The aim of this paper is to investigate the question of whether financial development leads to economic growth in a small, developing country like Tunisia. The paper focuses on the causal link between finance and economic growth in order to discriminate between several alternative theoretical...

The People's Republic of China introduced indexed government bonds in the face of the inflation panic of 1988-89 and reintroduced them when inflation surged upward again in 1993. Measures of inflation expectations - as derived from the trading prices of these indexed bonds - suggest that the...

In their policy proposals on how best to stimulate economic growth, economists have been increasingly emphasizing free markets. It is, however, possible that free-market-led economic growth can result in increased income inequity which can further increase poverty. One of the more interesting...

Analyses of Colombian data have generally failed to confirm the hypothesis of export-led growth. This paper generates several measures of export diversification and structural change in exports, and argues that these measures are useful in assessing growth externalities generated by the export...