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The article evaluates the contribution of outward foreign investment to so-called South-South co-operation. The authors imply that policy makers refer frequently to the need to increase and deepen economic co-operation among emerging, transition, and developing countries, and to the positive role that private sector actors can make in this regard. The expansion of South-South foreign direct investment (FDI) over the past decade has generated preliminary information, largely based on case studies, of the pros and cons of South-South FDI.

There is a widespread perception among academic researchers and aid practitioners alike that empirical cross-country analysis fails to find any significant link between aid flows and growth, and that aid is successful only when associated with good policies in the recipient countries. These positions do not stand up to careful scrutiny of existing studies. In this paper, we offer a re-examination of the literature on the aid–savings, aid–investment, and aid–growth relationships, and a comparative appraisal of more recent research contributions. Using an analytic framework for evaluating the empirical work, a coherent and positive picture of the aid–growth link emerges. There is a robust aid–growth link even in countries hampered by an unfavourable policy environment. Copyright © 2000 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

The relationship between foreign aid and economic growth has been the subject of much controversy. A recent theme suggesting that aid promotes growth, but only in a good policy environment has ratchet up that debate. In this paper, we assess the importance of policy and aid in generating growth when the aid, policy, and growth relationship is nonlinear. This allows us to examine the varying effects of aid and policy in different data segments, which we do without imposing any particular structure on the underlying relationship. We find that policy is an important determinant of growth. We also find partial corroboration of the view that aid is growth enhancing in a good policy environment, and some evidence of diminishing returns to aid. These findings suggest that nonlinearities if not appropriately addressed fail to capture the detailed underlying dynamics and thereby mask some key features of the aid-policy-growth relationship. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to evaluate the effectiveness of the European Union’s (EU) economic governance framework as a key component and driver of the EU - Economic and Monetary Union (EMU). Considerable measures to strengthen the EMU have been undertaken in recent years. In spite of this, its effectiveness in tackling challenges that might appear especially in times of crisis, is still called into question. The creation or reformation of institutions seems to be the most efficient manner in which the Eurozone can advance policies and mechanisms meant to stimulate economic growth. We have found that the major obstacles to more efficiency are two components: 1. the political dimension of the EU – or better said political interference of MS’s to protect their own interests; 2. weak EU leadership and vision – this, together with political interests, dilutes significantly the building of institutions, creation and enforcement of policies. Ultimately the question of improving effectiveness of EU economic governance lies in the EU’s ability to build a stronger foundation for its institutions. As a modern political and economic entity, subjugated to the MS’s, the EU must maintain a balance between state powers and institutional powers, a legal and democratically accountable system of governance, the enforcement and respect of law, whilst also protecting economic growth and the right for a better future. [ABSTRACT FROM AUTHOR]

