ABSTRACT This paper is concerned essentially with the question, how does financial globalisation affect economic welfare? Orthodox theory suggests that because of greater risk-sharing between countries that financial liberalisation entails, there should be no welfare losses. Greater risk sharing...

Abstract The East Asian countries have achieved a spectacular average rate of economic growth over the last 30 to 40 years, with very substantial diversification and economic development. Korea, for example, managed to transform itself from being a largely agricultural society in 1960 to the...

Abstract Following closely my remit, this paper reviews and assesses Asian economic development in the recent post-1980 period, as well as over the somewhat longer time-span since WWII. Its chief purpose is to draw analytical and policy implications from this experience. This is a challenging...

Abstract This paper explores the main issues involved in examining the gender impact of international capital flows to developing countries. It argues that at the macroeconomic level women lose more than men from slow and/or unstable economic growth, financial crises and meltdowns, the more so...

This paper considers the question of economic nationalism through the lens of economic openness. Complete economic openness, which connotes close or total integration of a country with that of the world economy, is the antonym of economic nationalism. The paper argues that economic openness is a...

This paper examines the impact on labour markets in advanced countries (ACs) of the integration of the two giant fast-growing countries, China and India, with the liberalised global economy. The integration is taking place under “current globalisation,” which consists of free trade, free...

This paper explores the question of whether the institution of the stock market is likely to be helpful to developing countries in promoting their real economy and ensuring fast industrial growth. The case for and against the stock market inevitably involves a discussion of the important related...

This short paper aims to contribute to the debate on the causes and remedies for high rates of unemployment and under-employment, which presently afflict large parts of both the North (industrial countries) and the South (developing countries). The starting point for the paper is a recent...

The principle of “non-reciprocity” in international trade negotiations, together with the concept of Special and Differential Treatment (S&DT) for developing countries (DCs), were considered by the latter at the time to have been some of their important achievements in the 1950s and 1960s....

The East Asian countries achieved extraordinarily fast economic growth during the last four decades. Indeed, it would be no exaggeration to say that they represented the most successful case of rapid industrialisation and sustained economic growth in the history of mankind. An economy like South...