This paper analyzes the impact of fiscal and monetary policies on output in India.The econometric evidence suggests that less than 5 per cent of the variation in output is explained by fiscal and monetary policies before the crisis in 1991. However, post-crisis data reveals the growing...

In this paper, we analyze the transformation of Taiwan from an agriculture based natural-resource-abundant economy into a high-technology, advanced economy, with the help of comparative advantage in international trade theory, and the Heckscher-Ohlin model. Taiwan's trade policies shifted from...

Rosenstein-Rodan proposed that if expansionary and developmental policies have to be pursued, the small changes in fiscal and monetary policy make minor changes in economic growth. So, if a meaningful economic development is the objective carrying out Big Push is necessary for the policy makers....

The main aims of this paper include a revision of the essentials of the monetary approach to the balance of payments by constructing a monetary model, an extension of the model to explain the importation of inflation in an open economy and an application of the formulated model to the two small...