The paper evaluates the economic partnership agreement (EPA) which the European Union is forging with African, Caribbean and Pacific (ACP) countries and concludes that it is a raw deal for these developing countries. Particularly for Africa, the author likens the EPA to the Berlin conference of...

The countries of Sub-Saharan Africa are disproportionately among those receiving the most foreign aid per capita in the world. In this paper we assess the intensity of aid flows to African countries, defined as the size of these flows relative to the categories of economic activity they are...

This paper studies the shift in the role of monetary policy in Latin America during the 1990s. As in most industrial economies, in Latin America there has been a refocusing of the objectives pursued by monetary policy towards the achievement of price stab

The recent evolution of the Chilean economy has been conditioned in great part by events that took place in the last five years. This paper reviews these development concentrating in the period 1979-1981. In June 1979, the peso was pegged to the U.S. doll

In this paper we develop a simple general equilibrium model of the current account net of factor services. The model takes explicitly into account the relation between the real exchange rate, the trade balance, output and expenditures. The model is estima

The model that we present in this paper is an attempt to describe the short run equilibrium of a small open economy. The model is an aggregate one with one output and the two assets (money and physical capital). The model is a mix of a monetary and a Keyn