The paper provides an overview of the role of the fiscal imbalances and the ensuing public debt in explaining major episodes in Israel’s recent economic developments. The main conclusions from the Israeli budgetary developments may have more general validity: (a) deficits lead to inflation and...

We develop a simple information-based model of FDI flows. On the one hand, the abundance of ""intangible"" capital in specialized industries in the source countries, which presumably generates expertise in screening investment projects in the host countries, enhances FDI flows. On the other...

Key Features:The book should stand out from the rest of the pack because of its timeliness, authoritativeness, focus and scopeThe book rests on the latest research of the Stockholm Institute for Transition Economies, and Asian scholars participating in a Japan Foundation sponsored project on the...

Comparative Economic Systems: Culture, Wealth and Power in the 21st Centuryexplains how culture, in various guises, modifies the standard rules of economic engagement, creating systems that differ markedly from those predicted by the theory of general market competition. This analysis is...