Attributing the foreign trade effects of an expansion in the state budget to a single cause cannot do justice to the multitude of macro-economic interrelationships. Both theory and observation can reveal quite differing links between the public sector financial balance, the balance of payments...

Exchange-rate strategies may be used to pursue the most varied objectives as instruments of development policy or of structural adjustment. The following article will examine the advantages and disadvantages of a number of exchange-rate policy options.

The Tobin tax idea, developed during the 1970s as a tax on foreign-exchange transactions, has found its way back into the academic and policy debates, since the Copenhagen World Social Summit and the G7 Summit in early 1995 at the latest. At both events, proposals were put forward to impose a...