Is the Chinese Growth Miracle Built to Last? Is the Chinese growth miracle – a remarkably high growth rate sustained for over two decades – likely to persist or are the seeds of its eventual demise contained in the policies that have boosted growth? For all its presumed flaws, the particular approach to macroeconomic and structural policies that has been adopted by the Chinese government has he...

The formation of macroeconomic policy is conceptualized as on-going process of interaction between private individuals and a centralized policymaker. This interaction is inherently strategic in nature and lends itself to a gametheoretical treatment. Starting from the basic principle of rational expectations, the analysis advances a theoretical perspective on the related concepts of macroeconomi...

Changes were only made to the Executive Summary to clarify the concepts of compatible and complementary policies. ABSTRACT The working paper " Binding Constraints to Trade Expansion: Aid for Trade Objectives and Diagnostics Tools " [OECD Trade Policy Working Paper No. 94] showed that the most common objectives of Aid for Trade have the potential to boost economic growth. However, this growth po...

policy-oriented research on the impact on poverty of macroeconomic policies (fiscal, monetary and exchange-rate policies) and adjustment policies (financial liberalization, trade liberalization, and privatisation/de-regulation). In evaluating this impact, the research also identifies complementary policies that can enhance the impact on poverty of macroeconomic and adjustment policies. This pap...

macroeconomic policies lead to changes in farming system. these changes are accompanied by some most prominent factors that affect soil erosion. change in relative prices and its impact on soil erosion, via induced changes in crop patterns and agricultural practices, are related to policies implemented. one of the major goals of the present study is to emphasize on the flow of trade policies in...

Scandinavian social democracy represents one of the most systematic attempts to shape economic institutions and policies in pursuit of equality and full employment. Increasingly, however, these goals have eluded governments, and their institutional supports have eroded. This paper seeks to understand this shift through a comparative analysis that places particular emphasis on the interaction be...

Analysis of adjustment loans often overlooks their repetition to the same country. Repetition changes the nature of the selection problem. None of the top 20 recipients of repeated adjustment lending over 1980–99 were able to achieve reasonable growth and contain all policy distortions. About half of the adjustment loan recipients show severe macroeconomic distortions regardless of cumulative a...

Recent macro developments in the euro area have highlighted the interactions between fiscal policy, sovereign debt, and financial fragility. We take a structural macroeconomic model with frictions in the financial intermediation process, in line with recent research, but introduce asset choice and sovereign debt holdings in the portfolio of banks. Using this model, we emphasize a new crowding-o...

This paper examines how the scale and composition of public debt can affect economies that implement a combination of “passive” monetary policy and “active” fiscal policy. This policy configuration is argued to be of both historical and contemporary interest in the cases of the U.S. and Japanese economies. It is shown that higher average levels and moderate average maturities of debt can induce...

entrepreneurship, as one of the factors affecting economic growth, is also considered among the key factors by economic policymakers. however, in examining the issue of entrepreneurship, it should be noted that women’s and men’s entrepreneurship can be considered as two distinct and separate phenomena. therefore, the main objective of this paper is to investigate the relationship between women&...