With an artificial exchange rate, a government establishes a set of prices that makes certain transactions highly profitable at the same time that it establishes laws making those transactions illegal. We usually call it "corruption" when people follow the government's price incentives instead...

This paper combines simplified Harrod-Domar and Mahalanobis-type models, first to show that the internal consistency of a development plan may well depend on supply relationships that are usually ignored in aggregate planning, and second, to suggest the value of a more general version of the...

Much of our understanding- of structural change with industrialization is based on empirical studies that describe patterns in the relationship between consumption, intermediate and capital goods [1; 2, for instance]. Thus, classification cation of an industry's output, prices, imports or exports...

By these rules, "import substitution" should be paid extra since it has been used to mean many different things. These notes are intended, therefore, to clarify or at least specify some of the issues and ambiguities surrounding discussion of import substitution in the hope that future research...

Professor Nurkse presented a compelling case against the price stabilization policies of national marketing boards for primary products based on the fact that these policies may reduce the quantity of foreign revenue accruing to the primary producing country [1]. If they do, they may act to...