For dozens of developing countries, the financial upheavals of the 1980s have set back economic development by a decade or more. Poverty in those countries have intensified as they struggle under the burden of an enormous external debt. In 1988, more than six years after the onset of the crisis,...

Japan's dramatic transformation from economic success to economic stagnation offers important policy lessons to advanced countries everywhere that are struggling with stagnation. The term 'Japanization' is often used by economists to describe long-term stagnation and deflation. Symptoms include...

Introduction; A.Tawfik Al Sadik & I.Elbadawi -- Strengthening the Financial Architecture: The Unanswered Questions; B.Eichengreen -- The Oil Market and the Financial Crisis; R.E. Mabro -- The Global Crisis: Old and New Lessons for Macroeconomic Policy; A.Tawfik Al Sadik & L.Serv̌n -- Financial...

We review the growth experience of middle-income countries. Economic factors associated with growth appear to differ between middle income and other countries. The efficiency of the financial system is importantly related to the growth rate in low- and middle-income countries, but appears to...