"The macroeconomic experience of emerging and developing economies has tended to be quite different from that of industrial countries. Compared to industrial countries, emerging and developing economies have tended to be much more unstable, with more severe boom/bust cycles, episodes of high...

In den letzten drei Jahrzehnten haben weitreichende globale Transformationsprozesse den Gegenstandsbereich der Entwicklungsforschung grundlegend verändert und Entwicklungspolitik und -theorie vor neue Herausforderungen gestellt. Das PVS-Sonderheft 2013 nimmt eine Aufarbeitung der neueren...

This paper analyses the extent to which financial integration impacts the manner in which terms of trade affect business cycles in emerging economies. Using a s mall open economy model, we show that as capital account openness increases in an economy that faces trade shocks, business cycle...