We provide a theoretical explanation why agricultural subsidy policies are likely to fail to ensure simultaneous eradication of the incidence of child labour and improvement in the well-being of the poor working families in terms of a three-sector general equilibrium model with child labour and...

This paper computes the fiscal stance in a small open economy and asses its position to relevant macroeconomic variables in order to protect the macroeconomic stability and promote development. Since 2006 change in income and tax structure shifts the implementation of fiscal policy, increasing...

Morocco has a distinguished reputation for opening the economy, privatization and for increasing the role of the private sector in economic development. The nation has also had well known success in achieving a high degree of price stability through a fixed and credible exchange rate that was...

Credit constraints that link a private agent's debt to market-determined prices embody a systemic credit externality that drives a wedge between competitive and (constrained) socially optimal equilibria, which induces private agents to ``overborrow". We quantify the effects of this externality...

This paper develops a quantitative model of contagion of financial crisis and sovereign default for small open economies that cannot credibly commit to honor their international debts and have common international risk averse investors. The existence of common investors with preferences that...

Credit constraints that link a private agent's debt to market-determined prices embody a systemic credit externality that drives a wedge between competitive and (constrained) socially optimal equilibria, which induces private agents to ``overborrow". We quantify the effects of this externality...

During the last 50 years with unprecedented population growth and urbanization, economic development, particularly in developing countries failed to generate adequate employment and income opportunities in the modern sector, compelling the surplus labour force to generate its own means of...

The aim of the paper is to analyze how corruption contributes to the spread of shadow economy and damages viable economic development of any country. The unfreedoms that are created under the conditions of illegal transactions and corrupt practices considerably limit the opportunities of...

The aim of this paper is to provide new empirical evidence about the determinants of per capita income in African countries, with particular attention to the affects of governance institutional quality and sub regional integration on income level. We use a sample of 49 countries from the period...

Using a geometric growth model this paper shows that, given certain assumptions, the target of reaching an annual GNP per capita equal to US $ 10,000 which Vision 2020 considers adequate for acquiring a fully developed nation’s status by that year may remains attainable despite the recent...