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...

Comparisons of India and China have been made for over 50 years. This paper focuses on purchasing power estimates in China and India in the 2005 round of the UN International Comparison Programme (ICP) that was coordinated by the World Bank, the Regional Banks and Economic Commissions. The 2005...

In the present contribution, we concentrate on the process of financial liberalization in a specific context of European economic and monetary integration. We implement de facto and de jure measures of financial liberalization and find that formal aspects of financial openness generate a...

This paper analyzes the impact of financial openness on the size of the government in a stochastically growing small open economy when public spending is productive and volatility-reducing using a portfolio approach. The main result of the model is that economies that are more open are...

In this overview we try to explain, first, why funds continued to flow towards emerging economies while fundamentals in host countries had been deteriorating before the Asian crisis (rising external deficit, with a significant liquid component appreciating exchange rates; low capital formation,...

The paper reviews India's macroeconomic performance and policies since 2000. The first section briefly summarizes key macroeconomic developments regarding economic growth, inflation, external balance, the fiscal situation and aggregate savings and investment. The second section considers some of...

The aim of this study is to test the existence of balance of a payments constraint on the long run economic growth of the Turkish economy. The balance of payments constrained growth (BPCG) model which was developed by Thirlwall (1979) and extended by Thirlwall and Hussain (1982) is tested over...

The paper reviews the evidence of the impact of trade liberalisation on the economic performance of poor developing countries with respect to poverty reduction, the distribution of income within countries, the distribution of income between countries, trade and the balance of payments, and...

The paper empirically examines the differential effects of trade on economic growth and investment based on cross-country data. In general, the results are largely consistent with the positive impact of trade on economic growth as found in the literature. However, the empirical results based on...