The paper documents the economic development strategies pursued by the Dominican Republic. The study argues that the country's success results from the implementation of a three-pronged economic development strategy. The first prong relates to diversifying production and the second to developing...

The volume explores how the southern engines, China, India, Brazil, and South Africa are reshaping the world economy. It looks at their development experiences, and examines how these could provide useful lessons to the developing world

The rise of China and India is rapidly reshaping the world economy, with far-reaching implications for every national and regional government, business community, and individual citizen. Arising from the UNU-WIDER research project 'Southern Engines of Global Growth', this volume explores the...

This article analyses inflation targeting's (IT) impact on key macroeconomic variables in Australia, Canada, Chile, Colombia, Israel, Korea, Mexico, New Zealand, Sweden and the United Kingdom in the spirit of Mishkin and Posen (1997). Across this sample, inflation and interest rates predicted...

This paper investigates the term structure of interest rates in a small emerging market economy - the Dominican Republic. The modelling finds a significant dynamic link amongst the day-to-day interbank interest rate and a representative banking system interest rate. But the interbank rate's...

Efficiency of the black market for foreign exchange in a developing country can be assessed by testing whether that market complies with the 'relative' version of the purchasing power parity hypothesis. This paper applies nonstationarity and cointegration to investigate this hypothesis for the...