Adjustment assistance is provided to local investors responding to policy reform and facing adjustment costs, to facilitate their activity–a signal to foreign investors about the profitability of investing in the local economy. The government, in providing assistance, maximizes its utility...

This paper focuses on the emergence of the economic agency role of government and its relationship with cooperation and economic management. It distinguishes emergence under war, domination or capitulation, perfect cooperation, and strategic bargaining. Good governance is a consequence of...

Active cross-border (illegal) trade in many African countries has meant that producers of exports, and importers as well, direct their activities in accord with marketing-board prices, foreign trade taxes, and the convertibility of currencies. This paper demonstrates how these factors interact...

The hypothesis that inflation, up to a point, can be beneficial to growth in developing countries is traditionally discussed in the context of structuralism and inflationary financing of government investment (inflation tax) and of private investment. In structuralism, the argument is that...

Changes in the exchange rate can be used (a) as an instrument of monetary adjustment where there is an excess supply of money; (b) as a device to tax (subsidize) asset accumulation in the public sector; (c) as an instrument to impose a once and for all wealth tax on some producers in the private...