Calculated under the framework of economic-profit counting, the productivity of microcredit in Bangladesh is found very low. In this survey about 48% of the borrowers had to compromise their normal wages for self-employed labor to be able to pay the high interest for the credit. Similarly its...

In this paper, we examine the stability of international macroeconomic policies of developing countries in the post-Bretton Woods period. We use the simple geometry of the classic, open-economy trilemma to construct a new, univariate measure of inter- national macroeconomic policy stability, and...

Some commentators have claimed that there is a growing Beijing Consensus among emerging and developing economies concerning the merits of ChinaÕs economic policies. Within an analytical framework provided by the well known international trilemma, this paper investigates the empirical evidence...

Despite receiving large quantities of foreign aid, Pakistan, like many other developing countries, has remained stagnant and become more aiddependent. This grim reality has provoke d a vigorous debate on the effectiveness of aid. This study examines the effectiveness of aid, focusing on the...

Despite the immense progress that has been made throughout the world in improving the quality of life through applications of technology, large proportions of the peoples of Africa still leave on less than $1.00 per day income. The seven most industrialised democracies of the world, without...

Models on innovation, for the most part, do not include a comprehensive and end-to-end view. Most innovation policy attention seems to be focused on the capacity to innovate and on input factors such as R&D investment, scientific institutions, human resources and capital. Such inputs frequently...

This paper critically reviews the debate of ‘growth and development’ since 1950 in order to place and conceptualize the term inclusive growth. The paper argues that the basic objective of inclusive growth is the smooth functioning of nation state and to avoid socio economic and political...

Dual economy, large unemployment, a fixed number of skilled workers, perfect capital mobility, migrant labor force working in South African gold mines, and a cycle of poverty characterize Lesotho. This paper develops a general equilibrium model for Lesotho specifying these absorbing economic...

The International Covenant for Economic Social and Cultural Rights, ICESCR, commits states to progressively realize the economic and social rights enumerated in the Covenant. This poses a challenge to measurement. It is not enough to assess the extent to which rights are enjoyed in a country or...

The IMF’s most recent World Economic Outlook (WEO), published last week, projects world economic growth will slow, from 4.8 percent in 2010 to 4.2 percent next year. Throughout the report, there are numerous concerns expressed about the “fragility” of the global economic recovery. The...