The neo-classical theory contends that at the steady-state golden rule level of capital, the more significant determinants of long-run economic growth are increasing labour efficiency and technological growth. Further, when the capital stock of a country is above the golden rule level capital,...

Over the past few years, external debt positions of South Asian economies have increased to alarming levels, indicating that those countries are more likely to be exposed to a debt crisis. The inflationary pressure, and weakening characteristics of regional currencies against the USD, make those...