This large empirical study of corporate profitability in emerging markets during the 1980s and 1990s measures the intensity of competition. Data on corporate rates of return, profit margins, and output-capital ratios reveal that the recent liberalization has been associated with reduced...

This paper assesses the impact of the alternative foreign trade strategies of export promotion and import substitution on employment and income distribution in Brazil. The impact of the expansion of nontraded goods production is also examined for purposes of comparison. Using a modified...

This paper reports a comparison of South African household inflation expectations and inflation credibility surveys undertaken in 2006 and 2008. The objective is to test for possible feed-through between inflating credibility and inflation expectations. It supplements similar earlier research...