This paper argues that China’s attitude to multilateral trade is unclear. Moreover, China assumes little responsibility to maintain international order in global economic governance. Furthermore, this paper argues that China should hide less behind the status of a developing country and stand...

Recent research highlights that countries differ with respect to their experience with capital flows and do not systematically gain from capital account liberalization. This paper contributes to the empirical literature that investigates the circumstances under which international financial...

This working paper was written by Yin-wong Cheung (University of California, Santa Cruz) and XingWang Qian (University of California, Santa Cruz).Motivated by the observed international reserve hoarding behavior in the post-1997 crisis period, we explore the Mrs Machlup’s wardrobe hypothesis...

Emerging market economies, which have much of their growth ahead of them, either run or should run persistent current account deficits in order to smooth consumption intertemporally. The counterpart of these deficits is their dependence on capital inflows, which can suddenly stop. We make two...

The US government debt is now in uncharted waters. From the founding of the nation until 1968, government debt moved up and down without a trend, but over the past 50 years, debt relative to the size of the economy has increased continuously. The United States does not appear to have a coherent...

Productivity growth has flat-lined in most economies despite rapid advances in technology. Economists suggest competing explanations for this paradox. Some argue the current stagnation will persist given deep structural challenges, arguing that recent technological advances are no match for...

The study sought to determine the effect of real effective exchange rate on economic growth in Ghana using annual data from 1984 to 2014. Data was sourced from the databases of the World Bank, the Bank of Ghana annual bulletins, and the Ghana Ministry of Finance and Economic Planning. Using the...

We examine 994 estimates of the effects of IMF programs on economic growth as reported by 36 studies. The mean reported effect is positive, but the estimates vary widely. We use meta-regression analysis to disentangle sources of this variation, addressing model uncertainty with Bayesian Model...

This chapter provides a review of China’s economic growth since 1978. Studying China’s economic success may shed new light on the political economy of growth, the impacts of the ascent of large countries on the rest of the world, and the relationship between inequality and economic growth....

Employing a panel data modelling technique, we provide the answers to two critical research questions: what is the linkage between FDI and economic growth and does this relationship change under different legal, institutional, educational and economic conditions? Overall the analysis supports...