In this paper we propose an Open Economy Financial Accelerator model along the lines of Greenwald-Stiglitz (1993) close in spirit but different in many respects from the one proposed by Greenwald (1998.) The first goal of the paper is to provide a taxonomy of the effects of a devaluation in this...

A basic problem faced by most economies at early stages of their development is how best to raise the investible surplus for rapid accumulation: to what extend should the burden be placed on those in the agricultural sector (by lowering the price of their output relative to the industrial...

Die Autoren gehen 1.) der Frage nach, wie der Wandel bezüglich des Handels der intrasektoralen Distribution innerhalb der Landwirtschaft in der VR China aussieht, und 2.) der Frage, welche landwirtschaftlichen Güter besteuert und welche subventioniert werden sollen. Weiterhin werden Reformen...