The main thrust of this study has been to provide empirical illuminations to the debate on the effectiveness of foreign aid in driving sustainable growth and development. Using an extended Barro style model of aid-augmented government expenditure and economic growth, an analytical model is...

This article addresses Japan's economy, its new economic policy package, which is known as Abenomics. The centerpiece of Abenomics has been the three "economic arrows" targeted at aggressive monetary policy, flexible fiscal policy, and growth strategy. This article focuses on Abenomics and shows...

Issues of taxation and development, which have long been a central concern of the IMF, have attracted wider and renewed interest in the last few years. This paper reflects on three broad lessons of experience: that developing countries differ vastly in tax matters, and in ways that are less than...

This paper assesses why the 2008–2009 global economic recession impacted East Asia less than it did the United States (US) and the European Union (EU). The paper utilizes a “growth-with-resilience” (GWR) index aimed at measuring the extent to which a country can absorb or counteract...

This paper surveys the theoretical and empirical literature on the relationship between taxation and public expenditure and economic growth. Particular attention is paid to the effect of taxation and government expenditure on the supply and productivity of labor and physical capital. Studies...

The main thrust of this study has been to provide empirical illuminations to the debate on the effectiveness of foreign aid in driving sustainable growth and development. Using an extended Barro style model of aid-augmented government expenditure and economic growth, an analytical model is...

Although the theoretical literature has identified various sizeable benefits from foreign direct investment inflows (FDI), the empirical literature has been unable to establish a positive and significant impact of FDI on the rates of economic growth of host countries. One reason for this...

What role does unconventional monetary policy - and particularly unconventional policies like private asset purchases under a quantitative easing or lender of last resort scheme - play in influencing economic growth directly? Emerging and developing countries' central banks could contribute to...