The globalization of world capitalism constrains the ability of the developmental state to pursue an independent industrialization and foreign trade strategy. We use an intertemporal, multiregion CGE model, to study the fundamental reasons for a financial crisis. We find that we can create a...

After a brief discussion of the characteristics of global financial markets, the paper points out how the current global environment robs government of their autonomy in setting macroeconomic and development policies. It describes how attempts to set interest rates or exchange rates trigger a...

Excerpts from an interview with Dr. Irma Adelman. After graduating at the top of her class in 1955, Irma faced considerable difficulties in landing a tenure-track academic position, which was typical of the discrimination against professional women at the time. She held various nontenure...