The traditional policy regimes need to be re-examined in the wake of the fast-emerging globalised world economy. This is particularly true in the case of developing economies and more so when it comes to monetary policy. This is because of the growing link between domestic money and financial...

Disparities between social groups transcend the boundary of current generation and perpetuate across future generations as well. This is manifested as low intergenerational mobility in terms of both education and occupation in developing countries in general, and among specific ethnic groups...

By bridging the gap between domestic savings and investment and bringing the latest technology and management know-how from developed countries, foreign direct investment (FDI) can play an important role in achieving rapid economic growth in developing countries. Developing countries have not...

The capability of monetary aggregates to generate stable links with fundamental economic indicators verifies the effectiveness of monetary targeting. However, traditional monetary aggregates become flawed when financial reforms take place. As official monetary aggregates fail to maintain stable...