Roots of Brazil'apos;s Relative Economic Backwardness explains Brazil'apos;s development level in light of modern theories regarding economic growth and international economics. It focuses on both the proximate and fundamental causes of Brazil'apos;s...

Economics is traditionally taken to be the social science concerned with the production, consumption, exchange, and distribution of wealth and commodities. Economists carefully track the comings and goings of the human household, whether written...

This title was first published in 2000:  The noble goals embodied in the Endangered Species Act are colliding with financial and social realities. Citizens increasingly face the costs of current policies, while initiatives which fail to respect...

Italian banks are burdened with high levels of nonperforming loans, the cleanup of which depends in important part on the efficiency of insolvency and enforcement processes. Traditionally, these processes in Italy have taken very long, hampering the...

Context. Australia has enjoyed a comparatively robust economic performance while adjusting to the end of the large mining boom of the 2000s. But the economy has not yet returned to full employment, and inflation is below its target range. Housing...

The economy is recovering after Cyclone Winston struck in February 2016. GDP growth is estimated to have rebounded to 3.8 percent in 2017 from 0.4 percent in 2016. It is projected to reach 3.5 percent in 2018 and stabilize at 3-3.5 percent in the...

This is the first book to cover in a comprehensive way, the conduct and structure of the international sugar industry from cultivation right through to end use. The authors look in detail at the workings of the growing and production sector and the...

Economic players must often choose between several strategic options in a fierce competitive environment where interactions with competitors make decisions particularly complex. Game theory offers useful insights to choose an optimal decision or at...

This new text provides a rigorous analysis of real estate markets. Three main sections cover:microeconomics of property markets the macroeconomics of commercial property the financial economics of propertyGlobal empirical examples illustrate the...

This paper provides a comprehensive, updated picture of energy subsidies at the global and regional levels. It focuses on the broad notion of post-tax energy subsidies, which arise when consumer prices are below supply costs plus a tax to reflect...

The relevance of recording and assessing countries' capital flow management measures iswell-recognized, but very few studies have focused on low-income developing countries(LIDCs). A key constraint is the lack of an appropriate index to measure the...

We present and discuss a set of indicators to help assess countries' trade policies. The indicators relate to three policy areas - trade in goods, trade in services, and FDI. Given concerns about the direction of global trade policy, we also consider...

Selected Issues

We explore the behavior of supervisors when a centralized agency has full power over alldecisions regarding banks, but relies on local supervisors to collect the information necessaryto act. This institutional design entails a principal-agent problem...

The income velocity of money-an inverse measure of the demand for money balances-is the ratio of the money value of income to the average money stock that the public (excluding banks) holds in a given period. Why the magnitude of that ratio has...

This new volume in the 'Advances in Management Information Systems' series presents the latest cutting-edge knowledge in IT outsourcing. As part of the growing business trend to outsourcing various operations, IT outsourcing both determines the...

In his foreword, the president of the World Bank, James D. Wolfensohn, states plainly and precisely the rationale for this volume. 'quot;Evaluation is a central aspect of any poverty reduction endeavor. Evaluation implies that we have adopted a...

As part of the Regional Project on Harmonizing External Sector Statistics (Proyecto Regional de Armonización de las Estadísticas del Sector Externo - PRAESE) of the Technical Assistance Center for Central America, Panama, and the Dominican Republic,...

This paper presents a stylized general equilibrium model of the Venezuelan economy. Themodel explains how the recent sharp fall in oil revenue combines with foreign exchangerationing to produce a steep rise in inflation. Counterintuitively, a...

We examine the impact of resource windfall on the standard of living both in the short-run and long-run, using a sample of 130 countries, 1963-2007. Then, we systematically investigate the effect of resource windfall on welfare in three different...

The United States has a problem – a big problem. Due to costs associated with the massive bailout of financial institutions deemed 'too big to fail,' on-going armed conflicts, and a move towards socialism, another even bigger bubble is about to burst...

