There has been much discussion of the Newly Industrializing Countries (NICs) in recent years and various studies of their impact have been made. Much of the concern about NICs in the industrialized countries is however based on what they portend for the future rather than their present impact....

Economists find it difficult to reach agreement about the effects on economic growth of depreciation of the money value. One reason is that they define certain terms in different ways, another one is that many other factors as well as inflation have an impact on economic growth. They may...

The island's rapid industrialisation over the past decade and its development as the main trade and financial centre of South-East Asia, supported by a phenomenal growth in tourism, constitute yet another Asian economic miracle.

The question as to which economic sectors can play a leading role in a development process has given rise to two schools of thought. The author presents a survey of the “balanced” and “unbalanced” growth theories paying special regard to their practical applicability in the framework of...