The Chinese state has integrated its economy into the neoliberal globalization of trade and investment without neoliberalizing its own financial markets, and to ensure stability, the state applies strict controls on interest rates, capital movement and the value of RMB. The Chinese state...

This paper intends to assess direction and effectiveness of trade policy of Nepal by studying Trade Development between India and Nepal. It follows the comparative method based on the correlation and the simple logarithmic regression model between two-policy implication period: Import Intensive...

This paper discusses Japanese motor vehicle manufacturing investment and state intervention measures in the Australian market. Australia’s auto industry is an extension of global motor vehicle manufacturers with a small number of domestic manufacturing firms that form a part of the global...

This paper provides an analysis of Japanese hybrid factories in Australia in a context of labor relations aspect of the Japanese management and production system. The paper argues that the labor relations aspect of the Japanese system is the most successful transfer to Australia. In its second...

The closed economy macro literature has shown that a liquidity trap can result from the self-fulfilling expectation that future inflation and output will be low (Benhabib et al. (2001)). This paper investigates expectations-driven liquidity traps in a two-country New Keynesian model of a...

This paper studies fluctuations of interest rates, inflation and output in a two-country New Keynesian business cycle model with a zero lower bound (ZLB) constraint for nominal interest rates. The presence of the ZLB generates multiple equilibria driven by self-fulfilling changes in domestic and...

This study analyzes and provides empirical tests of early warning indicators of banking and currency crises in emerging economies. The aim is to identify key empirical regularities in the run-up to banking and currency crises that would enable officials and private market participants to...

Both theory and the empirical evidence for a broad range of countries have identified a negative relationship between domestic and foreign saving. Still, based on the experience of the 1990s, a popular view has emerged that domestic and foreign saving are positively related in Asia and...

The recent global recession requires policy makers to identify the relative importance of shock transmission mechanisms in each region and devise counter policy measures against future idiosyncratic shocks. In the last decade, world dynamics have changed considerably due to increased openness...

A parsimonious model with home production, estimated to match moments of the “labor wedge,” explains prominent puzzles of the international business cycle. If market and home activity are substitutes, then the measured labor wedge increases whenever market consumption and employment...