Abstract Developing economies with high levels of open or hidden unemployment face structural transformation problems. Unlike in mature there are no aggregate demand problems, and sustained stimulus can lead to a profit squeeze the modern sector deindustrialization. Adaptations ‘functional finance’ developing should aim stabilize level composition at values that consistent target rate growth se...

This paper investigates whether Taylor rule can better guide the monetary policy in developing economies. Existing literatures do not focus on the implementability of rule-based monetary policy in emerging economies. In last two decades a number of industrialised countries have gained success in achieving macroeconomic policy goals by switching to rule-based policy regime from discretionary fra...

Based on data from nine Asian markets, this study investigates the relationship between bank concentration and the borrowing cost risk of firms. Over the study period, the concentration of banks increased in the developed countries and decreased in developing countries. After the 2007– 2008 financial crisis, the borrowing cost risk increased in both the developed and developing economies. The e...

This paper evaluates various channels through which foreign technology diffuses to the manufacturing sector of selected developing economies. These economies carry out very little (if any) own R&D so they rely on foreign technology to a much larger extent than developed economies. We investigate the direct effect of foreign R&D, as well as technology embodied in imports of intermediate and capi...

This paper explores the possibilities offered by informal communities of practice to operate as “prototyping spaces” for innovation in the context of developing economies. It begins by looking at the concept of “economic complexity” and how it is useful in both guiding the priorities and evaluating the challenges developing economies face when attempting to drive growth and build measures of re...

What is the role of common shocks in driving the business cycles of small open economies? We investigate this question in a structural small open economy model featuring a realistic debt adjustment cost and common shocks. We estimate the model using data for 17 small developed and developing countries between 1900 and 2006. The estimated model attributes nearly 50% of the output ‡uctuations ove...

Despite its importance for the global hospitality and tourism industry, firm creation remains an under-researched activity, particularly in terms of differences across developing and developed economies. By examining the impact of institutional structure on firm creation across economies of varying development levels, this study aims to address gaps in the literature and inform theory, practice...