As I am writing this book, Russia is invading Ukraine, and the world’s beliefs in global institutions, peace, humanism, and social progress have been shaken again. Understanding why conflict is endemic to any social relation, under which conditions it is a positive element in social life, and...

Purchasing power parity is a widely used measure to compare national GDPs. However, while this measure works well for countries which are at the same level of economic development, PPP is grossly inadequate when comparing developing and developed nations. The best example to demonstrate this is...

This study inquiries the determinants of trade Costs of Afghanistan with its Major Trading Partners. The study elaborates the determinants of trade costs include transportation costs (both freight costs and time costs), policy barriers (tariffs and non-tariff barriers), information costs,...

In this study, we examine the drivers of persistent exchange rate depreciation in Nigeria and suggest remedial monetary policy actions based on inference from the results. Using time series data from January 2008 to June 2023, the following potential drivers were examined: price level...

This paper highlights the COVID-19 economic impact on Cameroon. We access broadly the impact that COVID-19 will have or already has on the different economical sector in Cameroon. By this period, cases are still increasing in Cameroon and there is a huge uncertainty about when this global...

Financial crises are historically associated with the “4 deadly D’s”: Sharp economic downturns follow banking crises; with government revenues dragged down, fiscal deficits worsen; deficits lead to debt; as debt piles up rating downgrades follow. For the most fortunate countries, the...

Abstract In this paper we analyse the determinants of the trade flows between Developed and Developing Countries using an augmented version of the Gravity Equation. We add two extra variables: the technological distance and the bilateral real exchange rate (RER). The former allows us to analyse...

We highlight in this note how an application of a similar estimation approach as ours to Colombian data for a more recent period following financial and capital account liberalization may find that the money supply is "endogenous" (i.e. demand-determined as long as the exchange rate is heavily...

This paper constructs a two-country (Home and Foreign) general equilibrium model of Schumpeterian growth without scale effects. The scale effects property is removed by introducing a distinct specification in the knowledge production function which generates semi-endogenous growth. In this model...

Beginning with ’90 years in Romania have been created more and more private enterprises, which today form a consistent sector of so called “small and mid-sized enterprises” (SMEs). Focusing on profit and being in favorable conditions with a high market require, the SMEs not always pay...