"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,...

In 2008 the Government of Pakistan agreed with the International Monetary Fund (IMF) to increase the tax/Gross Domestic Product (GDP) ratio by 3.5 percentage points over the medium term. This commitment has rekindled the debate regarding the agricultural income tax. Advocates of an agricultural...

Regulating infrastructure utilities can be extremely complex and fraught with risks of political interference and capture by interest groups, especially in countries with little tradition of politically independent government agencies. To deal with these challenges, policymakers and regulators...

"The "New Open Economy Macroeconomics" argues that: (a) non-monetary factors have gained importance in explaining exchange rate volatility, and (b) trade and financial openness may have a potential role of mitigating and/or amplifying real and nominal shocks to real exchange rates. The goal of...