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...

Selected Issues

This paper discusses Grenada's Fifth Review Under the Extended Credit Facility (ECF), Request for Modification of Performance Criteria, and Financing Assurances review. Overall program implementation remains solid. All quantitative performance...

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...

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...

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...

This title was first published in 2003. Bringing together contemporary innovation pattern theories inspired by the two original patterns developed by Joseph A. Schumpeter, this book develops an innovative new model of long wave aggregate level...

Contrary to common belief, macroeconomics is not merely a theory of aggregates, and cannot be constructed from individual behaviour. Both nationally and internationally, there are economic laws that are logically independent of economic agents'apos;...

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...

Inflation dynamics, as well as its interaction with unemployment, have been puzzling sincethe Global Financial Crisis (GFC). In this empirical paper, we use multivariate, possiblytime-varying, time-series models and show that changes in shocks are a...

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 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 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...

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...

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...

As America'apos;s most dysfunctional big city, Detroit faces urban decay, population losses, fractured neighborhoods with impoverished households, an uneducated, unskilled workforce, too few jobs, a shrinking tax base, budgetary shortfalls, and...

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,...

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...

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...

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...

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...

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...

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...

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...

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...

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,...

From the inability of wealth to make us happier, to our catastrophic blindness to the credit crunch, Economyths reveals ten ways in which economics has failed us all. Forecasters predicted a prosperous year in 2008 for financial markets - in one...

Covering the period from November 1918 to the restoration of the Gold Standard in the UK in April 1925, this book, originally published in 1947, sets out and explains the economic facts of the immediate post-war period. There are sections on...

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...

This book provides a focused understanding of contemporary forest management issues through real life examples to engage students. The methodology for the development of quantitatively-derived forest management plans - from gathering information to...

Over the past 15 years, local money networks, which are essentially trading networks using a community-created currency, have emerged in countries as far apart as Argentina, Australia and New Zealand, Canada and the US, continental Europe and Japan....

Interest in the problems of underdeveloped economies has increased since the early 1950s, and is now a primary topic in university courses. When this book was originally published, it reflected a sense among some economists that current, orthodox...

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...

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...

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)...

There is a widespread perception that trust and social capital have declined in United States as well asother advanced economies, while income inequality has tended to increase. While previous research hasnoted that measured trust declines as...

The economy of Bosnia and Herzegovina (BiH) continues to recover. Growth was3.2 percent in 2015, despite fiscal consolidation forced by financing constraints, and isexpected to be at about the same level this year. External and internal imbalances...

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...

Over the past 15 years, local money networks, which are essentially trading networks using a community-created currency, have emerged in countries as far apart as Argentina, Australia and New Zealand, Canada and the US, continental Europe and Japan....

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 propose a stress testing framework of credit risk, which analyzes macro-financial linkages, generates consistent forecasts of macro-financial variables, and projects NPL on the basis of such forecasts. Economic contractions are generally...