By simulating a model of the optimal level of saving in a small open economy, this paper calculates the levels of optimal national saving, investment and the current account balance for five Asian countries, Hong Kong, Japan, Singapore, Malaysia and Philippines, for the period from 1997 to 2050....

This paper explores prospects for the world economy to the year 2020 through a series of scenarios based on different assumptions about future changes in the structure of individual economies. It differs from most other medium term studies because we do not assume that each economy's variables...

The joint behavior of investment and the current account is derived as a triangular simultaneous equations model. To estimate this model for the G7 countries, we propose a full-information GLS estimator for panel data that extends Zellner-Theil three-stage least squares estimator and allows for...

We examine the current account effect of a terms-of-trade deterioration for a small country model, incorporating weakly nonseparable preference a la Shi (1994) under endogenous time preference.

One of the consequences of globalization is the increased vulnerability of small nations to the events happening in the advanced world. This study estimates the macro-economic linkages between the GCC and the G7 countries. A small model has been developed with only seven key variables. Four of...

This paper sets out to investigate some aspects of the differential inpact of the process of globalization on labor oucomes in countries of the MENA region. It examines the impact of the process of globalization on the nature of labor processes and the new employment profiles, explores the...

Although the last three decades represent only the most recent episode of Egypt's "opening up to the world", their impact on the Egyptian economy and society seems much wider and goes much deeper than anything that Egypt had experienced before, this justifies the use of the relatively new term...

This paper develops a theoretical model of direct foreign investment to analyze the changing role of regulatory policies in developing countries in the presence of globalization. The main result is that deregulation is an optimal responde to globalization, at least in countries that face a FDI...