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Publications (13)
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– The Riddle is Still There but We May be a Little Bit Wiser
The Nordic countries are often bundled together, as representatives of a ‘model’ which combines high living standards and an open market economy with social insurance and ambitious public services. Yet, the economic and political development of Denmark, Finland, Norway and Sweden towards this model...
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Malaysian economic development has been shaped by public policy in response to changing national and external conditions. Public investments peaked in the 1970s and early 1980s, until the policy reversals driven by sovereign debt concerns and new policy ideology fads. Foreign investments continued...
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– Lessons from Brazil, Chile, Costa Rica and the Dominican Republic
This paper provides a synthesis of the four papers on the Latin American and Caribbean economies: Brazil, Chile, Costa Rica, and the Dominican Republic. It focuses on the following themes: macroeconomic stabilization and fiscal challenges, poverty and inequality, and the use of natural resources to...
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The main characteristics of 'the Swedish model' are arguably related to the country's knowledge-intensive industry and its advanced welfare state. The purpose of this paper is to discuss the historical development of these two features of the Swedish economy. The first part looks at industrial...
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– An Economic Success Story?
The paper provides an evaluation of the development of the South African economy since the end of apartheid in 1994. Taking the 1993 situation as the point of departure, it gives an account of the path leading to the formulation of the major policy documents, and examines to what extent their...
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– Achievements and Prospects
This paper reviews Brazil’s growth performance over the last quarter of a century and discusses the main determinants of a pick-up in growth since the mid-1990s. Emphasis is placed on the policy pay-offs associated with a consolidation of macroeconomic adjustment, which is a pre-condition for...
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– A ‘Capability-based View’
There is some scepticism about Korea as role model of development as the Korean model involved a considerable degree of state activism, unacceptable in today’s global environment. This paper propose a ‘capability-based view’ of the country’s catch-up development, arguing that the real lesson from...
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– A Success Story?
Tunisia’s recent growth and development performance relative to countries in its region, and relative to countries at similar levels of development in other parts of the world, particularly in Sub-Saharan Africa, have been notable. An analysis of Tunisia’s path to development reveals that the...
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– Committing to Economic Openness and Building Domestic Institutional Capabilities
This paper sets out to explain the factors behind Ireland’s exceptional period of economic growth from the early 1990s to the mid 2000s. It suggests that an unbending commitment to economic openness and an on-going effort to establish quality domestic institutions were the main drivers of the so...
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During the 1950-70s Norway had relatively low GDP per capita compared to the OECD average and even more so compared to Denmark and Sweden. During the 1970s there was a significant catch-up in incomes and from the early 1990s a ‘take-off’ in relative income. Norway is currently ranked among the...
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– Relevant and Nonrelevant Elements for Developing Economies
Japan was the first non-western country to accomplish successful industrialization, and the dominant perception of its ‘industrial policy’ had over-emphasized specific characteristics of Japan. However, from the perspective of today’s development thinking, Japan’s economic history shared a wide...
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– The Importance of Microeconomic Fundamentals
We examine the case of the Czech Republic, which has been frequently cited as one of the most successful cases of transition economies in Central and Eastern Europe (CEE). Despite the costs related to the break-up of Czechoslovakia in late 1992 and 1993, the immediate consequences were quickly...
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– Putting the Success Stories of the Postcommunist World into a Broader Perspective
Why many transition economies succeeded by pursuing policies that are so different from the radical economic liberalization (shock therapy) that is normally credited for the economic success of central European countries? First, optimal policies are context dependent, they are specific for each...
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