Using panel estimation for a large sample of industrial and developing countries we find significant negative effects of inflation on economic growth. The magnitude of these effects is, however, much larger for the industrial countries than for the developing countries

The Chinese inflation of 1949-1950 was fueled by large budget deficits but was ended in March 1950 before significant deficit reduction occurred. We discuss the fiscal strains that gave rise to this inflation and consider the role played by early Communist market-based anti-inflationary measures...

We seek to add a cautionary note to the growing appetite for quantitative economic history. Our lightning rod is the money demand estimation undertaken by Michael, Nobay and Peel (MNP) (1994) over the last months of Germany's hyperinflation. MNP apply to less than eighteen months of data an...

This article examines the differential between the share prices of Taiwanese securities traded on their home market of Taipei versus their trading values offshore in London and New York over the 1998 to 2009 period. In line with prior research on mainland Chinese securities, we examine how the...

This study focuses on the effects of inflation and exchange rate policy on direct investment flows to developing countries. We find that inflation does have a substantial negative effect on capital inflows. Our estimates indicate that this effect can be significantly reduced, but not eliminated,...

Economists' continuing criticisms of protectionism make a valuable contribution to the general interest element of the forces which operate to keep propensities to protect somewhat in check. McKenzie rightly warns, however, that proposals by economists for giving protection in more efficient...