe construct a structural macroeconometric model for member states of the West African Economic and Monetary Union. Fitting this model to annual and quarterly time series data allows us to identify the channels through which macroeconomic innovation...
Working Paper
The Characteristics of Macroeconomic Shocks in the CFA Franc ZoneIn this paper we fit a VECM in output and prices to data from ten countries of the CFA Franc Zone. This model allows for various cross-country interactions in both the short run and the long run. The VECM parameters are used to estimate persistence...
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