We examine how the source of foreign aid affects the composition of the recipient government's spending. Does the source of aid - bilateral or miltilateral - influence ricipient policy-makers' choice between development and nondevelopment expenditure? We depart from previous literature by...

The record economic growth of PRC since the 1990s has been accompanied by an increase in both income inequalities and polarization. We employ Relative Distribution tools (Handcock and Morris, 1998) on different datasets in order to provide a detailed analysis of Chinese income distribution...

This chapter offers a historical and analytical introduction to the school of thought that views 'development as freedom'. Since it is impossible to do justice to the depth and complexity of this 'new' approach to development in just one short chapter, I explore a few significant dimensions of...

In the fast developing digital technological revolution connectedness has emerged as a major characteristic of both firms and markets. For multinational firms in high technology area in general this raises some interesting and fundamental theoretical questions. How is connectedness to be...

This study draws upon a firm level database from Taiwan to study the foreign direct investment (FDI) behavior of firms. An econometric model based on economic theories of the MNC behavior is used for carrying out the empirical analysis. The performance of Taiwanese firms with FDI in Mainland...

This paper develops a model of a trading system by using neuro fuzzy framework in order to better predict the stock index. Thirty well-known stock indexes are analyzed with the help of the model developed here. The empirical results show strong evidence of nonlinearity in the stock index by...

The purpose of this paper is to look at a recent technology of information transmission in the fiber optics area. The technology in question is known as WDM or wavelength division multiplexing. The engineering aspects known to us and discussed in the next section already indicate tremendous...

In this chapter I introduce the basic problems for a new theory of 21st century financial crises in light of the Asian and other subsequent crises. Do these crises all have somethimg in common, or are they idiosyncratic events? My contention is that there are deep structural causes at work in...

The word globalization, as commonly used, is largely a descriptive and not an analytical category. This paper attempts to give the term analytic content. It then focuses on both the positive and normative analysis of globalization. Trade, environment, finance and gender issues receive special...

In this paper,following an evolutionary theory of international financial institutions-- called "the extended panda's thumb" approach-- the role of IMF under the present globalization moves is analyzed. It is shown that IMF must change in a direction which allows for greater national policy...