Simple theorems based on a mathematical property of vecY/vecX provide powerful tools for obtaining matrix calculus results. By way of illustration, new results are obtained for matrix derivatives involving vecA, vechA, v(A) and vecX where X is a symmetric matrix. The analysis explains exactly...

This discussion paper overviews the intellectual foundations of 20th Century fiscal sociology and summarises recent development in the field. It is a draft of the “Fiscal Sociology” entry for the forthcoming International Encyclopedia of Public Policy (Routledge), which is currently being...

Food occupies a role of particular importance in the consumer’s budget, especially in poor countries. This paper deals with special issues arising from modelling food consumption patterns in 138 countries, where per capita incomes differ by as much as a factor of 100. We explore various forms...

China’s growth has been rapid but the value of China's international trade has grown even faster. This trade-biased growth is bringing both challenges and opportunities for Asian economies that are highly integrated with Chinese trade networks. Moreover in ASEAN countries such as Indonesia and...

India’s investment rate has increased fourfold since 1950 and is now nearly 40% of GDP. Many studies have suggested that this rising investment rate is the most significant component of India’s growth acceleration. I assess these hypotheses using the neoclassical growth model decomposition...

International pressure to revalue China’s currency stems in part from the expectation that rapid economic growth should be associated with an underlying real exchange rate appreciation. This hinges on the Balassa-Samuelson hypothesis, which sees growth as stemming from improvements in traded...

This paper aims to examine indigenous innovation and draw implications for sustainable economic growth in China. It investigates China’s capacity and achievements in indigenous innovation at both the macro and micro levels. China’s indigenous innovation is also compared to that in other...

The Big Mac Index, introduced by The Economist magazine more than two decades ago, claims to provide the “true value” of a large number of currencies. This paper assesses the economic value of this index. We show that (i) the index suffers from a substantial bias; (ii) once the bias is...

This paper introduces a new tool for measuring relative pay within organisations, which we call the “pay parity (PP) matrix” and discusses its advantages and useful properties. The PP matrix allows us to conveniently measure, and draw inferences about, the nature of the whole remuneration...