This paper proposes a comprehensive yet evolutionary reform of the global monetary non-system that evolved out of the breakdown of the original Bretton Woods arrangement in the early 1970s. It includes: (i) a global reserve system that mixes the...
Radical and simultaneous economic reforms were implemented in many developing countries, especially in Africa, Asia and Latin America in the 1980s and early 1990s. Many of these reforms - structural adjustment programmes - were implemented with...
Part of Book Resetting the International Monetary (Non)System
Part of Book Resetting the International Monetary (Non)System
Part of Book Resetting the International Monetary (Non)System
The study proceeded by broadly categorizing the various defects of the economy as manifestations of two disequilibria in the system. The first disequilibrium pertains to the internal imbalances as reflected mainly by the stagnation in economic growth...
The abundance of private capital flows confronts many emerging-market authorities with a transfer problem. They must decide whether to accept or resist the net capital inflow, or how much to accept and how much to resist. This paper aims at assisting...
Four "gaps" or restrictions on capacity growth -- from available saving and foreign exchange, investment demand (with crowding-in of private by public capital formation), and ex ante discrepancies between inflation rates needed on the one hand to...
This paper shows that foreign aid in postwar Lebanon passed through two phases with distinct features that have had far reaching implications for postwar development. In the first phase lasting from 1992-97, foreign aid was mainly channeled towards...
This study investigates the effect of trade liberalization on export growth, import growth, the trade balance and the current account of the balance of payments in 17 least developed countries (LDCs) over the period 1970 to 2001. The paper also...
The objectives of this paper are to examine the impact of liberalization on trade deficits and current accounts for developing economies. Attempts at liberalization in trade could lead to an increase in imports in the short run and this could cause...
This paper analyses the history and effectiveness of the two major mechanisms of resolution of balance of payments crisis. It argues that IMF lending has met its counter-cyclical objectives through history and has been improving in terms of providing...
We are now into 2015, and the year is already gathering speed. 2015 is of course the 70th anniversary of the United Nations, and a major year in...
This paper documents the compilation of a 2017 Social Accounting Matrix for Myanmar. This is based on partial and unpublished National Accounts data and unpublished Supply and Use Table data, as well as Balance of Payment data and Government Finance...
Based on a recently constructed 2017 Social Accounting Matrix, we examine structural aspects of the Myanmar economy. The exposition ranges from industry, trade, household income, and expenditure to labour market issues. Agriculture remains dominant...
In this paper, we review the theoretical and empirical literature on capital flight. First, we discuss the measurement of capital flight. Next, we provide information on the magnitude as well as the ‘burden’ of capital flight for a selected set of...
This study presents and discusses structural features of the Mozambique economy through the lens of a recently constructed 2019 social accounting matrix (SAM). This is an important reality check of the SAM construction process since it brings...
China has been running a large trade surplus with the rest of the world, particularly with the USA and EU. This has caused considerable diplomatic tensions and tremendous pressure on the Chinese currency. Existing analytical studies, however, mostly...
This paper provides a historical background to contemporary debates on the international monetary system: their genesis, similarities, and differences of problems it has faced at different times. It looks sequentially at the design of the Bretton...
Part of Book Foreign Aid for Development
Part of Book External Finance for Private Sector Development
This study investigates the effect of trade liberalisation on export growth, import growth, the trade balance and the current account of the balance of payments in 17 Least Developed Countries (LDCs) over the period 1970 to 2001. The paper also...
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