It is often claimed that what is popularly known as the "flying geese paradigm" of dynamic comparative advantage has accurately depicted the East Asian catching-up process. This paper presents a critical study of the paradigm, as well as its application to the current situation in East Asia...

We show how the silver standard transmitted world silver price fluctuations into China and made the Chinese price level closely linked to the world silver price. Inflation was transmitted between 1929 and 1931 when the world silver price was falling; while deflation was transmitted during 1932...

This paper explores the links between macroeconomic developments, especially monetary policy, and the exchange rate during the period of Japan's bubble economy and subsequent stagnation. The yen experienced epic gyrations over that period, starting with its rapid ascent after the March 1985...

This study aims to explore the validity of Phillips curve for eight (8) countries from the Middle East and North Africa (MENA), namely Algeria, Egypt, Jordan, Kuwait, Malta, Morocco, Saudi Arabia, and Tunisia over the period of 1991-2019. The panel autoregressive distributed lag/pooled mean...

Due to the international crisis in the global economy the Euro zone economy is expected to grow with significantly lower rates. Moreover, inflation is accelerated internationally, due to increases in oil prices and food prices. In this paper we have attempted to investigate if the Kumara Swamy...

The importance of China's economy and the instability of China's financial system are in the spotlight recently. This paper uses Austrian Business Cycle Theory to gauge the potential risks of China's economy. The approach of this paper is a sector analysis, focusing on China's monetary and...

Japan is the most significant economy in the world today, because it exemplifies fifty years of declining economic growth for the major advanced economies. This paper provides an overview of distinct models for economic growth, inflation, interest rates, and the yield curve and applies them to...

The Bank of Japan has used unconventional monetary policies to fight deflation and stabilize the financial system since the late 1990s. While the Bank of Japan's reflation efforts have evolved over time, inflation and inflation expectations have remained stubbornly low. This paper examines the...

The new conflicts of the twenty-first century – the 'infinite wars,' the 'clashes of civilization,' the 'new crusades' – are fundamentally different from the mass wars and statist military conflicts that characterized capitalism from the nineteenth century until the end of the Cold War. The...

New estimates of pass-through coefficients for the Middle East and North Africa indicate that a rise of global food prices is transmitted to a significant degree into domestic food prices. Over the past decade, transmission from international to domestic prices has been particularly high for...