Working Paper
Reforming the global monetary non-system
This paper proposes a comprehensive yet evolutionary reform of the global monetary non-system that evolved out of the breakdown of the original Bretton Woods arrangement in the early 1970s. It includes: (i) a global reserve system that mixes the...
Working Paper
Health Effects of Market-Based Reforms in Developing Countries
Radical and simultaneous economic reforms were implemented in many developing countries, especially in Africa, Asia and Latin America in the 1980s and early 1990s. Many of these reforms - structural adjustment programmes - were implemented with...
Working Paper
External Imbalances, Famines And Entitlements
The study proceeded by broadly categorizing the various defects of the economy as manifestations of two disequilibria in the system. The first disequilibrium pertains to the internal imbalances as reflected mainly by the stagnation in economic growth...
Working Paper
Sustainable and Excessive Current Account Deficits
The abundance of private capital flows confronts many emerging-market authorities with a transfer problem. They must decide whether to accept or resist the net capital inflow, or how much to accept and how much to resist. This paper aims at assisting...
Working Paper
Gap Disequilibria
Four "gaps" or restrictions on capacity growth -- from available saving and foreign exchange, investment demand (with crowding-in of private by public capital formation), and ex ante discrepancies between inflation rates needed on the one hand to...
Working Paper
Structural features of the Mozambique economy through the lens of a 2019 social accounting matrix
This study presents and discusses structural features of the Mozambique economy through the lens of a recently constructed 2019 social accounting matrix (SAM). This is an important reality check of the SAM construction process since it brings...
Journal Article
Aid and Trade Sustainability under Liberalisation in Least Developed Countries
This study investigates the effect of trade liberalisation on export growth, import growth, the trade balance and the current account of the balance of payments in 17 Least Developed Countries (LDCs) over the period 1970 to 2001. The paper also...
Working Paper
Foreign Aid and Economic Development in Postwar Lebanon
This paper shows that foreign aid in postwar Lebanon passed through two phases with distinct features that have had far reaching implications for postwar development. In the first phase lasting from 1992-97, foreign aid was mainly channeled towards...
Working Paper
Trade Sustainability and Aid under Liberalization in Fragile Least Developed Countries
This study investigates the effect of trade liberalization on export growth, import growth, the trade balance and the current account of the balance of payments in 17 least developed countries (LDCs) over the period 1970 to 2001. The paper also...
Working Paper
Impact of Liberalization, Economic Growth and Trade Policies on Current Accounts of Developing Countries
The objectives of this paper are to examine the impact of liberalization on trade deficits and current accounts for developing economies. Attempts at liberalization in trade could lead to an increase in imports in the short run and this could cause...
Working Paper
China’s Trade Imbalances
China has been running a large trade surplus with the rest of the world, particularly with the USA and EU. This has caused considerable diplomatic tensions and tremendous pressure on the Chinese currency. Existing analytical studies, however, mostly...