Indeed, the recent emphasis on eco-political governance in Nigeria is unique in that it was initiated by external donors (international organizations) and not by domestic leaders under pressure from their own constituencies. Thus, while Nigeria have embraced the market economy and liberalized...

This work is a PhD dissertation, written at the Department of Economics, McGill University. The thesis offers a new framework for inflation as a process of restructuring. Contrary to existing theories of inflation, which tend to take structure and institutions as given for the purpose of...

Why are some countries more technologically innovative than others? The dominant explanation amongst political-economists is that domestic institutions determine national innovation rates. However, after decades of research, there is still no agreement on precisely how this happens, exactly...

Recent experience of the great recession of 2008 has renewed one of the oldest debates in economics: whether economics could ever become a scientific discipline like physics. This paper proves that economics is truly a branch of physics by establishing for the first time a fundamental equation...

As economic conditions in the United States have faltered, the impact on the Mexican economy has been negative. The short-term consensus projections for Mexico reflect this and suggest that the downturn is not likely to loosen its grip on the Mexican economy until the second half of 2009 or even...

Recent experience of the great recession of 2008 has renewed one of the oldest debates in economics: whether economics could ever become a scientific discipline like physics. This paper proves that economics is truly a branch of physics by establishing for the first time a fundamental equation...

The National Economic Institute in Iceland was a government institute responsible for producing and publishing a national economic forecast. The institute was closed in 2002. This paper measures the accuracy of the institute's forecasts from 1981-2002. The paper measures the accuracy of the GDP...

This paper was written as the first draft of the invited Foreword for the book, Money and the Economy, by Apostolos Serletis. The paper provides a critical view of those areas in which methodology in economics deviates from that in the physical sciences, provides examples and illustrations of...

Prior research documented that U.S. stock prices tend to grow faster during Democratic administrations than during Republican administrations. This letter examines whether stock returns in other countries also depend on the political orientation of the incumbents. An analysis of 24 stock markets...