The paper purports to examine the rationale in subsidizing healthcare in the developing economies solely from the standpoint of economic growth with the help of a three-sector, full-employment small economy model with exogenous labour market imperfection and a non-traded sector providing...

The paper examines the timing of endogenous wage setting under Bertrand competition in a unionized mixed duopoly. The results are that when the public firm chooses the timing of wage setting: (1) sequential wage setting is the outcome and (2) simultaneous wage setting is the outcome. The first...

This paper shows that developing countries possess an inherent shock-absorbing mechanism that stems from their peculiar institutional characteristics and can lessen the gravity of detrimental welfare consequence of exogenous terms-of-trade disturbances in terms of a two-sector, full-employment...