External Monetary Constraints Imposed by Developed Economies on Developing Economies: Empirical Evidence from Pakistan

Environmental Scanning in Developed and Developing Economies

Conceptualising Innovation Systems: Can Developing Economies Learn from Developed World?

In previous chapters, the illustration of Thai economy was reflected through its public policy and planning development under economic and social development ambitions in over last four decades, including understanding of Thai national innovation system by evaluation of present status, roles, main activities and interactive linkages of three key players. These analytical exercises underlined th...

Bargaining in Monetary Economies.∗

Search models of monetary exchange have typically relied on Nash (1950) bargaining, or strategic games that yield an equivalent outcome, to determine the terms of trade. By considering alternative axiomatic bargaining solutions in a simple search model with divisible money, we show how this choice matters for important results such as the ability of the optimal monetary policy to generate an ef...

Solutions for Developed Economies

The negative effects of a high level of government debt are now generally acknowledged. The extensive borrowing of past years has enlarged the share of interest payments in government spending, thus restricting the scope for future fiscal policy action. There is very little prospect of being able to initiate economic recovery by way of expansive fiscal policy. High deficits and rising debt rati...

Solutions for Developed Economies

Providing the solution to the debt and deficit problems of developed economies is too big a task. I doubt it is possible to offer general recipes that can apply to all industrial countries, despite the surprisingly common origins of the deficit problems documented by the Mussa and Masson paper in this conference. For example, while in most countries accumulated social security liabilities repre...