The richer a country, the higher its expenditure on health care. The increase in health spending which compared to the overall growth had taken place at a rather rapid pace experienced a worldwide slow-down during the 90s. In relation to overall economic growth and the expansion of other...

There are both positive and negative aspects to liberalisation policies.Liberalisation policies are no less important than any other kind of economic policies, and so it can only be healthy that what was formerly an obscure and technocratic process has moved to centre-stage politically. What’s...

The central purpose of this paper is to examine vertical integration as an equilibrium phenomenon. We model it as integration between Cournot oligopolists in both the upstream and the downstream stages. We consider the issue of private profitability versus collective profitability and show that...

On the basis of models I developed to simulate mathematical relationships between external debt and fiscal and balance of payments variables my thesis evaluates whether debt cancellation will overcome the debt overhang and crowding out effects of external debt and allow Severely Indebted Low...

The composition of the public expenditure affects the long-run growth rate (Barro, 1990, Devarajan, Swaroop and Zou, 1996). This paper has explored the existence of convergence in the structure of government expenditure by functions in the OECD countries for the period 1970-1998 and the...

This paper reviews policies for the control of mobile source pollution and their potential application in China. The first section of the paper reviews the U.S. experience with mobile source pollution control since regulations were first established in the Clean Air Act of 1970. Highlights in...

This paper investigates claims that fundamental policy changes aiming to disengage the state from the economy do not provide appropriate discourse for a new government in a newly democratised state. This view has a lot of support among Stalinist-Marxist scholars who believe that unmaking a...

In this paper I show that monetary neutrality proposition holds for one specific parameterization of a dynamic general equilibrium model of monopolistic competition even if nominal rigidity in a form of staggered price setting or partial adjustment price-setting mechanism is present in a model....

The United States Congress recently enacted sweeping legislation to overhaul the rules governing competition in telecommunications services. The Telecommunications Act of 1996 (see Congressional Record, 1996) is the first major rewrite of the Communications Act of 1934. It also supersedes the...

Bankruptcy brings the asset pricing implications of Lucas's (1978) endowment economy in line with the data. I introduce bankruptcy into a complete markets model with a continuum of ex ante identical agents who have CRRA utility. Shares in a Lucas tree serve as collateral. The model yields a...