Are devaluations contractionary? This question has been with us for a long time. The conventional Keynesian economist holds the view that if devaluation is demandexpansionary, then both output and balance-of-payments will improve with devaluation. Experience, however, shows contrary outcomes....

Two aspects of the problem of the unemployed educated persons are discussed in this essay. Firstly, the magnitude and incidence of the unemployment of such persons are examined. One point that becomes apparent from looking at the secondary data is that the bulk of the educated unemployed persons...

There is a growing debate in the emerging market on the choice of an appropriate monetary or exchange rate policy that could lead to a sustainable economic growth. Inflation targeting has become one of these policy alternatives and has recently been implemented in some of the emerging markets in...

Regional integration of the financial markets is the building-block for globalisation and internationalisation. Many regions around the world have recently been engaged in such regional economic and financial market integration to form the basis of a more complex international financial system....