Global structural factors both monetary and real played a prominent role in the burst of the subprime crisis: 1) the so-called Bretton Woods II international monetary system; 2) the reduction of US real investment return compared with competing countries. We develop a two-country partial...

Global structural factors both monetary and real played a prominent role in the burst of subprime crisis: 1) the Bretton Woods II international monetary system; 2) the reduction of US real investment return compared with competing countries. We develop a theoretical model to analyze the impact...

This paper explores the saving-investment behaviour in Pakistan by identifying their patterns over time and across selected Asian countries. Further potential determinants were empirically tested, based on theoretical foundations of modelling for saving and investment behaviour. Savings in...

This paper examines domestic and external financial constraints on development in the Maghreb region and proposes policy recommendations to alleviate them. In contrast to the IMF-monterrey consensus view on finance for development, it is argued that financial liberalization and the privatization...

Global structural factors both monetary and real played a prominent role in the burst of the subprime crisis: 1) the so-called Bretton Woods II international monetary system; 2) the reduction of US real investment return compared with competing countries. We develop a two-country partial...

The paper refers to the well-known Tsukui turnpike theorem on convergence of optimal growth trajectories in the closed dynamic Leontief model to the maximum balanced growth trajectory, called turnpike. In the original proof of this theorem, the assumption that the matrix B of capital...

This paper is concerned with a comparison of the treatment of fixed capital in some multi-sectoral models. First, the dynamic Leontief model is investigated. Scrutiny shows that this model suffers from conceptual misconceptions which result from restrictive assumptions concerning full-capacity...

This paper is concerned with the treatment of fixed capital in multisectoral models. Five approaches and concepts developed and used by Sraffa and von Neumann, by Hicks, by Georgescu-Roegen, by Walras and by Leontief are compared. These five approaches fall into two broad categories: models with...