This paper studies the impact of trade openness policy on economic growth volatility in Middle Eastern and North African countries. The observed trade openness is divided into natural openness and trade openness policy. Natural openness is determined by a country’s structural and geographical...

This paper investigates the predictions of the theory of optimal seigniorage in developing countries over the period 1970-1999. The tax smoothing hypothesis, tested on forty selected developing countries, is rejected. However, the hypothesis that economies with high levels of expenditure and...

The influence of trade openness on economic growth via budget balance is surprisingly neglected in the literature, particularly since the theoretical and empirical studies have provided a positive and robust relationship between budget balance and economic growth. In this paper, we provide...