This paper analyzes the impact of financial openness on the size of the government in a stochastically growing small open economy when public spending is productive and volatility-reducing using a portfolio approach. The main result of the model is that economies that are more open are...

This work presents the evolutionary growth theory, which studies the drivers and patterns of technological change and production together with the (imperfect) mechanisms of coordination among a multitude of firms. This requires to studies economies as complex evolving systems, i.e. as ecologies...

This paper analyzes the effects of the high economic openness of West African economies coupled with liability dollarization, on their economic activities. By using a dynamic stochastic general equilibrium model in a small open economy framework, and performing an experiment based on a case of...

This study purposed to determine the long run relationship between trade openness and economic growth in Ghana and Nigeria covering the period between 1980 and 2016. It incorporated investment, exchange rates and inflation as the additional variables. To test for stationarity of the data, the...

A model that merges the monetary approach to the balance of payments and a neoclassical growth model into a unified framework in which inflation, growth, and the balance of payments are simultaneously determined and estimated. The tradeoff between the simplifying assumtions of the model and its...

This paper studies output declines during currency crises based on the theoretical model by Nakatani (2016, 2017a), highlighting the role of shocks that trigger crises. Using panel data on 49 developing countries, we find that both productivity shocks in the real sector and shocks to the...

This study uses panel data covering the period from 1984 to 2014, panel cointegration as well as Dynamic Ordinary Least Square method to investigate the effect of trade openness on manufacturing growth in Economic and Monetary Community of Central Africa (EMCCA) countries. The results reveal two...

In this paper we examine the performance of the Irish economy over the period 2008 to 2014. In particular we examine whether the recovery observed was due to the successful adoption of structural reforms in labour and product markets or whether the improved performance was due to a rebalancing...

There is an important debate about how economies with different exchange rate regimes performed during the Great Recession and its ensuing recovery. While economic theory suggests that economies with fixed exchange rates are more affected and recover more slowly from global shocks than economies...

In this article, a comparative analysis has been done on the possibility of a correlation between economic growth and exchange rates. To represent the factor of growth GDP, inflation, growth has been examined in different cases. In the same way for exchange rates, nominal exchange rate, real...