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As an innovator in the financial system, China was the first to use paper currency. Eventually the form of currency was held responsible for devastating inflation and was abandoned during the Ming Dynasty. Going forward in time, uprisings and discontent have emphasized the importance of...
Persistent link: https://www.econbiz.de/10009323474
In October 2008 the main Hungarian public finance actors: the government, the National Bank of Hungary (MNB) and experts cited the high public debt and volume of unsecured foreign-currency loans as the main reasons for the economy’s vulnerability. On the other hand according to the formal...
Persistent link: https://www.econbiz.de/10011258999
The Lucas critique has exposed the problem of the trade-off between changes in monetary policy and structural breaks in economic time series. The search for and characterisation of such breaks has been a major econometric task ever since. We have developed an integral technique similar to CUSUM...
Persistent link: https://www.econbiz.de/10008927057
economic policy theory which co-created the conditions for world economic growth and stabilization in recent decades. The third …
Persistent link: https://www.econbiz.de/10009322890
Can foreign direct investment (FDI) promote growth in Africa? What does the inflow of investment hold for African … implication of FDI for different regional blocs in Africa. FDI was found to have a significant effect on growth in North Africa … but had no significant effect in East, Southern and West Africa. FDI was also found not to be driving growth in the whole …
Persistent link: https://www.econbiz.de/10011186474
Has macroeconomic management succeeded in making privatization promote growth in Africa? What are the probable … strategies that should accompany the privatization reform process to promote growth in Africa? To what extent has the … the success of the privatization reform process. It was also found that privatization was not promoting growth in Africa …
Persistent link: https://www.econbiz.de/10011186475
The article argues that neither the EU member states, nor the EU candidate states give enough attention to the requirement of maintaining a high economic performance of their economies by convergence and competitiveness strategies, so that they could have "the capacity to cope with competitive...
Persistent link: https://www.econbiz.de/10011108218
The recent financial and economic crisis has triggered bold and diverse policy responses to prevent further, sharper and prolonged adverse effects to the financial and the real sector. The measures for alleviating the cycle were a feature both of the advanced and the emerging and developing...
Persistent link: https://www.econbiz.de/10011111273
The economics profession not only failed to predict the recent financial crisis, but has been struggling in its aftermath to reach a consensus on the cause(s) of the crisis. While competing narratives are being offered and evaluated, the narrow scope of the debate on strictly technical aspects...
Persistent link: https://www.econbiz.de/10009151300
This paper approaches the question of potential causality between foreign debt and domestic savings in the context of developing countries. Literature provides evidence in as far as foreign debt and development is concerned, but little attention was given so far to internal potential for capital...
Persistent link: https://www.econbiz.de/10005000669