In 1975, the President of India declared a state of emergency (the Emergency), granting Prime Minister the power to rule by decree. This paper investigates the economic fallout of this exceptional event in India's post-independence history. The analysis shows that the Emergency adversely...

Local telephone companies serving higher cost areas qualify for subsidies to defray many of their expenses. High Cost Loop Support assists companies with above-average loop expenses. Local Switching Support subsidizes switching expenses of companies with fewer than 50,000 lines. Both schemes...

The paper focuses in the calculation of the oil capital value in a small open economy depending on oil rents. The Venezuelan case is used as an example. In valuing the oil capital, two issues are recalled and discussed: how should the exploration costs and the capital gains be treated? It is...