Development strategies based on centralised public investment and profit motivated private sector leadership, without suitable modifications to address poverty issues, have shown limited success in poverty reduction in many developing countries. It is in this background that participatory...

The maintenance of price stability is regarded as a key economic policy goal, as inflation is costly and hinders economic growth. There is a vast literature on the relationship between inflation and growth across time, regions, and inflation ranges. The conventional neoclassical view postulates...