The paper questions the assumption in all of mainstream growth theory that the Harrod natural rate of growth is exogenously determined and independent of the pressure of demand in an economy. First a simple statistical technique is presented for estimating the natural rate of growth, and then it...

The East Asian miracle was real. Prior to the 1997 economic and currency crises, Asian NICs Hong Kong, Korea, Singapore and Taiwan achieved remarkable annual GDP growth. In these countries the overall economic performance was significantly determined by the industrial development triggered by...

The East Asian miracle was real. Prior to the 1997 economic and currency crises, Asian NICs --Hong Kong, Korea, Singapore and Taiwan-- achieved remarkable annual GDP growth. In these countries the overall economic performance was significantly determined by the industrial development triggered...

This paper provides a theoretical formalisation of the joint-venture contract, as an alternative to Foreign Direct Investment (FDI), within a Dissipation of Intangible Assets framework. In a two-period, two-country equilibrium model, we discuss how the threat of knowledge spillover shapes the...

This paper assesses the impact of government fiscal policies on income inequality in Asia. It discusses the role and effectiveness of redistributive fiscal policies and quantifies the effects of taxation and government expenditure on income distributions. Panel estimation for 150 countries with...

This paper aims to help Asian trade negotiators by examining the processes and results of the Uruguay Round. Analysts argue that trade negotiations are based on mercantilistic rules. But the actual outcome of the Uruguay Round suggests that trade bargaining was not based on strict reciprocity....

To date, slowdown trends in the global 𝐶𝑂2 emissions registered in 2012 to 2015 argue due to the transformation from an industrial based on a less-energy intensive services oriented. Nevertheless, inconsistent and insufficient evidence of the role of sectoral composition in influencing the...

The Chinese economy has been reasonably stable during the Asian financial crisis. However, there is a widespread speculation about the prospect of the stability of RMB, the Chinese currency. While the Chinese government has repeatedly promised the stability of RMB, many oversea economists have...