The purpose of this paper is to study the effects of a devaluation on the economic variables of major concern in a non-oil producing developing country. The question of whether a devaluation can be expected to produce effects similar to those experienced in industrial countries is of...

The Maasstricht Treaty on EMU has generally been hailed as "a victory for the Ecu". This is a misinterpretation. Maastricht is a victory for the EMU. EMU does not require the actual Ecu, and the actual Ecu did not receive a boost from the decision to call the future single currency "Ecu" rather...

This Paper discusses specific measures to facilitate employment creation: investment subsidies as compared to employment subsidies. The point of departure is the view that sustained reduction of unemployment to the “natural” level is the top policy goal in terms of the welfare cost of...

The purpose of this paper is to reflect on some fundamental issues : (i)What do we mean by the much used terms – convergence, coordination, hamonisation ? (ii) What is the need for, potential gains of coordination in the community (iii) What explains the evident limits ans difficulty of...