The negotiations on a deep and comprehensive free trade area between Tunisia and the European Union (EU) - also known by its French acronym "Projet d'accord de libre-échange complet et approfondi" (ALECA) - have been ongoing since 2015. Beyond the bilateral reduction of tariffs and quotas, the...

This paper puts forth a Neo-Kaleckian open economy model of two countries in order to investigate adjustment of US--China external imbalances. First, a stylized fixed mark-up model is presented, and discussed based on graphical analysis. Second, we present estimates of bilateral income and price...

This paper presents a model of a developing economy with three sectors---a modern sector producing manufactures and services, a traditional sector producing agricultural goods, and a third sector providing energy. Modern and energy sector are assumed to be demand--constrained; the agricultural...

This paper explores macroeconomic policies that can sustain structural change in China and India. A two--sector open--economy model with endogenous productivity growth, demand driven output and income distribution as an important determinant of economic activity is calibrated to a 2000 SAM for...

This paper critically reviews the impact of globalization on Sub-Saharan Africa (SSA) since the early 1980s. The large gains expected from opening up to international economic forces have, to date, been limited, and there have been significant adverse consequences. FDI in SSA has been largely...

This paper critically reviews the impact of globalization on sub-Saharan Africa (SSA) since the early 1980s. The large gains expected from opening up to international economic forces have, to date, been limited, and there have been significant adverse consequences. Foreign direct investment in...