This title was first published in 2000:  The noble goals embodied in the Endangered Species Act are colliding with financial and social realities. Citizens increasingly face the costs of current policies, while initiatives which fail to respect...

Current images of sustainability are often designed to instil fear and force change, not because we believe in it, but because we fear the consequences of inaction. Moving away from negative portrayals of sustainability, this book identifies the...

Banks are usually better informed on the loans they originate than other financial intermediaries.As a result, securitized loans might be of lower credit quality than otherwise similar nonsecuritizedloans. We assess the effect of securitization...

First Published in 1966. Routledge is an imprint of Taylor & Francis, an informa company.

Two types of currency in circulation models are identified: (1) a first generation derived fromthe theory of money demand and (2) a second generation aimed at producing daily forecastsof currency in circulation. In this paper, we transform the...

Denmark has a high level of compliance with the Basel Core Principles for Effective Banking Supervision (BCPs). The Danish Financial Supervisory Authority (DFSA) has the appropriate legal authority to carry out supervision effectively and in its...

The latest editions of introductory texts are becoming easier and easier. At the same time, macroeconomic models used by central banks in their simulations (the so-called Dynamic Stochastic General Equilibrium Models, DSGE) are increasingly...

Few papers have attempted to assess the role of 'capacity,' especially in the area ofmacroeconomic statistics. Consequently, we make an attempt to advance this literaturethrough the construction of a 'statistical capacity building index,' and then...

This study investigates the effect of gender budgeting in India on gender inequality and fiscal spending. Gender budgeting is an approach to budgeting in which governments use fiscal policies and administration to address gender inequality and...

Innovation, Entrepreneurship, Geography and Growth provides a timely, accessible review of our understanding of the complex links between innovation, entrepreneurship, geography and growth. Expert contributions provide a thorough roadmap of the...

The Central Bank of Morocco has been working on developing a Forecasting and Policy Analysis System (FPAS) to support a gradual move toward a more flexible exchange rate regime and the eventual adoption of a full-fledged inflation-targeting (IT)...

Motivated by the tension first revealed during the global financial crisis between thedomestic and international financial stability obligations of central bank reserve managers,this paper offers some reflections along four main lines. First, the...

Without doubt, Cuba is facing its most serious economic challenge in nearly thirty-five years of revolutionary rule. There is consensus that as the official, centrally planned economy has faltered, ordinary citizens eke out a living only by engaging...

This paper presents estimates of potential output for all Central American economies. Our findings are that potential output growth has declined in recent years in most economies of Central America. Lower capital accumulation and TFP growth are...

This book is written for undergraduate students in Economics and in Political Science who want to learn about the political economics of redistributive policies. It provides a positive analysis of the political process behind the design and...

Most capital markets that have been established in developing economies like Africa have struggled to make progress over two decades down the line. Development of African Capital Markets explores why these markets have remained underdeveloped and...

Selected Issues

Originally published in 1994, Teachers: Constructing a Future is designed for teachers, as well as those interested in the future of schooling and education. The book draws on sociological analysis, philosophical insights and aspects of political...

In recent years transaction costs economics have come to dominate the discussion of the nature and organization of firms. InTransaction Costs Economics and Beyond Michael Driscoll offers a critical exploration of transaction costs. He argues that...

This issue focuses on the ongoing adjustment to cheaper oil and subdued economic activity for oil-producing countries, as well as the weak and fragile recovery in the Caucasus and Central Asia region. It also discusses global spillovers from China's...

Codes and Rings: Theory and Practice is a systematic review of literature that focuses on codes over rings and rings acting on codes. Since the breakthrough works on quaternary codes in the 1990s, two decades of research have moved the field far...

Without doubt, Cuba is facing its most serious economic challenge in nearly thirty-five years of revolutionary rule. There is consensus that as the official, centrally planned economy has faltered, ordinary citizens eke out a living only by engaging...

A cyclical recovery is underway, with limited impact from the recent geopolitical tensions. Inflation has rebounded to around the Bank of Korea's 2-percent target, although it displayed some volatility. The current account surplus narrowed in 2017,...