How does an unexpected domestic monetary expansion a¤ect the foreign economy: Does it induce an increase or a decline in foreign production? And is it ’beggar-thy-neighbour’, or does it raise foreign welfare? Empirical evidence from VARs indicates that monetary policy has positive international transmission e¤ects on both foreign output and aggregate demand. A two-country dynamic general equili...

BACKGROUND South Africa, as an emerging middle-income country, is becoming increasingly influential in global health diplomacy (GHD). However, little empirical research has been conducted to inform arguments for the integration of domestic health into foreign policy by state and non-state actors. This study seeks to address this knowledge gap. It takes the form of an empirical case study which ...

as putin regained the power in russia, the situation gave a second chance to this country to avoid both the west and the benefits of convergence with its foreign policy and regional and trans-regional equations. this can take advantages from other side. approach of russia to divergence and independence with the west will increase level of russian hegemony on international arena. the main questi...

Based on a dynamic open-economy macroeconomic model, this paper aims at understanding the contribution of domestic financial under-development to foreign reserve accumulation in some emerging market economies, especially in China. It is argued that foreign reserve accumulation is a consequence of a growth strategy induced by strong capital investment in a financially constrained economy. It is ...

What explains variation in public opinion about foreign aid in donor countries? The conventional wisdom points to the importance of values related to the welfare state such as economic ideology. Scholars argue that liberals, who support redistribution at home, also support redistribution abroad in the form of foreign aid. Yet, the conditions under which individuals apply values learned in the d...

What is the appropriate degree of centralization in the context of industrial policy? The basic advantage of centralization results from internalization of external e ects. While most of the literature stresses the superior information of regional authorities as a countervailing force, the present paper discusses another argument in favor of decentralization: Delegation of authority to regional...

This paper characterizes optimal IMF policy in an environment with moral hazard followed by adverse selection. In our framework, government actions to improve domestic productivity are not always e¤ective, and the government learns of the success of its actions before foreign investors. Without the IMF, it is not possible for foreign investors to discern the quality of the domestic production s...