Purpose – In the past two decades, there has been a remarkable decline in inflation in both developed and developing countries, in sharp contrast to the period immediately preceding it. Interestingly, the behaviour of inflation in India broadly exhibits such a pattern. For much of the 1970s...

Purpose – The purpose of this paper is to describe the transformation of macro-modelling from reduced form behavioural equations estimated separately, through to contemporary microfounded dynamic stochastic general equilibrium (DSGE) models estimated by systems methods. It is argued that...

Purpose – This article aims to provide an exposition of evolutionary game theory which can be used for pedagogical purposes. Design/methodology/approach – The exposition is presented as a mathematical model in order to cover the formal underpinnings of evolutionary game theory. The paper...

Purpose – The purpose of this paper is to examine patterns and determinants of trade among developing countries (South-South trade), with emphasis on the role of production sharing in global economic integration of the Southern economies. Design/methodology/approach – The paper begins with...