From 2003, the Indian economy enjoyed a boom in growth coupled with moderate inflation for five years. The economy grew at a rate close to 9 percent per year, until it was punctured by the global financial crisis of 2008. Since then, the persistence of inflation in an environment of falling...

Foreign direct investment (FDI) has of late been revered as the solution to a great deal of the developing world’s problems. This paper seeks to examine the macroeconomic link between foreign direct investment in South Africa, and its resultant impact on potential output. Cointegration...

The recent global financial crisis illustrates that financial frictions are a significant source of volatility in the economy. This paper investigates monetary policy stabilization in an environment where financial frictions are a relevant source of macroeconomic fluctuation. We derive a measure...

The Middle East and Central Asia’s economic growth potential is slowing faster than in other emerging and developing regions, dampening hopes for reducing persistent unemployment and improving the region’s generally low living standards. Why? And is it possible to alter this...

Korea’s rapid growth has slowed in recent years, suggesting lower potential growth. This paper uses an array of techniques, including statistical filters, a multivariate model and the production function, to estimate Korea’s potential growth. The main finding is that trend growth...

The study explores different aspects of employment and labour market prevalent in large in UAs, in particular global cities. To capture the role of labour market in urban agglomeration, particularly pooling of labour and concentration of economic activities, the paper present a case study of...