Openness to global market is the only way for a small scale national economy to survive and develop. Therefore, Republic of Macedonia immediately after the independence, declared its international trading system as fully liberal and open, articulated by membership in many important international...

Uganda has registered one of the most impressive economic turnarounds of recent decades. The amelioration of conflict and wide ranging economic reforms kick-started rapid economic growth that has now been sustained for some 20 years. But there is a strong sense in policy making circles that...

Rapid private sector credit growth in the Middle East, North Africa, and Central Asia has been a result of strong economic growth, financial deepening, and banks’ willingness to explore consumer credit markets. Economic growth, the initial ratio of private sector credit to GDP, price...

We investigate the level and volatility effects of real exchange rates on productivity growth of manufacturing firms with heterogeneous access to debt, and domestic and foreign equity markets in Turkey. We find that while volatility affects productivity growth negatively, having access to...