The increasing cross-border flows of information, trade, capital and technology have profoundly changed the macroeconomic fabric of nations. In the emergent borderless world macroeconomic theories and policy-making confront new challenges. This paper identifies and evaluates some of these...

The maldevelopments due to aid-tied growth-maximisation strategies of the past decades have led to cynicism, and sometimes downright opposition to aid donation by taxpayers in the industrialised countries. On the other hand, radicals in the developing countries view aid as a Trojan horse to...