This paper examines Karl Niebyl’s critique of monetary theory against the typology of equilibrium, reflective and critical theories of money. It argues that despite fundamental criticisms of monetary theory, his analysis of money in capitalist development is essentially a reflective one....

During the world food crisis of 2007-08, the price of staples soared rapidly. Higher food price impacts poor households more as they spend approximately three quarters of their income on food. Together rice and wheat provide more than 50% of the calorific intake in India. Apart from providing...

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...

This paper analyzes Korea’s exchange rate dynamics before and during the crisis of 1997-98 by estimating the long-run fundamental exchange rate and the associated error correction model. The analysis suggests that although Korea’s exchange rate was substantially overvalued before...

The objective of this paper is to assess the role of FDI in China’s economic development with reference to the broader literature on FDI and late development. Three main findings come out from the analyses in the paper. First, it is found that FDI tends to promote the improvement in...

This paper examines the relationship between firm-level technological development and enterprise performance in the Mozambican manufacturing sector. It does this on the basis of primary data collected for two industries–metalworking and light chemicals–and the triangulation of...

This paper represents a theoretical contribution to the analysis of international capital flows. It outlines an alternative theoretical framework based on Post-Keynesian monetary theory, and in particular on Hyman Minsky’s Wall Street paradigm and concept of Money-manager capitalism and...

We analyse the rate and determinants of adoption of modern rice varieties (NERICAs) in Guinea, The Gambia and Cote d'Ivoire. The role of knowledge and information is evaluated using programme evaluation methods. Using household data collected by the Africa Rice Centre we show that the exposure...

This paper assesses the attempt by Justin Lin, former Chief Economist of the World Bank, to posit a new development paradigm through his New Structural Economics, NSE. Lin’s attempt to redefine development economics deserves scrutiny for at least two reasons. He launched his new framework...

Assumptions applied in Orthodox Economic methods are criticised for being an inadequate depiction of reality. This is particularly the case from the perspective of Feminist Economics. Gender biases are reflected in the quantitative data sources and methods commonly applied for economic research....