This paper is a general assessment of monetary policy in major OECD countries during the 1990s. Within a simple policy framework that combines money growth, nominal income, and an open economy IS-LM type Mundell-Fleming model, the paper discusses the major strands in the conduct of monetary...

This paper takes a closer look at the dualistic nature of labor and credit markets in developing countries in so far as their functioning is relevant for labor absorption in small scale industry. The potential for absorption of excess labor from the ¡°informal¡± urban market in the small...

[eng] IMPORT SUBSTITUTION AND THE GROWTH OF EXPORTS AN ECONOMETRIC TEST. . In the traditional analysis, import substitution policies in the less developed economies are believed to be in conflict with the growth of exports. This paper argues that the presumed conflict between import substitution...