After a long period of catch-up growth that began after the Second World War, France has now reached a technological frontier in many sectors of its economy. Why is it then that the French economy ranks so low in various rankings of the world's most innovative economies? Why is it so difficult...

For the development of a country, its financial and economic backbone must be strong. This is especially true in the case of developing countries, who attach great importance to financial sector development and deepening in the pursuit of their poverty reduction goal. The financial sector...

Global demand for manufactured goods has fallen in the wake of the world-wide financial crisis and ensuing G-7 consumption slowdown. This drop in demand has pushed China's economy to the brink of a “growth recession” – conventionally defined as a period of weak economic growth and rising...

Eastern Europe is one of the fastest growing transition economies of the world. The post-socialist countries of Central and Eastern Europe, especially the Czech Republic, Hungary and Poland, continue to undergo a radical economic reform program via microeconomic liberalization, macroeconomic...

This paper, based on the introductory remarks made at the two-day conference on “The State of the Economy, the State of the World,” is an idiosyncratic stocktaking of the trajectory of economics from Adam Smith to contemporary times, with special attention to the rise of development...

It is being repeatedly theorized that most of Arabic countries are still have long road for development. Classified as developing countries they should be requiring improvements in their economic performance parameters and the behavior of their productive variables. However, Iraq was a unique...

This article seeks to explain Africa's current quot;period of unparalleled economic success,quot; following decades of economic stagnation. Using newly available data, we investigate whether international commodity price increases (our quot;metalsquot; hypothesis) or policy reforms (our...

This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve: how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...

This paper uses the multivariate cointegration technique proposed by Johansen (1988) and Johansen and Juselius (1990) to examine the linkage between the real and financial variables in Korea. Johansen cointegration test supports the long run equilibrium relationship between the financial sector...

This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve: how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...