Between mid-1988 and mid-1989, Vietnam greatly reduced a very high inflation rate at the same time as removing almost all administrative control over individual prices. This paper examines that experience, in relation to the quite different experiences of most other socialist countries. The...

Cross-country econometric analysis informed by Heckscher-Ohlin trade theory suggests that the concentration of Africa's exports on unprocessed primary products is caused largely by the region's combination of low levels of education and abundant natural resources. In some African countries, the...