Over the last decade, commodity prices have registered substantial booms and busts marked by extreme volatility. Wheat in particular, one of the main non-oil commodities, has registered a roller-coaster in price levels which seems to be inconsistent with supply and demand fundamentals. To...

Extreme poverty is an immense political and market failure, wasting the potential of hundreds of millions of people. Investing in the creation of markets that include the extreme poor and marginalized should thus not only be considered as a charitable activity, but promises high returns on...

Should tax reforms be guided by rules of thumb suggested by the IMF, or directions or reform based on analytical approaches, such as optimal tax theory? In many cases, the applications of the directions of reform—which suggest a differentiation of the structure given distributional, incentive...

Minority rights play a significant role in development policy, especially within inhomogeneous societies. The justification of minority rights is linked to the justification of human rights. The study develops elements of a new typology of minorities against the background of the question of...

This paper shows how the Dutch Disease has affected the Russian economy since the start of the transition in the early 1990s. Four symptoms have been detected, namely: 1) a real exchange rate appreciation, 2) a temporary improved economic situation, 3) an output decline in the...

Many developing market economies were strongly distorted during the 1960s and 1970s by fashionable policies to force industrialisation and they experienced growth collapses when exposed to the price shocks of the 1970s. In this context, the centrally planned economies were even more highly...

This paper explores the problem of court congestion in Indian lower courts. We use several measures to capture court congestion. These include: caseloads per capita and per judge, the number of cases older than a year per capita and per judge, and congestion rates calculated as the ratio of...

This paper addresses the issue of regionalism - as a form of identity and political mobilization - in the multiethnic northern Serbian province of Vojvodina, which has until today been spared of inter-ethnic violence that has characterized all other constitutive regions of the former socialist...

Ghana has a relatively good international reputation with respect to political stability and macroeconomic reforms. However, its success with developing the private sector and attracting investment has at best been mixed. Therefore the new government that came into power in 2001 proclaimed a...

Pessimists on globalization claim that liberalization of markets allows multinational corporations free reign, constraining local autonomy and precipitating a "race to the bottom" that will endanger recent democratic gains. The optimists see the end of dirigiste economic models as favorable for...