Gabon is currently one of the richest countries in Sub-Saharan Africa, having a GDP per capita of close to $4,000, and is characterized by a stable political climate and rich forestry and mineral resources, aswell as a small population. Oil is the key economic sector, accounting for half of GDP...

A crucial step in policy analysis involves computing consequences of policy actions. The author shows how to implement numerically a general equilibrium model in EViews. Computable general equilibrium models are now commonly used in both industrial and developing countries to assess the impact...

The authors investigate the impact of India's program of economic stabilization and trade liberalization launched in 1991, a year when the country was in the throes of a foreign exchange crisis. The authors address a key policy tradeoff between trade liberalization and fiscal adjustment arising...

The author aims to empirically determine the significant factors that affect the levels of budget deficits of central governments across time and across countries. He empirically tests two prominent theories of budget deficits-the Barro (1979) tax-smoothing approach, and the still-untested...

The current economic crisis in Argentina is only partly the result of inappropriate domestic policies to cope with the recent external shocks. Years of inappropriate policies have damaged Argentina's economy. Even if no external shocks had occurred, the country would still have to change the...

Current attempts at reform in Eastern European countries raise important issues of macroeconomic management in the transition from central planning to a market or mixed economy. This paper develops simple models, reviews empirical evidence and discusses policy issues associated with traditional...

Korea is an interesting case study in long-term and short-term adjustment. The country's rate of economic growth after 1965 was high at a time of rapid, fundamental economic restructuring. It's open, export-oriented economy was exposed to oil price shocks and interest rate hikes. To keep up the...

The Islamic Republic of Iran has committed itself to substantial trade and market reform in its Third Five-Year Development Plan. It started out with nontariff barriers on all products, a dual exchange rate regime with the market rate more than four times the official rate, and domestic energy...

The purpose of this paper is to study the impact of external shocks on an economy which was well along the path of transition to outward looking policies. The shocks in question were a deterioration in the terms of trade, slowdown in the world economy during the period 1978-82, and an increase...

This paper examines the adjustment policies applied by two East Asian newly industrializing economies, Korea and Taiwan, in the period following the quadrupling of oil prices in 1973. As an introduction to the discussion, the policy performance of the two East Asian economies prior to 1973 is...