The different target of the time period has been established over the past two decades in the institutionalization of a single currency union in West Africa. Depending on varied reasons the proposed programs have always failed before the set timelines in respect of ECOWAS monetary unification...

This study assesses the macroeconomic impacts of increasing competition in the non-tradable goods and labour markets in Portugal. We lean on evidence that the maintenance of low competition in these markets may have contributed to the recent poor performance of the Portuguese economy. The...

Assessing the impact of a policy before implementation has often been a difficult feat to achieve, both at the macroeconomic and microeconomic levels. This challenge becomes even more daunting in the context of a developing country and has encouraged enormous amount of research over an extended...

In January 2007, U.K. Government debt to GDP stood at 32.5%. By December 2019 it had grown to 89.5% and the latest data from September 2020 show a government debt level of just over £2 trillion, while its debt to GDP level did increase to 103.5%. The Quantitative Easing program by the Bank of...

Most Western economists and policy makers agree that the Yuan is significantly undervalued and push the Chinese government for a large nominal revaluation of the Yuan. This paper, while surveying recent research on Chinese exchange rate policy, gives some new insights into this issue. Notably,...

Micro, small and medium sized enterprises (M/SMEs) are a dynamic force for sustained economic growth and job creation. They are a valid, crucial component of a vibrant industrial society.M/SMEs stimulate private ownership and entrepreneurial skills; they are flexible and can adapt quickly to...

Most developing and underdeveloped countries beside Sudan suffer from the low levels of income in addition to the low savings that are result from the lack of sophisticated savings channels. Hence, the investment depends on the individual's abilities on self savings, where the investment is...

This article describes the argumentative structure of Hayek on the relationship between power to tax and redistribution. It is observed throughout its work giving special attention to two works: The Constitution of Liberty (1959) and Law, Legislation and Liberty, vol3; The Political Order of Free...

We construct a model of endogenous investment specific techological change in which the stock of public capital influences the real price of capital goods. We show that the growth and welfare maximizing tax rates coincide in the planned economy. When factor income taxes finance public investment...

This paper responds to the development policy debate involving the World Bank and the IMF on the use of fiscal policy not only for economic stabilization but also to promote economic growth and increase per capita income. A key issue in this debate relates to the effect of the composition of...