Showing 1 - 10 of 4,456
South Africa’s macroeconomic framework has served the economy well, but should be strengthened to make the economy more …
Persistent link: https://www.econbiz.de/10008854030
This paper develops an endogenous growth model in which the government finances its public investment using both income taxation and seigniorage. Arguments presented in this paper show that public investment financed by seigniorage gradually pulls up the growth rate of consumption and overshoots...
Persistent link: https://www.econbiz.de/10005823480
Purpose – The purpose of this paper is to develop a political-economy model to show how political imperatives lead to …
Persistent link: https://www.econbiz.de/10009140893
made an impact on the economy's development. …
Persistent link: https://www.econbiz.de/10008755433
economy that cannot be governed with the combination of macroeconomic policy instruments that modern national governments have …. Its exceptionally independent central bank, the ECB, sets monetary policy for the eurozone economy as a whole, but it has … lacks democratic legitimacy as well as the capacity to govern the eurozone economy effectively. …
Persistent link: https://www.econbiz.de/10010669620
caution not to worsen inflationary trend in the economy. A less volatile interest rate regime would increase reliability and … confidence of investors in the economy. It is also relevant for monetary authorities and other players in the economy to … encourage economy-wide international trade competitiveness so as to maintain positive growth in exchange rate of the naira which …
Persistent link: https://www.econbiz.de/10010944903
This paper examines Chairman Greenspan's recent claim that central bankers around the world have been operating 'as if' monetary policy were constrained by gold that backs up reserves. The paper argues, instead, that central banks in flexible exchange rate regimes operate with an overnight...
Persistent link: https://www.econbiz.de/10005482711
reflect fully the importance of the hydrocarbon sector in the Russian economy. The paper further argues that prudent …
Persistent link: https://www.econbiz.de/10005049019
resource-based economy. It investigates briefly the main drivers of Russian growth in recent years, and makes specific … recommendations that would help the Russian economy to sustain high growth.<P>Comment soutenir la croissance dans une économie fondée …
Persistent link: https://www.econbiz.de/10005045957
Foreign direct investment (FDI) may benefit local firms in the host country through various kinds of spillovers, but it may also raise competition and result in the crowding out of domestic firms. Using detailed firm-level data for the period 2001–2008, this paper examines the aggregate effect...
Persistent link: https://www.econbiz.de/10011009745