islamic republic of iran enjoys close and amicable relations with small and christian republic of armenia. on the contrary, the ties between iran and seemingly significant shia republic of azerbaijan are frayed. while tehran’s close relationship with yerevan is widely attributed to geographical and economic isolation of armenia, iran-azerbaijan unfriendly relations have stemmed from suspicion a...

The arguments in favor of trade liberalization are well known: it promotes the efficient allocation of resources through comparative advantage, allows the dissemination of knowledge and technological progress, and encourages competition. Trade liberalization is likely to have a major impact on the lives of poor children and their families. Although this effect may be positive in the long run, t...

Research on the macroeconomic impact of capital account liberalization finds few, if any, robust effects of liberalization on real variables. In contrast to the prevailing wisdom, I argue that the textbook theory of liberalization holds up quite well to a critical reading of this literature. Most papers that find no effect of liberalization on real variables tell us nothing about the empirical ...

In the middle of two crises, the first one in 1982 and a second one in 1986, Mexico initiated a new economic strategy, inaugurated with two important reforms: trade liberalization, and financial liberalization and deregulation. With the first reform the economic wanted to reposition Mexico in the international division of labor. With the second one they aimed at attracting capital inflows and m...

experience of double revolutionary upheavals in russia during the 20th century which produced a new socio-economic regularity on one hand and changed the political system from monarchial to democratic republic and then soviet state and finally presidential republic at the end of 20th century on the other hand are treated as democratic movements. in this regard, crumbling of ex-soviet regime and...

We study a two period representative agent economy in which economic liberalization is modeled as adding a positive random variable to the marginal product of capital. We show liberalization always raises the expected utility of agents. Agents may respond to this by increasing consumption in the ̄rst period. Consequently, consumption in the second period is sometimes smaller than the in the ̄rs...

Th is paper analyses the nature and causes of the patterns of inequality and poverty in India. Since the economic liberalization in the early 1990s, the evidence suggests increasing inequality (in both spatial and vertical terms) as well as persistent poverty. Th e macroeconomic policies possibly responsible for these trends include—fi scal tightening, regressive tax policies and expenditure cu...