The Council for Mutual Economic Assistance (CMEA) was established by Bulgaria, Czechoslovakia, Hungary, Poland, Romania and the Soviet Union in 1948 as a response to the Marshall Plan. But unlike the Marshall Plan it provided no financial assistance to its member countries and its activities...

The United States has often been criticized for protectionist measures taken against developing country products. Yet, average agricultural protection has reemained practically nil in the U.S. over time, while rising in the European Common Market (E.C.M) and, even more, Japan. It further appears...

This paper reports on tests of alternative hypotheses as to the effects of a budget deficit, examines the influence of the size of the government on economic growth, and investigates the impact of public investment on private investment, total investment, and economic growth. The findings have...

Developing countries are well advised to adopt appropriate tariff and tax policies. An ideal scheme of such policies would include the following : 1) export taxes should be set on the basis of the long run elasticity of foreign demand in the case of commodities in which the country has market...

This paper examines the implications for EMENA of EEC trade policy. Following an analysis of EEC trade agreements with EMENA countries, the paper has shown that EMENA's trade performance in the EEC has been far from uniform. While Turkey and Morocco, who carried out economic reforms, increased...

This paper presents a quantitative analysis of adjustment programs in developing countries that received adjustment loans from the World Bank. Data have been provided for loan recipients and non-recipients in Sub-Saharan African, low-income, low-middle income, and upper-middle income countries....

The exploitation of the Soviet Union's foreign trade potential would necessitate adopting a realistic exchange rate and increasing the foreign exchange retention quotas for direct and indirect exporters. It would also require reforms of domestic policies. The first prerequisite is the...

In the McKinnon and Shaw analysis, financial liberalization is defined to mean the establishment of higher interest rates that equate the demand for, and the supply of, savings. It expresses the views that higher interest rates will lead to increased savings and financial intermediation as well...

This paper provides evidence on the effects of interest rates on savings in developing countries. While the evidence is not conclusive, time-series estimates for individual countries as well as cross-section and time-series estimates for a number of countries point to the positive effects of...

Exports in general, and agricultural exports in particular, are more responsive to price incentives in Sub-Saharan Africa than in developing countries.. These are the results of an econometric investigation on the effects of real exchange rates on exports. It further appears that in Sub-Saharan...