This paper develops a dynamic theory that accounts for the evolution of trade policy, underlying internal class conflicts, and output growth performance over the last few centuries. By analyzing political responses to the distributional effects of international trade, it finds a prominent...

The study reveals that there is a relationship between foreign direct investments, trade, and growth rate of per capita GDP for Bangladesh with the help of annual time series data for 1973 to 2014. The Vector Error Correction Model (VECM) analysis shows that there is a long-term relationship...

This paper looks at the importance of the terms of trade for the New Zealand economy by examining the impact of changes in the trend and volatility of the terms of trade on economic growth. It is found that the volatility in the terms of trade has had a negative impact on New Zealand's economic...

This paper examines how macroeconomic policies can be managed to accommodate a large inflow of foreign aid to combat the HIV/AIDS epidemic and still maintain macroeconomic stability. Because of the daunting scale of this epidemic, funds need to be disbursed urgently in order to contain its...

As per the balance of payments constraint hypothesis, in an open economy, achieving a high long-run rate of growth would require a country to reduce its balance of payments constraint through an improved export performance, and the production of import substitutes, which would lower the income...

Developing countries, of which Ghana is no exception have actively engaged in trade openness after independence, yet, their economic growth remains low and this calls for urgent attention to address the situation. This study therefore examines the impact of trade openness on economic growth of...

Increase in industrial output is an important indicator to identify the socio-economic development of a nation. India is one of the fastest-growing economies in the world; using its comparative advantage and capitalizing its educated youths, it tries to be as a hub of manufacturing in the world...

In this study, we investigate the relationship between current account deficits and growth in Montenegro by applying the bounds testing (ARDL) approach to co-integration for the period from the third quarter of 2011 to the last quarter of 2016. The bounds tests suggest that the variables of...

Since the early 2000s German exports and net exports have grown persistently, generating huge current account surpluses. These surpluses have added to immense current account imbalances within and outside the European Monetary Union (EMU). Contributing to the economic policy debate of whether it...

Zimbabwe faces growth and external competitiveness challenges, as indicated by its low trend growth and investment, declining share in the world exports, high current account deficits, and external debt. The stock-flow approach to the equilibrium exchange rate reveals that the real exchange rate...