During the debate about PRC's entry into the WTO, it was assumed by the proponents of joining the WTO that the export-led growth will continue and under WTO regime it will also lead to the modernization of the economy along the lines of the other newly industrialized economies(NIEs) of Asia. If...

An evolutionary theory of international financial institutions is developed and two broad types of possible (evolutionary) equilibrium Global Financial Architectures(GFAs) are identified. The first is called an overarching type, exemplified by the classical gold standard and the defunct Bretton...

The dynamic and multi-objective programming is used here to establish a risk measurement model. We develop an iterative algorithm and the convergence conditions for the model solution. The results obtained from the model developed here show that the sum of the interactive utility value (IUV)...

The paper tests <i>the democratization-development hypothesis</i>, namely that democratization has a positive impact on growth, economic development and changes in well-being. We employ a probit model to estimate the probabilistic indicator for democracy for a large sample of countries. Panel...