The paper investigates the situation of middle-income economies around the world. Since 1965, only 18 economies with a population of more than 3 million and not dependent on oil exports have made the transition to being high income. Many more have not been able to move beyond the middle-income stage. We conduct statistical tests of differences between two groups of economies across a range of g...

This paper explains why public domestic debt composition in emerging economies can be risky, namely in foreign currency, with a short maturity or indexed. It analyses empirically the determinants of these risk sources separately, developing a new large dataset compiled from national sources for 33 emerging economies over 1994-2006. The paper finds that economic size, the breadth of the domestic...

The paper suggests that the evolution of modern technologies in manufacturing, from economiesof-scale to economies-of-scope, plays a key role in the increasing outsourcing activities. It is shown that the divergence in the degrees of economies-of-scope and the attribute space of the products between different stages of production is the fundamental economic force behind the recent trend of outs...

We use generalized method of moments to estimate a rational expectations aggregate demand/aggregate supply macroeconomic model for five European economies and the United States. Our aim is to examine whether supply or demand shocks have predominated in these economies during the post-war era, and whether shocks of either type have been primarily temporary or permanent in nature. The estimation ...

This paper analyzes the role of financial development as a source of endogenous instability in small open economies. By assuming that firms face credit constraints, our model displays a complex dynamic behavior for intermediate values of the parameter representing the level of financial development of the economy. The basic implication of our model is that economies experiencing a process of fi...

abstract:while energy especially oil, crises and economic integration have been playing an important role indevelopment and growth in east west asia economies and their intertwining relations, only limitedquantitative research on their impact has been carried out and reported for improved debate andcredible policy use. this paper uses an econometric modeling innovation with features superior to...

This survey discusses theoretical models of speculative attack and currency crises, and reviews the empirical evidence. The paper outlines the correspondence of the models to different cases of crisis (e.g. Latin American crises, the ERM breakdown, and the recent Asian crisis), and points to gaps in the theoretical literature for explaining the Asian crisis. The large economic costs resulting f...

the convergence hypothesis maintains that an economy whose productivity lags behind other economies has a potential to grow faster. in other words, this economy can experience faster economic growth through absorbing, accepting, and using available technology experience. in this study, we have examined the relationship between tfp of industry sectors and regional convergence in iran's prov...

Although emerging market Asian economies have experienced high growth without crises for close to a decade, many commentators find the large buildup of foreign exchange reserves among these economies both puzzling and evidence of incipient global imbalances. This paper reviews some of the experience of Asian countries over the last decade. We focus on the degree to which Asian economies have ex...

 International trade causes that markets to become more competitive and small-medium sized enterprises (SMEs) learn to compete effectively within this increasingly competitive global market place. SMEs are able to take advantage of increased opportunities in domestic markets that follow from international trade. It is indeed a way for internationalization of SMEs. This paper analyzes income and...