The global financial market has been shaken throughout the nineties by a series of major financial crises. Attempts to stabilize the global system have led to large bailouts. This system cannot survive indefinitely. The willingness of taxpayers in the industrialized (OECD) countries to engage in...

In this study, we describe the challenges of managing Himalayan rivers as a result of climate change and the industrialization and economic growth of India and China. We discuss a range of conceptual issues relevant for negotiations over the management of Himalayan rivers. We introduce the...

Recent articles have rekindled discussions around the direction and relevance of US business schools. The two main viewpoints are distinct but equally critical. On one hand, business schools are considered overly focused on “scientific research†and having lost their connection to...

The September 2004 issue of the American Journal of Sociology contains an article by Firebaugh and Goesling arguing that global income inequality has declined in recent decades as a result of economic globalization. This paper examines the methodological choices made by the authors, and some...

Markets establish a range of ways of exchanging goods and services through the medium of money. The ubiquity of markets in most parts of the world, and the frequency of our participation in them, encourage the impression that markets and the buying and selling of goods involve simple processes....

To identify the determinants of cross-country disparities in personal computer and Internet penetration, we examine a panel of 161 countries over the 1999-2001 period. Our candidate variables include economic variables (income per capita, years of schooling, illiteracy, trade openness),...

We have certainly been living in interesting times. While avoiding the worst connotations of that concept (no global war or other catastrophe), we have seen the fall of communism, the rise of information technology, and the beginnings of a shift in the global economic balance, back toward the...

This paper discusses recent developments in the empirical modeling of U.S. import and export flows, and the implications for adjustment of the trade balance in response to changes in the value of the dollar and relative incomes. The results of examining the behavior of trade flows in the period...

These essays first appeared as columns in the Financial Express, one of India’s leading financial dailies. Together, they provide what I hope is an integrated perspective on where Indian policy and institutional reform is going, and what remains to be accomplished. Each piece is...