This paper analyzes the East Asian Currency Crisis to examine what factors led to the crisis and the differential impact across countries. Empirical data of 7 Asian countries over the period 1990 – 1996 is examined. The sample of seven countries is divided into two categories; crisis countries...

It is often claimed that what is popularly known as the "flying geese paradigm" of dynamic comparative advantage has accurately depicted the East Asian catching-up process. This paper presents a critical study of the paradigm, as well as its application to the current situation in East Asia...

The new conflicts of the twenty-first century – the 'infinite wars,' the 'clashes of civilization,' the 'new crusades' – are fundamentally different from the mass wars and statist military conflicts that characterized capitalism from the nineteenth century until the end of the Cold War. The...

New estimates of pass-through coefficients for the Middle East and North Africa indicate that a rise of global food prices is transmitted to a significant degree into domestic food prices. Over the past decade, transmission from international to domestic prices has been particularly high for...

This conference volume discusses the pros and cons of early integration into the European Union of Eastern transition countries, given the information available at the turn of the century. The questions posed refer to the structural gap between accession countries (ACs) and the EU, the optimal...

This book aims to study the consequences of the subprime crisis for New Caledonia, a French overseas Pacific territory. The situation of New-Caledonia is specific in many ways, since this territory is undergoing an institutional process of emancipation from France. On the first hand, New...

We model a typical Asian-crisis-economy using dynamic general equilibrium tech-niques. Exchange rates obtain from nontrivial fiat-currencies demands. Sudden stops/bank-panics are possible, and key for evaluating the merits of alternative ex-change rate regimes. Strategic complementarities...

In recent years, many developing countries having a history of high inflation, unfavorable balance of payment situation and a high level of foreign currencies denominated debt, have switched or are in the process of switching to a more flexible exchange rate regime. Therefore, the stability of...

The aim of this overview article is to examine and assess monetary issues crucial for the Economic and Monetary Union (EMU) entry strategy. The optimum currency area (OCA) criteria are not used in assessing Polish suitability for the EMU, as they were not decisive in the process of the EMU...

This paper investigates the possibility of conducting an unconventional monetary policy of Quantitative easing (QE) at high interest rates using the example and experience of Russia. The Central Bank of the Russian Federation has raised the key interest rate on three occasions during the 7...