In this paper, we show that if capital and labour are complementary inputs and labour is in surplus[LS], economic development will reduce investment in the agricultural sector. We analyse the impact of factor substitutability and factor mobility on economic welfare as indicated by changes in...

Purpose – The purpose of this paper is to discuss the potential benefits of monetary policy rules for transition economies (TEs). Design/methodology/approach – The paper discusses monetary policy rules, inflation targeting, political risk and ambiguity and monetary policy and ambiguity....

This paper analyses a no-Ponzi-game condition (NPG) for the government's surplus in Peru, Philippines, South Africa, Thailand, and Venezuela using annual data and cointegration methods. With the marginal exception of South Africa, the NPG cannot be found to hold in the countries investigated. An...

In this paper, we modify the Harris-Todaro model of migration to incorporate the impact of human capital, housing stock and the availability of publicly provided goods like health care and road provision to analyse the determinants of migration in different regions of the transition economy...