In this article, we examine the responsiveness of Turkey's trade balance to devaluation accompanied by trade liberalisation. Our results show that the trade balance was responsive to changes in the exchange rate that were brought about by the economic reforms introduced in the 1980s, suggesting...

This essay addresses the problem of transition from a personalised exchange regime (that characterises most LDCs) to the more impersonal form of exchange that marks advanced market economies. This debate has received impetus from the discussion launched by Platteau [1994] in the pages of this...

Taiwan adopted a competitive industrial policy before South Korea but pursued it more cautiously. According to orthodox theory, Taiwan's less interventionist policy should have increased its initial per capita income lead over South Korea. In fact, the income gap narrowed, and income...

Past estimates of poverty in Bangladesh based on the food energy intake method found decreasing poverty over time and similar poverty in urban and rural areas. Using the cost of basic needs method, we find increasing poverty for 1984-92 and higher poverty in rural than urban areas. Examples of...

This article uses panel survey data for Cote d'Ivoire to investigate the determinants of welfare gains and losses of households over time. A first-difference model is estimated which takes account of initial conditions. For urban areas, it was found that human capital is not only a key...

Evidence obtained from the ICRISAT villages in India suggests that the decline of regular contracts has been accompanied by the growth in real wages and casualisation of the rural labour force. In view of this evidence, the article examines the causes of the declining incidence of regular...

The long standing controversy of the contribution of equity markets to economic development has been reactivated by the emerging markets phenomenon. Positive reassessments have emphasised diversification and liquidity gains for investors funding risky, long lived, projects. The present analysis...

Botswana and Mauritius stand virtually alone among developing countries in having achieved rates of economic development rivalling those of the East Asian NICs, while maintaining democratic institutions. We compare their experiences with the goal of identifying aspects of a democratic route to...

Whether the plight of OECD unskilled labour is due to trade or technology is examined with a general equilibrium Heckscher-Ohlin calibrated model of North and South. Technology transfer from North to South via direct foreign investment in unskilled-labour-intensive manufacturing industries is...

This article surveys the latest developments in the literature on the impact of inward foreign direct investment (FDI) on growth in developing countries. In general, FDI is thought of as a composite bundle of capital stocks, know-how, and technology, and hence its impact on growth is expected to...