Plenty of food, Sufficient clothing, Proper monitoring of the Key Socio- Economic factors, with commitment to Domestic Productivity were the Essence of the Administrative strategy of Mrs. Indira Gandhi (Late Prime Minister of India). These approaches could be critically related to the remarkable...

Regarding the trade-off between the depth and the duration of recessions, there exists a mounting empirical evidence of the idiosyncratic and non-synchronized behavior of the business cycle over time within and across countries. In this paper, I propose a stochastic dynamic general equilibrium...

Theoretical study identifying one modality with conditions necesary for the financial stabilization of an inherently unstable system; and 5040 other unstable dynamic modes. It draws on knowledge made available by the academic field of Control Engineering.

Adam Smith (1776) is generally ignored as an international trade theorist in textbooks and surveys because of the common belief that he only confirmed the rule of absolute advantages to explain structure of foreign trade. On the other hand, many textbooks and surveys on growth theories simply...

This paper revisits Keynes’s liquidity preference theory as it evolved from the Treatise on Money to The General Theory and after, with a view of assessing the theory’s ongoing relevance and applicability to issues of both monetary theory and policy. Contrary to the neoclassical “special...

Natural resources in sub-Saharan Africa suffer from a bad reputation. Oil and diamonds, particularly, have been blamed for a number of Africa’s illnesses such as poverty, corruption, dictatorship and war. This paper outlines the different areas and transmission channels of how this so-called...

In this paper we argue that authorities aid cooperation by means of direct coordination or the enforcement of pre-commitment devices such as contract laws.Credible threats of violence allow this role. In a local interaction model, an authority forms if mutually connected individuals with...

In this paper we consider the way in which authorities arise in response to the need for coordination. In a model of local interaction, an authority is understood as a self-enforcing coordination selection structure, where the threat of violence ensures compliance. Such authorities form if...

This paper provides empirical evidence, from the study of sixteen major Indian states for the period 1980-2001, that under the economic reform process, the better institutional mechanism could actually help economies to grow faster with higher level of economic well-being. We estimate economic...

Meta-rules, or rules for making rules, determine the costs of innovation and thus the pace of economic growth. Adapting rules to a changing economic environment through explicit, well-designed meta-rules makes economic growth quicker, less painful, and more certain than adapting rules through...