In this paper, the author presents a simple theoretical framework to discuss the potential contributions of free trade zones on the host country. Then, he mainly concentrates on the effects of free zones in Turkey on the Turkish economy. Note: This is the revised version of the paper which is...

Export Processing Zones are geographical enclaves that have legally been excepted from the country´s normal customs barriers and other constraining legislations. Malaysia has used them to foster its manufacturing industries, particularly the electronic sector. They are intended to attract...

The author reviews case studies of four Caribbean countries-the Dominican Republic, Jamaica, Saint Lucia and Trinidad-and briefly discusses an African country, Mauritius. He compares labour legislation, nationality of investors, technology transfer, and linkages with the rest of the economy. Of...

An important factor that helps distinquish between alternative balance of payments theories is the assumed causal relationship between the domestic credit and reserve components of a country's monetary base. This paper reports test results of this causal relationship in Austrailia, Belgium,...

A model of national price levels is developed to lay bare implicit assumptions behind the conventional view on the effect of productivity differentials and net foreign assets. The effect of productivity on national price levels is determined by the interaction of several countervailing channels,...

The paper proposes a unified framework to study the dynamics of net foreign assets and exchange rate movements. We show that deteriorations in a country's net exports or net foreign asset position have to be matched either by future net export growth (trade adjustment channel) or by future...

Data on physical capital are an indispensable part of economic growth and efficiency studies. In the case of China, economy-wide fixed asset series are usually derived by aggregating gross fixed capital formation (net of depreciation) over time, and sectoral/ownership-specific series by...

Data on physical capital are an indispensable part of economic growth and efficiency studies. In the case of China, fixed asset time series are usually derived either by aggregating gross fixed capital formation data over time, net of depreciation, or by correcting the limited official fixed...

The Japanese banks played a major role in the economic development of Japan during the post-war period between 1945 and 1973. They financed start-up companies and actively funded their expansion. They were prime financiers since there were restrictions on other options of financing such as...