Originally propounded by the 16th-century scholars of the University of Salamanca, the concept of purchasing power parity (PPP) was revived in the interwar period in the context of the debate concerning the appropriate level at which to re-establish international exchange rate parities. Broadly...

Asian development in the 1970's is likely to take place under conditions quite different from those typical of the past two decades. These changing conditions will have an important influence on the research focus relating to growth and development. This paper ex- amines two such changes. First,...