First paragraph: The Research Network Macroeconomics and Macroeconomic Policies (FMM) has existed since 1996 as a platform for analysis, research and discussion of macroeconomic issues. It is primarily based in Germany, Austria and Switzerland, but it has established close links to similar...

First paragraph: After the start of reform in 1978 China became one of the most successful developing countries in the world economically. China did not follow the philosophy of neoclassical development models upheld by the Washington Consensus and the savings-gap model. In fact, the Chinese...

In neoclassical thinking, insufficient development is considered the result of a lack of resources, and an inefficient allocation. Deregulated markets have to guarantee a better allocation of resources as well as a net resource inflow to augment the domestic physical capital stock. From a...