Despite of the fact that poverty is one of the major issues concerning policy makers, it has received less attention with respect to its linkages with services sector growth. In this research study, an attempt was made to quantitatively explore the nexus between growth in services sector of...

Africa experienced a wave of democratization over the past 20 years and this increase in democracy, we find, positively and significantly affects income per capita. Our dynamic panel data results suggest that countries only slowly converge to their long-run income values as predicted by current...

This study set out to investigate whether it is possible to simultaneously achieve internal and external economic stability objectives and to examine the impact of economic stability on economic growth. A model of simultaneous relation was formulated and identified. Data covering 1970 –...

There is disagreement about whether large and complex financial institutions should be allowed to use US bankruptcy law to reorganise when they get into financial difficulty. We look at the events surrounding the Lehman Brothers bankruptcy filing for lessons as to whether bankruptcy law could be...

This article offers an analytic overview of India's achievements to date, what its future prospects are, what its rise means to the global economy in the next fifteen years and what challenges India faces in terms of future reforms. The article begins by presenting a summary of the country's...

Walter Bagehot's putative principles of lending in liquidity crises—to lend freely to solvent banks with good collateral but at penalty rates—have served as a theoretical basis for thinking about the lender of last resort for close to 100 years, while simultaneously providing...

This paper discusses social protection initiatives in the context of developing countries and explores the opportunities they present for promoting a gender-equality agenda and women's empowerment. The paper begins with a brief introduction on the emergence of social protection (SP) and how it...

This paper seeks to analyse the relationship between functional distribution of income, aggregate demand and growth in Chinese reform economy. For this purpose the Bhaduri-Marglin Model is used, stating the theoretical possibility of both profit-led and wage-led growth regimes. Subsequently, the...

Since the turn of the century, China’s state and society have focused their efforts on "constructing a harmonious society". Viewed from the perspective of globalization, these efforts represent a quest for a model of development that deviates fundamentally from neo-liberalism. In...

For many years, the World Bank has reported estimates of the degree of sustainability of the world’s economies using a measure of adjusted net savings. We construct long-run sustainability indicators for Germany over the period 1850-2000 to test the relationship between these net savings-based...