There is a considerable literature on the growth performance of the sub-Saharan countries, which tends to focus on average rates of growth over shorter or longer periods. This paper demonstrates that a key characteristic of the countries of the sub-Saharan region is the instability of growth...

The standard policy rule of the Mundell-Fleming model states that under a flexible exchange rate regime with perfectly elastic capital flows, monetary policy is effective and fiscal policy is not. The rule ignores the effect of a change in the nominal exchange rate on the domestic price level....

The neighborhood has been used as a sampling unit for exploring variations in health outcomes. In a variety of studies census tracts or ZIP codes have been used as proxies for neighborhoods because the boundaries are pre-defined units for which other data are readily available. However these...

The recent instability in financial markets demonstrated the inadequacy of the mainstream treatment of money and the underlying production base. This has stimulated interest in the possible role of a money commodity. I demonstrate that the fundamental function of monetary theory, an explanation...

This paper inspects the standard policy rule that under a flexible exchange rate regime with perfectly elastic capital flows, monetary policy is effective and fiscal policy is not. The logical validity of the statement requires that the effect of an exchange rate change on the domestic price...

In August 2009 the African finance ministers issued the Freetown Declaration, in which they committed their governments to “implement fiscal stimulus measures” to counter the effects of the international financial crisis on their economies.  This paper analyzes the feasibility of realizing...

This Companion takes stock of the trajectory, achievements, shortcomings and prospects of Marxist political economy. It reflects the contributors’ shared commitment to bringing the methods, theories and concepts of Marx himself to bear across a wide range of topics and perspectives, and...