This paper treats low inflation in EMU as a collective action problem for Ecofin. The SGP and more broadly the BEPG, operating against a background of the ECB and wage-setting, are the instruments for this. The ECB delegates sanctioning to the member-states while pre-serving the authority to set...

The paper argues that there is a new form of liberal internationalism developing in France in the years after the First World War. This new liberalism, whilst emphasising economic prosperity, introduces international solidarity as a key concept. It insisted on international interdependence being...

Despite the creation in Europe of a common economic and monetary union, the convergence towards a unique European Welfare State (EWS) model is not yet in evidence. By applying a §-Convergence panel data approach on real per-capita welfare expenditure, the paper analyses how the different types...

Environmental concerns play an increasing part in public debate and international negotiations and France has always been one of the leaders of this trend. Nonetheless, French environmental policies remain fairly cautious for at least three reasons. First, because of the lack of...

During the last decade, China s growing economic importance has been considered a blessing for South America, given their still relatively high dependence on the US and commodity exports. However, this positive sentiment is starting to change. Concerns are being raised about potential adverse...

The dramatic rise of Chinese direct investment into the European Union has sparked a debate about the control that China may be seeking to take over European economies. Quite naturally these concerns have led to repeated calls that action be taken to slow down, if not to halt entirely, this...

The publication Foreign Aid in South Asia: The Emerging Scenario is a collection of case studies examining the role that foreign aid (except military aid) has played in the economic and social development of eight countries in South Asia. The main objective of the book is to provide policies to...

This paper investigates new developments in the pattern of machinery trade, with a focus on the extent and depth of production networks in North America. We pay particular attention to North America's trade links with East Asia, which have intensified in the last two decades. Investigation of...

The Okada & Samreth (2012, EL) and Asongu (2012, EB; 2013, EEL) debate on ‘the effect of foreign aid on corruption’ has had an important influence in policy and academic circles. This paper provides a unifying framework by using investment and fiscal behavior transmission channels in 53...

This chapter complements exiting African liberalization literature by providing fresh patterns of two main areas. First, it assesses whether African banking institutions have benefited from liberalization policies in terms of bank returns. Second, it models bank return and return uncertainty in...