Most small island economies or "microstates" have distinctly different characteristics from larger developing economies. They are more open and vulnerable to external and environmental shocks, resulting in high output volatility. Most of them also suffer from locational disadvantages. Although a...

This works covers peculiarities of formation of Georgian monetary system in XI-XII centuries and their effect on the international financial and economic relations. In this works we have researched the matters of formation of monetary policy of feudal age and their effect on development of...

This paper attempts to provide a coherent general equilibrium explanation for the joint U.S-British evolution during the last thousand years. We typified this period by initial Malthusian stagnation (before 1500); discovery and colonization (between 1500 and 1750); independence of the colony and...

The last events which took place after the 1st January 2007 and Romania's admission in the European Union imply a sustainable and continuous economic growth, in order to reduce economic and social disparities between our country, EU average and other EU members, through a mobilization of the...

In the late 1990s, as economists looked back the development period in Africa since 1970s, they put forward the notion “African growth tragedy” , meaning that Africa's poor growth and resulting low income is associated with low schooling, political instability, underdeveloped financial...

This paper offers a thesis for why the US overtook the UK and other European countries in the 20th century in both aggregate and per capita GDP as a case study of recent models of endogenous growth, where “human capital” is the engine of growth. By human capital we mean an intangible asset,...

Slowdown of industrial growth, particularly since the late sixties, had attracted a great deal of scholarly attention in India. That ongoing scholarly discussions created a debate which was in marked contrast to the relative consensus that prevailed in the professional economic circles in the...

Between 2000 and 2017, Latin America presented a positive economic performance, with an average GDP growth of 2.6%. This helped in the decrease of unemployment, poverty and inequality rates. Nevertheless, improvements prove to be deficient and did not better social discontent and mistrust....

During the period 2000-2017, the Mexican economy was characterized by favourable results at the macroeconomic level. Among other factors of good performance, GDP increased from US$707.9 billion to US$1224 billion. However, growth was uneven within the country and there were large gaps between...