Building upon earlier work by Willenbockel (2013; MPRA Paper No.51501), this study provides an extended ex-ante computable general equilibrium (CGE) assessment of the Tripartite Free Trade Agreement between the member states of the Common Market for Eastern and Southern Africa, the East African...

The authors turn to the large family of institutions that came into existence in post-Soviet Eurasia (and, in some ways, beyond it) over the last two decades. The researchers review their current state, agenda, real and perceived mandate, and their respective achievements and constraints. The...

In his Inquiry into the Nature and Causes of the Wealth of Nations Adam Smith (1776) considered the phenomenon of division of labor so enormously significant for the creation of a nation’s wealth that he devoted the first three chapters of his book to an investigation of this process. This is...

In this paper Pasinetti’s model of structural economic dynamics (1981) is extended to consider international economic relations. Conditions for full employment, full expenditure of income and equilibrium of the trade balance are established for an open economy that requires capital goods to...

Policy implications of complexity economics (CE) are investigated. CE deals with “Complex Adaptive (Economic) Systems” [CA(E)S], generally characterized by mechanisms and properties such as “emergence” of structure or some capacity of “self-organization”. With this, CE has manifold...

The sovereign debt crisis, which currently affects especially the European Union, challenges on the one side the actuality of hard borders and the reexamination of soft borders (Horga & Brie, 2008), and on the other side the need for the European Union to deal with an even more complex global...

The paper shows the advantages and handicaps of implementing an inflation target (IT) regime, from a Post-Keynesian and, thus, an institutional stance. It is Post-Keynesian as long as it does not perceive any benefit in the mainstream split between monetary and fiscal policies. And it is...

The objective of this study is to identify likely factors driving the 2010 rice price hike and suggest options to manage rice price volatility in the future. Regional trade is likely the main proximate cause for high glutinous rice prices. Trade with Vietnam was likely the main reason for...