Recently developing countries have focused attention on the usefulness of tax expenditures' in shaping prudent and transparent fiscal policy. In adopting a market economy, developing countries commonly use tax expenditures as major fiscal policy instruments. However, with limited theoretical...

The case studies focus on specific attempts made by a number of small states to overcome the handicaps of their size and isolation and take advantage of growing opportunities for integration with their neighbors and with the rest of the world. Two policy issues have been of prime importance in...