The paper reviews the history and progress of understanding of development theory over the past 50 years. Development thinking has evolved from an early paradigm that focused on savings and capital investment to subsequent arguments favoring the inclusion of human capital, policy, technical...

We investigate inflation persistence in six inflation targeting (IT) countries from the global-economy perspective. This view maintains that inflation persistence in IT countries has declined mainly because of the decline of inflation persistence in the global economy. We provide empirical...