While there is growing evidence of persistent or even permanent output losses from financial crises, the causes remain unclear. One candidate is intangible capital - a rising driver of economic growth that, being non-pledgeable as collateral, is vulnerable to financial frictions. By sheltering...

Commodity booms are usually associated with commodity-exporting countries suffering from real exchange rate appreciation and negative economic consequences, that is, Dutch disease. Yet, there are different ways to manage or not manage the commodity rent earned via exports. Based on a monetary...

This paper argues that the Brazilian economy went recently through a process of accelerated growth driven by exports and fixed capital formation. Although the pace of growth was more robust than in the 1990 decade, we can still see the presence of macroeconomic constraints to its continuation in...

This paper proves that, in order to accomplish the highest economic development at macroeconomical level, it is necessary to maintain and manage imbalances, so that they do not become unbearable. For this purpose, South-Koreans have created the ‘South-Korean essentials’, an extremely complex...

This paper's aim is to provide a different standpoint in the development debate, by focusing on the short-sightedness of the international institutions when they propose a development agenda. Focusing on macroeconomic performance and on privatisation, they have found a solution in PPPs, which...

Turkey's relatively recent engagement with sub-Saharan Africa has been the subject of debate among scholars and policymakers. Various attempts have been made to answer questions such as “why Africa?” and “why now?” but these have largely ignored two key variables explaining Turkey's...

The present paper presents an analysis of the key elements of Modinomics, defined as “everyone's participation, everyone's progress.” It investigates the reasons why Modinomics was necessary, the key elements of Modinomics, and how this policy was implemented, as well as two deep structural...

It is typically assumed that countries in the Caribbean suffer from a lack of output and export diversification. Contrary to this popular perception, we find no evidence that output variability is higher in Caribbean countries than in larger, more diversified, developing economies. In addition,...

The agricultural sector has experienced increased haphazard policy interventions and has been exposed to different policy uncertainties. However, relatively little empirical research has been done on how economic policy uncertainties (EPU) affect agricultural exports. Thus, this paper explores...

Despite Kenya dominating trade volumes in the East African Community (EAC), it has been trading below its potential within the region. This is also in spite of the increased scope of the country's trade opportunities resulting from the region's increased market integration. Empirical evidence...