The study addresses the economic development of four European countries - Romania, Hungary, Czech Republic, and Poland beginning with 1990. It will be employed a descriptive analysis of their trade and growth dynamics. Emphasis will be placed on the determinants of economic growth of this group...

More than 170 years ago, Frédéric Bastiat noted in his masterly work Economic Sophisms that the “opposition to free trade rests upon errors, or, if you prefer, upon half-truths.”1 Ever since Adam Smith successfully replaced mercantilist orthodoxy with free trade doctrine in his celebrated...

Over the past two decades, globalisation has given a boost to world trade, has grown one and a half times faster than world output, and the difference has even been considerably higher in recent years as world trade growth accelerated very strongly. More

This paper looks at the importance of the terms of trade for the New Zealand economy by examining the impact of changes in the trend and volatility of the terms of trade on economic growth. It is found that the volatility in the terms of trade has had a negative impact on New Zealand’s...

The CEMAC’s countries are characterized by a weak diversification of their products and exports. Their economic performances are thus dependent of the activities of vulnerable sectors, and in general of the production of one or some raw materials. In fact, in spite of the growth of the weight...

This paper examines how macroeconomic policies can be managed to accommodate a large inflow of foreign aid to combat the HIV/AIDS epidemic and still maintain macroeconomic stability. Because of the daunting scale of this epidemic, funds need to be disbursed urgently in order to contain its...

As per the balance of payments constraint hypothesis, in an open economy, achieving a high long-run rate of growth would require a country to reduce its balance of payments constraint through an improved export performance, and the production of import substitutes, which would lower the income...

As per the balance of payments constraint hypothesis, in an open economy, achieving a high long-run rate of growth would require a country to reduce its balance of payments constraint through an improved export performance, and the production of import substitutes, which would lower the income...

Many sub-Saharan African (SSA) countries liberalized their economies in the 1980s and early 1990s. This paper reviews the foreign exchange regime reforms in selected SSA, and their associated macroeconomic policies and economic performance during and after these reforms were undertaken. Before...

This paper theoretically analyzes the growth and welfare impacts of dynamic Border Carbon Taxes (BCT) across trading countries. I build a trade model with dynamic investment decisions using a Ramsey growth model. The government in each country can invest either in costly nonpolluting capital or...