The previous paper presented the analysis of binding constraints on growth [22]. In this paper we extend diagnostics to problems of longrun growth slowdown and Middle Income 6rowth Trap (MI6T). Countries caught in the MI6T are unable to compete with low-income, lowwage economies in manufactured...

After three decades of expulsion, the industrial policy (IP) is again a part of legitimate policy agenda in developed and emerging economies alike. The theoretical case for IP interventions remains valid in the presence of continued market failures enhanced by growing share of international...

The main purpose of the paper is to discuss an apparent erosion of competitiveness of the Serbian economy in the aftermath of the global crisis and to propose a set of policy interventions that would restore the precrisis level of competitiveness, as well as support the resumption of...

The Asian financial crisis had a profound impact on the global economy. Growth is expected to be slower; risks are higher; and the international flows of capital have been dislocated. Above all, it has set out forces of new conditionality surrounding the developmental state, constraining its...

After examining the critical role of the two five year plans (1962-67, focusing on infrastructure development and import substitution; 1967-72, emphasising export oriented industrialisation) in the rapid economic progress of (S) Korea, this paper discusses how mismanaged financial liberalisation...

Computable General Equilibrium models represent a state-of-the-art multisectoral tool for policy analysis in mixed economies. Simulations of the model provide insight into the quantitative structural effects of economic policies, taking into account interactions throughout the economy in a...