Purpose – The purpose of this paper is to discuss the financial turmoil of 2008 that followed the collapse of the housing bubble in the USA which was the starting point of a global economic crisis. Huge costs are borne by every part of society. Much wealth has been destroyed. Millions of jobs...

In this study, we attempt to identify the channels through which economic reforms enhanced the productivity growth in total manufacturing sector in India. Because one possible channel is better utilization of plant capacity, we estimate the capacity utilization rate in Indian manufacturing....

Under the influence of national economic reform and development, China has changed the way that it finances healthcare from a government-based system to a more market-oriented system. China has done this without a sophisticated healthcare payment system, and this has resulted in the rapid growth...

This paper develops a dynamic framework to analyze the political sustainability of economic reforms in developing countries. First, we demonstrate that economic reforms that are proceeding successfully may run into a political impasse, with the reform's initial success having a negative impact...

Since the early 1980s, China has initiated a series of property rights reforms in the collectively owned forest area to motivate farmers in forest management. Assessment of farmers' behaviors in response to the reforms would be useful when policy adjustments are considered. This paper...

This paper analyses the drivers and components of China's economic growth, showing that the structure of the economy is just as important as standard growth factors in determining its growth. The structural reforms that dismantled state-owned enterprises and shifted factors from agriculture to...

This paper investigates the changing nature of economic integration in China. Specifically, we consider business-cycle synchronization (correlation of demand and supply shocks) among Chinese provinces during the period 1955–2011. We find that the symmetry of supply shocks has declined after...

The objective of this paper is to introduce an initial broad set of Brazilian trade and trade related issues for discussion within the OECD enhanced engagement context. Accordingly, the paper takes an historical perspective as an aid to understanding some current trade policy settings in Brazil....

This paper examines and dissects eight popular conjectures about exchange rates. The conjectures are: there exists a systematic linkage between economic fundamentals and exchange rates; flexible exchange rates are unstable due to destabilising speculation; flexible exchange rates are excessively...

Examines, in a paper written in 1938 by Lauchlin Currie, the banking and monetary system of the USA. Presents the 100 percent reserve plan, its claimed advantages and the objections to it. Concludes that a basic reform in the nature of the 100 percent reserve plan is inevitable.