We propose a way to test the New Keynesian Phillips Curve (NKPC) without estimating the structural parameters governing the curve, i.e. price stickiness and firms’ backwardness. Using this strategy we can test the NKPC avoiding the identification problems related to the GMM approach. We find that it does not exist a combination of the structural parameters which is consistent with US data. This...

This is an attempt to describe the health programme lately undertaken in Trengganu. It has always appeared to me' that there could with benefit be more co-operation between the preventive and curative sides of medicine, between welfare centres and hospitals. As a welfare worker I have been reprimanded for attempting to cure my patients, and as a paediatrician I have been discouraged from having...

Modern political economies are distinguished from each other by the institutions that mediate actors’ interactions, falling somewhere along a spectrum between pure market and non-market mechanisms. But how did these institutions originally emerge? With regard to the financial sector, I argue that higher levels of national security threats in combination with economic backwardness lead to a fina...

Technological and economic innovations cannot respond to all social challenges. Natural material resources are becoming ever scarcer, so it is necessary use investment assets, maximizing efficiency. It a major task address the backwardness originating from regional disparities create opportunities for catching up in peripheral regions. The study, based on process-oriented model defined our prev...

W. E. B. Du Bois’s contribution to the study of the Negro Church was his historical argument about the viability and influence of African culture. Du Bois asserted the partial autonomy and creativity of black culture. This was a crucial achievement in his day when normative theories of African cultural “backwardness” prevailed. Du Bois’s detailed analyses of particular local black communities a...

Industrial sector plays a vital role in the development of Indian economy because they can solve the problems of general poverty, unemployment, backwardness, low production, low productivity and low standard of living etc. The Indian Government had undertaken policy reforms since 1980, but the most radical reforms have occurred since 1991, after the severe economic crisis in fiscal year 1990-91...

The present paper intends to examine the four most important approaches to institutions as they now prevail in the economic literature. These are: the transaction-cost approach, the principal-agent approach, the equilibrium-of-thegame approach, and the evolutionary approach. Each approach will be succinctly presented and, in a second step, the question as to whether institutions can be ineffici...

The mechanisms of growth out of backwardness are investigated in an intertemporal general equilibrium model for Thailand. Learning by exporting is assumed to be the main vehicle of international spillover. While the econometric literature discusses the causality between exports and productivity, we analyze the endogenous dynamic interaction and with long run growth effects of economic policy. T...