This is an introduction to a new development in the international arena that poses a threat to the ability of countries to tailor patent and regulatory laws to promote access to medicine. Basically, certain international agreements permit foreign companies to sue a country for compensation if...

We explore conditions under which collaboration between pharmaceutical firms from 'advanced' and emerging countries becomes preferable to rivalry. We show that that when agreements, such as Trade Related Aspects of Intellectual Property (IP) Rights, allow advanced country firms to take legal...

Conventional economic analysis assumes that Central Counterparties (CCPs) may help to reduce systemic risk and avoid future financial crises by mandating the central clearing of over-the-counter (OTC) derivatives. This view largely goes unchallenged by governments, regulators, practitioners, and...

In this paper we study long run economic growth as a sequence of accelerations, slowdowns and crises, and estimate the role of institutions and macroeconomic policies in determining this sequence. We analyze the joint effect of policies and institutions on the frequency of the four growth...

This paper analyzes the factors associated with economic growth in Myanmar by extending the Trade-FDI-led growth model with human capital and financial development through a Vector Error Correction Model (VECM). Vector Error Correction Model is a form of Vector Autoregressive, which has...

It is the central thesis of this paper that imperialism retarded the development of human resources in lagging countries during the century ending in the 1950s. This result is established both theoretically and empirically. Controlling for other factors that might affect stocks of human capital...

This paper surveys the theoretical and empirical literature on the effects of the real exchange rate (RER) on international trade, economic development and growth. We summarize the main conceptual issues, discuss the relevance of the RER as an instrument of development policy, provide an...

There are substantial disagreements on the impact of macroeconomic policies on poverty. While past criticism of stabilization and adjustment programs have led to considerable changes in program implementation and program content, heated debates on the impact of macroeconomic policies on poverty...