This article investigates the relationship between sectoral concentration and per capita income over the period 1963 to 2009 for 17 Latin American countries. Results confirm the existence of a U-shaped relationship between sectoral concentration of manufacturing value added and the level of per...

This paper investigates the relationship between trade policy orientation and industrialization. Growth rates of manufacturing value added, rather than output growth rates, are related to index of real exchange rate distortion to establish the superiority of outward-oriented strategies in...

This note reviews the signalling models presented in the monetary economics literature, and offers a supplementary interpretation regarding the observed US Treasury primacy in signalling. It is argued here that the legal authority given to the US Treasury, under the Gold Reserve Act of 1934, for...