The paper deals with the problems of coordination between monetary and fiscal policies in the Euro area. It examines how the existing institutions handle these problems and presents a proposal to reorganize them. The paper points out that, contrary to what is often stated by the literature,...

This paper examines the causes of conflict in Burundi and discusses strategies for building peace. The analysis of the complex relationships between distribution and group dynamics reveals that these relationships are reciprocal, implying that distribution and group dynamics are endogenous. The...

The paper examines grounds on which a `second opinion’ to the Washington Consensus may be constructed using data for a sample of 123 rich and poor nations for the period from 1960 to 1995. The historical record makes abundantly clear that international inequality has increased not only over...

China’s development model faces an external constraint that could cause an economic hard landing. China has become a global manufacturing powerhouse, and its size now renders its export-led growth strategy unsustainable. China relies on the U.S. market, but the scale of its exports is...

This study explores the determinants of investment using both aggregated industry-level data and disaggretated data on 27 sub-sectors of the manufacturing sector for the period 1970-2001. According to the results in this study, the government has potentially powerful means at its disposal to...

In the Amazon rainforest, Brazil's rubber tappers were the first social group to challenge the predatory development model that is threatening ecological disaster there. Their strategy to set up “extractive reserves”—conservation areas where the local population can harvest non-timber...

We present new estimates of the rentier share of national income for OECD countries for the years between 1960 and 2000. For most countries, the rentier share of income significantly increased during the last several decades, starting in the early 1980's and coinciding with the shift to...

During the transition to capitalism, postcommunist countries have experienced unprecedented mortality crises, although there has been considerable variation within — and between — countries and regions. Much of this variation remains unexplained, although alcohol and psychological stress...