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Publications (11)
Working Paper
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The object of this paper is to analyse the evolution of the international trading system from its inception as GATT in 1947 to its latest incarnation as WTO, comprising the complex array of agreements forming its substance and mandate. The study focuses on the adequacy or the inadequacy of the...
Working Paper
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This paper sketches a profile of international labour migration over the past fifty years and draws a distinction between different categories of labour flows in the contemporary world economy. It examines the underlying factors with an emphasis on structural determinants at a macrolevel. It...
Working Paper
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Recent financial crises, whose effects have been particularly severe in developing countries, have led to a wide-ranging debate on international financial reform. This debate has had to confront the implications of the huge growth of international capital movements, one of whose consequences has...
Working Paper
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– Prospects for Institutional Renewal
This paper assesses the institutional constraints on the effectiveness of the United Nations over the course of its existence, especially in relation to its central mission to promote international peace and security. Only passing attention is accorded to the Bretton Woods institutions. The paper...
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The raison d'etre of the nation-state is the ideology of nationalism. Yet, nationalism is a complex notion which encompasses the society, the state and the economy. It comprises of a complex nexus of multiple loyalties ofan individual as a member of the society, duties and rights of the citizen in a...
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The purpose of this paper is to explore economic and political implications of Europe's Economic and Monetary Union (EMU) for developing countries. In strictly economic terms, influences will be communicated through both trade and financial channels. Economies in the developing world will be...
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– Retrospect and Prospect
The management of international reserves remains one of the understudied aspects of the international monetary system. There are now a number of reasons why this should change. On the supply side of the market there is the advent of the euro, creating a full-fledged rival to the dollar for the first...
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The partial effect of nominal exchange rate volatility on exports from each EMU member to the rest of the EMU is estimated on annual data for 1967-97, using modern time-series methods. The long-run relations between exchange rate volatility and exports are mostly negative and in several cases...
Working Paper
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– Commitment, institutional Capacity and the Monetary-Fiscal Mix
An interesting theory of transition must give a convincing account of structural adjustment and supply side improvement. In this paper, I discuss the incentives for government to undertake costly supply side improvement and how these relate to incentives governing the design of monetary and fiscal...
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The emergence of the euro as a key currency, perhaps eventually rivalling the US dollar in importance, may have important macroeconomic implications for industrial as well as developing economies in the years ahead. This paper focuses on two related questions. First, what effects, if any, will the...
Working Paper
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We analyse the prospects for greater monetary integration in Africa, in the wake of EMU. We argue that the structural characteristics of African economies are quite different to the EMU members but that much can be gained from monetary cooperation, as an external agency of restraint and in promoting...
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