are expansionary to output and credit growth. But contrary to the model predictions and empirical findings of Blanchard et … impact on output and credit growth if the exchange rate is managed, if the domestic capital market is underdeveloped, if the … Blanchard et al. (2015), non-bond inflows have a positive overall impact on output and credit growth despite receiving …

This paper presents a stock-flow-consistent model in which growth is led by exports and government expenditure. It … an external shock led by a hike in US Fed foreign interest rates may impact growth and income distribution in a … average growth rates by providing liquidity in foreign currency. …

, the countries of the region have made significant progress in their development, and have far-reaching growth prospects … points of further economic growth. The strategic role of Central Asia in the vast Eurasian space will be increasing: the …