This paper surveys balance of payments constrained growth models from Thirlwall’s original contribution in 1979 to the latest tests of the model using cointegration techniques. Historical antecedents of the model are explored (e.g. the Harrod trade multiplier; dual gap analysis; Prebisch’s...

This paper surveys balance of payments constrained growth models from Thirlwall's original contribution in 1979 to the latest tests of the model using cointegration techniques. Historical antecedents of the model are explored (e.g. the Harrod trade multiplier; dual gap analysis; Prebisch's...

The eleven papers collected in this volume present the results of the research activity undertaken by the participants in the project -The return to Keynes. Speculation and stabilization policies: money and commodities- financed by the Italian Ministry of Education (PRIN 2008). They focus on...

The trends in food inflation over the past 60 years are given. Having thus set the context, the factors driving structural food inflation, which should give us a perspective of the underlying dynamics and the nature of the challenge are also brought out. The policy measures for addressing the...

This paper addresses the efficient management of natural resource revenues in capital-scarce developing economies. We depart from usual prescriptions based on the permanent income hypothesis, since for capital-scarce countries it is preferable to invest domestically. Since revenue streams are...

This paper investigates the impact of income and non-income shocks on child labor using a model in which the household maximizes utility from consumption as well as human capital development of the child. We also investigate if access to credit and household assets act as buffers against...

Stabilization of prices is an important element of food policy in India as in most other countries - both developing and developed. However, since the magnitude of grain stocks held for this purpose as well as the costs of physical storage have become prohibitively high, there is now a need for...

This paper investigates the impact of income and non-income shocks on child labour using a model in which the household maximizes utility from consumption as well as human capital development of the child. Two types of shocks are considered: agricultural

Use of agricultural input and farm support subsidies in Africa has returned strongly to the development agenda, particularly following the recent high food and input prices crisis. Many of the donors who opposed them in the past and subsequently put pressure to discontinue them due to their high...