This paper presents an analysis of the implications of Greece's intense and long-lasting fi scal and external imbalances for the potential efficacy of a discretionary fiscal policy response to the current recession. It argues that, given recent developments in interest rate spreads and the...

In the context of the ongoing financial and economic crisis reference is frequently made to the Great Depression of the 1930s and fears are voiced that we may have embarked on a similar path. This article looks at the conditions prevailing back then and compares them with the present economic...

Reviewing President Carter's economic policy after his first few months in office, Professor Wertheimer assumes a critical attitude particularly towards Carter's energy package and anti-inflation policies which, in his opinion, show serious flaws, limitations and lack of imagination.

The fact that increasing importance is being attached to foreign trade under the new Chinese leadership must not be mistaken for automatic expansion of the importation of foreign goods. Foreign trade will, as before, have only a complementary function in the economic development of China. For...

President Carter assumed power in Washington in January, 1977. Since that time, many aspects of US foreign economic policy, especially those involving the less developed countries (LDCs), have been reviewed and some new approaches have been introduced. Foreign and concepts have been adjusted and...

The island's rapid industrialisation over the past decade and its development as the main trade and financial centre of South-East Asia, supported by a phenomenal growth in tourism, constitute yet another Asian economic miracle.