The impact of trade reforms on economic performance in ten Latin American countries is examined using a panel data set of 17 annual observations. Each country is classified as "reformed" or "unreformed" in a given year, and the model tests whether reform improves performance across various...

The impact of aid inflows on relative prices and output is ambiguous. Aid inflows that increase domestic expenditure are likely to cause real exchange rate appreciation, ceteris paribus. However, if this expenditure raises the capital stock in the traded goods sector, then output in this sector...

In this article the authors estimate a time-series model of excess liquidity in the Egyptian banking sector. While financial liberalisation and financial stability are found to have reduced excess liquidity, these effects have been offset by an increase in the number of violent political...