The paper examines the impact of terms of trade shocks on private savings in the transition economies after accounting for the effect of other determinants. Economic agents in the transition economies are subject to tight credit constraints which are more pronounced during bad state of nature....

This study deals with the issue of independent monetary policy and the stability of the domestic money demand function in the presence of currency substitution and capital mobility in five Asian economies. It is argued that money demand will be less stable and more difficult to control in the...

This paper uses recently developed econometric techniques to investigate the demand for money in Thailand. Initial estimates show the absence of any long-term, unique relationship among a monetary aggregate (M1 or M2), an income and a price variable. However, the introduction of an exchange rate...

The use of margin requirements as a potential policy tool for controlling sudden stock price changes and market volatility has attracted considerable attention in the developed stock markets. However, no consensus has emerged regarding the significance of the impact of changes in margin...

This paper investigates the relationship between money, prices, output, and the exchange rate in Bangladesh during the 1974?92 period. Several interesting conclusions can be derived from the paper. First, the inflationary process in Bangladesh cannot be explained exclusively by the monetarist or...

Proposals are evaluated, from both an economic and an ethical viewpoint, for development funding through a global lottery, along with a complement to this: a global premium bond (a loan instrument in which the interest takes the form of a lottery prize, the capital being repayable on request, so...

What caused the mid-2000s world commodity price ?bubble? and the recent commodity price growth during the economic recovery after the 2007-2009 recession? The classical ?supply and demand? interpretation offered by some observers suggests that rapid global industrial growth over the past decade...

Conflict between Pakistan and India can be best understood in a multivariate framework where variables such as economic performance, multilateral trade with the rest of the world, bilateral trade, military expenditure, democracy scores and population are simultaneously taken into account. Our...

The purpose of this paper is to compare the role of human capital accumulation measured by number of years of schooling with the relative contribution of institutional capacity to prosperity. We employ several concepts of institutional quality prevalent in the literature. We discover that...

The aim of this paper is to examine the impact of increased trade on wage inequality in developing countries, and whether a higher human capital stock moderates this effect. We look at the skilled-unskilled wage differential. When better educated societies open up their economies, increased...