"External exposure can be measured by the sensitivity of first and second moments of economic growth to openness and foreign shocks. This paper provides an empirical evaluation of external exposure using panel data methods for a worldwide sample of countries. Controlling for domestic conditions,...

Iran's economic performance in the last two decades has been very disappointing. This is highlighted by the fact that per capita GDP was 16 percent lower in 1998 than in 1979. However, the most important single reason for this poor performance was not any domestic economic policy, but the long...

"The recent global financial crisis has shaken the confidence of developed and developing countries alike in the very blueprint of financial and macro policies that underlie the western capitalist systems. In an effort to contain the crisis from spreading, the authorities in the US and many...