This paper presents a general theoretical framework for understanding the Belt-and-Road Initiative (BRI). We begin with an introduction to the connotations of the BRI and a review of the initiative's main achievements since its inception. From these achievements, we identify the existence of a...

This study questions the importance of public debt in stable growth between 1980 and 2018, specifically, the Ricardian equivalence hypothesis and Keynesian view are questioned. This study used data obtained from the Northern Cyprus State Planning Office. A restricted vector autoregressive model...

We investigate whether increasing the education quality causes increases in economic growth allowing poorer countries to catch up. To this end, we extend Nelson-Phelps's classic paper by introducing differences in education quality (proxied by students' performance on the Program for...

Die Spannungen in der Weltwirtschaft und die Sorge um eine zu starke wirtschaftliche Abhängigkeit Europas von China rücken Indien in den Blickpunkt. Dort leben knapp 18 % der Weltbevölkerung in einer demokratischen Staatsform. Allerdings beträgt die Größe des Marktes bestenfalls ein...

The COVID-19 pandemic, as with previous major crises, such as the 2008 financial crisis, has had a severe negative impact on international trade flows. The present paper aims to contribute to the debate concerning how to foster resilience against future crises, in terms of countries' aggregate...

The association of local and regional self-government is examined in regard to the decentralization of state administration. This study extrapolated data from 36 Organisation for Economic Cooperation and Development (OECD) countries and analyzed whether decentralization of the state assists in...

Investment disparity in the education of persons with disabilities may be larger on the part of parents, in part resulting from predicted lower returns to the investment due to mistaken beliefs about their capabilities, or actual lower returns due to barriers in the labor market. Using a...

Taxes have extraordinary roles in any country's economic development and policymaking. This study extends prior studies by investigating the impact of direct and indirect taxes on the economic development of 47 developed and 90 developing countries. All data about the variables involved in the...

We examine the factors behind Afghanistan's persistent underdevelopment. Drawing on various theories of development traps operating at the demographic, economic and institutional levels, we seek to assess whether and to what extent their functioning affects Afghanistan's development. To capture...

Arab oil exporting countries have been advised by the IMF to diversify their economies away from oil and that the way to do that is to adopt the ten principles of the Washington Consensus, which call for liberalization, deregulation and privatization. It is not clear how measures like these are...