This paper presents the utilization of some 31 indicators of the economic and social development of some 45 countries, taken from the World Bank yearly publication World Development Indicators: WDI' 2002, to create the static econometric model EM' 2000, featuring 10 equations, 10 endogenous as...

Global poverty and poverty reduction are right now, more prominent public issues in high-income countries than they have ever have been, but progress toward the eradication of global poverty is at increasingly grave risk due to global macro-economic imbalances. At the heart of the problem is the...

Using a two-sector-two-country model with aggregate scale economies and unionisation, we show that optimal welfare state policy entails positive levels of unemployment benefits under free-trade and capital mobility. In this setting, economic integration does not reduce the revenue raising...

This paper compares the performance of the Mexican economy with that of the rest of the region over the past 20 years, based on the available economic and social indicators, and with its own past economic performance. Among the results it finds that Mexico ranks 18th out of 20 Latin American...

We analyse the impact of industry on non industrial production, as well as its effect on wages and employment in 6 OECD countries: France, Germany, Italy, Spain, the United Kingdom and the United States for the period 1960-2012. Our approach to macro-econometric modelling have into account both...

This article reviews the Keynesian/heterodox critique of free trade and the principle of comparative advantage, and offers some prima facie empirical evidence for North America that contradicts the basic predictions of the traditional free trade model. The evidence supports, instead, the view...

This paper presents the utilization of 31 indicators of the economic and social development of some 45 countries, taken from the World Bank yearly publication “World Development Indicators” (WDI'2002), to create the static econometric model EM'2000, featuring 10 equations, 10 endogenous as...

Writings on the macroeconomic impact of capital account liberalization find few, if any, robust effects of liberalization on real variables. In contrast to the prevailing wisdom, I argue that the textbook theory of liberalization holds up quite well to a critical reading of this literature. The...

Systemic failure in Asian markets has bee analysed and attempts made to correct future occurrences by changes to the regulatory models governing those markets. However many of those markets still have not initiated necessary public sector reforms to ensure good governance, financial stability...

When Less Developed Countries (LDCs) announce debt relief agreements under the Brady Plan, their stock markets appreciate by an average of 60 percent in real dollar terms - a $42 billion increase in shareholder value. In contrast, there is no significant stock market increase for a control group...