This paper approaches the question of potential causality between foreign debt and domestic savings in the context of developing countries. Literature provides evidence in as far as foreign debt and development is concerned, but little attention was given so far to internal potential for capital...

Total factor productivity plays an important role in the growth of the economy. Using recently available state level data over 1993 and 2005, we find widespread regional variation in productivity changes. In the beginning of the liberalization era, improvement in technical efficiency contributes...

We examine the effects of the ‘natural resource curse’ on Chad and find little evidence for Dutch disease. Structural vector auto-regression suggests that changes in domestic output and prices are overwhelmingly determined by aggregate demand and supply shocks, and while oil production and...

Why does low central bank independence generate high macroeconomic instability? A government may periodically appoint a subservient central bank chairman to exploit the inflation-output trade-off, which may generate instability. In a New Keynesian framework, time-varying monetary policy is...

Goods and service tax (GST) introduced as a ‘good and simple tax’ on 1 July 2017 by the Modi government is the boldest measure of tax reform so far in India. The major aim of this paper is to evaluate the micro and macro impacts of the goods and services taxes (GST) using a dynamic...

This paper depicts the agricultural policy reforms and structural changes in Bangladesh from independence to the present times. Bangladesh agriculture has experienced major structural changes and achieved major successes over the last three and a half decades. Reforms began in the late 1970s and...

The book presents a FOI model analysis of the OECD countries, and highlights some of their possible development paths.

The COVID-19 pandemic has caused the most universal health and socio-economic crisis in recent history. However, the magnitude of the economic damage has differed widely; some countries were hit particularly hard, while others have managed to weather the storm much better. In this paper, we...

Has macroeconomic management succeeded in making privatization promote growth in Africa? What are the probable strategies that should accompany the privatization reform process to promote growth in Africa? To what extent has the privatization process succeeded in attracting foreign direct...

The COVID-19 pandemic has caused the most universal health and socio-economic crisis in recent history. However, the magnitude of the economic damage has differed widely; some countries were hit particularly hard, while others have managed to weather the storm much better. In this paper, we...