This paper has measured the welfare cost, investigated the effects of and the recovery process of the 1997 Asian crisis, and evaluated the IMF-supported programs. The paper finds: (i) the ratios of ewhole costf to the consumption level of the hypothetical economy are large: 30% for Thailand, 50%...

In 1997 the World Bank's two vice-presidents for Sub-Saharan Africa attributed a significant improvement in Africa's growth prospects to the advent of a new generation of leaders, replacing their "once largely statist and corrupt" predecessors. This paper begins by tracing the evolution of...

The international development debate is increasingly referring to the notion of the "social contract" - often, however, without a clear definition of the term and its implications. We therefore make a suggestion for measuring at least some elements of social contracts in order to make it easier...

In 1997 the World Bank's two vice-presidents for Sub-Saharan Africa attributed a significant improvement in Africa's growth prospects to the advent of a new generation of leaders, replacing their "once largely statist and corrupt" predecessors. This paper begins by tracing the evolution of...

This paper aims to explore and analyse factors that hinder policy success in Zimbabwe. The paper discusses the nature of policy formulation, policy support and usefulness of joint policy formulation in Zimbabwe. A critical analysis of the current economic policy in Zimbabwe scheduled to...

This paper develops a 'structural political economy' approach to two fundamental tensions that emerged as the eurozone crisis unfolded: real exchange rate misalignments and external debt build-up. The approach builds on a classical legacy going back to Francois Quesnay, who conceptualised...