Collapsing credit markets have been blamed for the depth and persistence of the Great Depression in the United States. Could similar mechanisms have played a role in ending the East Asian economic miracle - and in creating fragility in global financial markets? After a brief account of the...

Turkish Abstract: Azerbaycan 18 Ekim 1991 de bağımsızlığını ilan ettikten sonra ekonomisinin liberasyonu ve serbest piyasa ekonomisine geçmek maksadıyla bir çok önemli reformlara imza atmıştır. Ekonomik hedeflerin gerçekleştirilmesinde ülkenin en önemli kaynakları ise hemen...

The spillover effects of strong dollar and euro, two dominant currencies, on emerging market economies (the periphery) are examined. This paper empirically studies the dominant currency shocks on foreign exchange (FX) constraint, economic growth, external debt, and inflation. Com-paring the...

This article discusses some implications of the physical concepts of information and economic value. These concepts under the general title "Physical Macroeconomics" were proposed by the author in interdisciplinary journals and books, as well as in a series of SSRN articles.The fundamental...

The economic embargo imposed on South Africa between 1985 and 1993 brought the country closer to financial isolation. This paper interprets the imposition and removal of the embargo as financial autarky and financial integration 'natural experiments', and studies the effects on the economy. The...

A growth model of a developing economy facing an upward sloping supply curve of debt is analyzed. Equilibrium is characterized by transitional dynamics in which consumption, capital, and debt converge to a common growth rate. The adjustment is through the debt-capital ratio, which drives the...

Little to no research exists to explain the structural components associated with the successful establishment of a knowledge-based economy. Nearly all developed countries are transitioning from service-based to knowledge-based and yet how to do so effectively and efficiently remains a mystery....

Most developing countries have imposed restrictions on domestic and international financial transactions at one time or another. Such restrictions have allowed governments to generate significant proportions of their revenues from financial repression while restraining inflation. The eventual...

This paper adopts an alternative approach to the study of the impact of capital inflow on the real exchange rate by foremost, analysing the effect of FDI inflow on the ratio of tradables to nontradables, and then estimating the relationship between the tradable‐nontradable ratio and the real...

India has shown spectacular growth in its external sector during the decade of ‘90s in the post liberalization period just after the massive shock of Balance of Payments Crisis in 1990-91. The Current Account Deficit (CAD) position as well as the Balance of Payments (BOP) situation has shown...