Let (Xn,i)1≤i≤n,n∈N be a triangular array of row-wise stationary R-valued random variables. We use a “blocks method” to define clusters of extreme values: the rows of (Xn,i) are divided into mn blocks (Yn,j), and if a block contains at least one extreme value the block is considered to contain a cluster. The cluster starts at the first extreme value in the block and ends at the last one. The ma...

The great depression of thirties and the Second World War were the two major historic events, which brought radical change in the study of the principles, problems and policies of economic development. This was also necessitated perhaps due to the fact that most of the Asian and African countries got independence from the colonial rule immediately after Second World War. At present economic dev...