The issue of EDC became increasingly important in the field of development economics primarily because EDC has been occurring more frequent after the deregulation of global financial flows in the 1970s (Tiruneh 2004, Jones 2015) hitting mostly MICs and LICs. Assessing the probability of an EDC...

The Legal Tender Act of 1862 offers a blueprint solution to our current economic crisis. The U.S. Government issued its own currency rather then relying on banks. This allowed the North to finance and win the civil war while keeping the economy solvent. The same solution can be used today to...

Has the global financial crisis of 2007ff had a visible impact on the economics profession? To answer this question we employ a bibliometric approach and compare the content and orientation of economic literature before and after the crisis with reference to two different samples: A large-scale...

This paper traces the development of Bertil Ohlin's views on issues such as the causes of the depression of the 1930's, policies against the depression, the use of fiscal and monetary policies, and tariffs and public works to stabilize the business cycle. We examine about 80 of his articles on...

The 2008 economic crash led to remarkable shifts of opinion among world leaders. Does this crisis create favourable conditions for the reform and revitalisation of economics itself-from a subject dominated by mathematical techniques to a discipline more oriented to understanding real-world...

We scrutinize the systemic consequences of state intervention triggered by external shocks in the transforming Chinese economy before and after the global crisis. We interpret investment dynamics using a comparative party-state model concept framework. We identify the overinvestment as an...

In the aftermath of sovereign default of August 1998, the hypothesis of virtual economy in Russia developed by Gaddy and Ickes has gained popularity. The hypothesis states that the country has not moved towards free-market economy but developed a system of implicit price subsidization similar to...