Purpose – The purpose of this paper is to shed some light on the role of macroeconomic policy‐mix in achieving the Millennium Development Goals (MDGs), especially the goal of poverty reduction. Design/methodology/approach – The paper employs descriptive approach and provides an analytical...

Undertakes an epistemological formulation of ethico‐economics. This formulation challenges the neo‐classical and macroeconomic foundations of mainstream economics and then presents the rigorously analytical depths of ethico‐economics. Traces the developments, the praxis of the rational...

Combines theory with practice, based on experiences rather than philosophical speculation. The question posed is whether technological innovation must be regarded as an exogenous or endogenous variable in economic models. Neoclassical economics, even in such modified versions as developed by...

Examines empirically the proposition that a large public enterprise sector for an economy acts as an obstacle to a healthy rate of economic growth. The empirical analysis concentrates on the experience of the OECD countries for the years 1965‐85. Single and multiple equation‐models of...

The depreciation of environmental capital is internalized within a simple Keynesian framework to permit the determination of sustainable income. The framework is empirically applied to the US economy by integrating standard macroeconomic data with macro‐environmental data which were derived by...

Introduces incentive strategy as a market‐oriented and highly efficient macro‐economy management system (MEMS). By means of the hierarchical decision‐making theory and the stochastic optimization theory, two static models with perfect information structure and partial information structure...

Notes that macro‐economic policy faces the same challenges in both developing and post‐socialist economies: to reduce inflation while achieving or maintaining stable economic growth. Moreover, there are developing countries like Argentina which succeeded in overcoming a type of institutional...

This study reviews the emergence of Thailand in the 1990s as the Fifth Tiger economy of Asia following the regime switch from an import substitution to export oriented industrialisation policy. A Computable General Equilibrium (CGE) model was formulated to analyse the macroeconomic and sectoral...

The economic science is again in a crisis and a new solution prolegomena to any future study in economics, finance and other social sciences has just been published by the International Institute of Social Economics in care of the MCB University Press in England. The roots of the major financial...

The article attempts to locate the lack of macroeconomic stability and hence the problem of low economic growth in developing economies in the absence of appropriate institutions. Paradoxically, government can fail in both authoritarian and democratic systems and accentuate market failures which...