This paper employs country specific multisectoral general equilibrium models of Turkey, Kenya and India to study the adjustment problems confronting these countries. The affects of liberal and interventionist policies on GDP and on incomes of different classes are analysed. The results show that...

During the last two and half decades Turkey has suffered from three foreign exchange crisis resulting in considerable loss of income. The paper argues that the country in order to avoid the foreign exchange crisis has to stay away from having too big current account deficits. Noting that under...

The purpose of the paper is to study the European Union - Turkey customs union (CU) of 1995 covering trade in industrial goods. The customs union decision of 1995 extending to rules and disciplines on various regulatory border and behind-the-border policies covers in particular customs reform,...

Der Kausalzusammenhang zwischen inländischem Kredit und internationalen Reserven: die Erfahrungen von Entwicklungsländern Drei Kausalitätstests und zwar die von Haugh, Granger und Sims werden herangezogen, um die Art der kausalen Beziehungen zwischen den Komponenten der Geldbasis für Indien,...

This paper presents estimates of India's unofficial economy on a yearly basis for the period 1967 to 1978. These estimates implicitly revise the GNP, per capita and other related statistics for this period. The technique employed has been recently used to determine the size of the unreported...

Three causality tests, Haugh, Granger and Sims are used to determine the nature of causal relationship between the components of monetary base of India, Malaysia, Mexico and Taiwan. The conclusion derived is that bidirectional causality exists between the changes in domestic credit and changes...

The role of the futures markets in stabilising spot prices has been widely discussed. However, the success of these markets in performing the stabilising function critically depends on whether they are efficient (Fama 181, page 383) in the sense that the futures prices fully reflect the...

Computable general equilibrium models are used to study the short-run impact of fluctuating primary commodity prices on the economies of Colombia, Ivory Coast and Kenya. The results indicate that these economies are destabilized by primary commodity price fluctuations unless governments act to...

The large OPEC-engineered real world oil price increases of the early and late 1970's have set in train, via a highly integrated international trade and finance system, significant resource transfers from energy-poor to energy-rich countries. In accommodating these resource transfers both energy...