Copyright of Research Papers of the Wroclaw University of Economics / Prace Naukowe Uniwersytetu Ekonomicznego we Wroclawiu is the property of Uniwersytet Ekonomiczny we Wroclawiu and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose: The purpose of this paper is to examine the dramatically changed role of Russia in the global economy since the dissolution of the Soviet Union in 1991, as the Soviet institutions collapsed and were either reformed or replaced in a new Russian institutional landscape. The paper presents a fact-based and balanced view of Russia's evolving role in the global economy, as distinguished from the sometimes one-sided view presented by some Western commentators. The authors establish that the two countervailing views are fundamentally based on different cultural perspectives about institutions, primarily the roles of business and government. Design/methodology/approach: This paper is developed as a perspectives article drawing upon the decades of academic and business experience of all three authors with Russian business, management and the economy. The paper focuses on the structure of Russian institutional change and places it within the historical context of the challenges of various periods of time from the late 1980s to the present. The authors posit that cultural foundations complicate that institutional evolution. Findings: Russia will remain a major player in world markets for energy, raw materials and armaments for the near future at least. Principal institutional questions facing Russia have to do with how to reduce the country's overall dependence on raw material exports, with its vulnerability to world market fluctuations, and how to modernize Russian economic and political institutions. The degree of success in addressing these questions will depend largely upon the ability of the new and reformed economic institutions to show the flexibility to respond to changes in the global order, on whether political considerations will continue to supersede economic issues, and how markedly cultural traditions will continue to impede positive changes. Research limitations/implications: The entire system of international trade is under question, disrupted by the growing nationalism that is threatening the globalization that became institutionalized over decades in the wake of the Second World War. Russia's future role is partially dependent upon how new patterns of international trade develop in response to the current disruption of established trade regimes, and by how political conflicts are expressed economically. The authors observe that Russia's historical and cultural traditions, especially acquiescence to a highly centralized government with a strong autocratic leader, limit the country's options. The authors explore how Russia's reactions to Western sanctions have led to a new strategic approach, moving away from full engagement in the global economy to selective economic, and sometimes political, alliances with primarily non-Western countries, most notably China. The authors contrast Russia's situation with that of China, which has been able to make substantial economic progress while still embracing a strong, centralized political institutional structure. Originality/value: Many Western analysts have viewed Russian institutional evolution very critically through the lens of Western politics and sanctions, while Russia has continued along its own path of economic and institutional development. Each view, the authors argue, is based upon differing cultural perspectives of the roles of business and government. As a result, a distinct difference exists between the Western and Russian perspectives on Russia's role in the world. This paper presents both points of view and explores the future of Russia's position in the world economy based upon its evolving strategy for national economic policy. The authors contrast the situations of Russia and China, highlighting how Western-centric cultural views have affected perceptions of each country, sometimes similarly and at times with decided differences. [ABSTRACT FROM AUTHOR]

This paper examines the contemporary aid effectiveness architecture in Pakistan in the light of the 2005 Paris Declaration (PD) on Aid Effectiveness. First, it looks at the PD commitments and explores the factors that prompted the emergence of the PD at the global level. The paper then examines policy initiatives undertaken as well as institutional set ups established by the Government of Pakistan (GoP) for effective utilization of foreign aid within the PD framework. The main aim is to explore the gaps and linkages between the international aid effectiveness agenda of the PD and the strategies formulated by the GoP for its promotion at the national level. To this end, both the PD doctrine and GoP plans are critiqued to examine to what extent these fulfill the prerequisites for improving aid effectiveness. [ABSTRACT FROM AUTHOR]

This paper examines causes and consequences of corruption within the process of economic development. Drawing on experiences and insights accumulated during the post-war period and reflected in a growing body of academic research, the paper analyzes institutional mechanisms that sustain corruption and the impact of corruption on development. It argues that many forms of corruption stem from the distributional attributes of the state in its role as the economy's central agent of resource allocation. It also addresses the question of what can be done about corruption and discusses the role of economic policies in developing incentives and institutions to reduce its incidence. [ABSTRACT FROM AUTHOR]

A vast literature describes the process of credit expansion that took place in the early 2000s in Brazil, which entailed a strong increase in consumer credit. Given the centrality of consumer credit not only in the determination of macroeconomic dynamics but also in the daily life of the population, the history of its evolution is a recurring and important theme in the context of developed countries. Such a history has, however, not been told for the Brazilian case. Using archival and other sources, this paper puts this process into historical perspective using a Social Structure of Accumulation framework. We find that the expansion of consumer credit has underpinned Brazil's accumulation regimes. Putting consumer credit to the historical test allows us to deepen the understanding of its modern expansion and the role played by this credit in the organization of the economic system through time. [ABSTRACT FROM AUTHOR]

In the 1990s, around the world, government policies on FDI were unequivocally FDI -friendly. Numerous policy changes were enacted to make the investment climate more favourable to FDI. However, over the past few years a range of countries has enacted policy measures less favourable to FDI. Does this represent an overall shift in FDI policy thinking? And, if so, what are the current drivers of such a change? This paper discusses trends in contemporary FDI policy and the role played by prevailing narratives, actors and the changing context in shaping policy. [ABSTRACT FROM AUTHOR]

Does the effect of international trade on income growth depend on the economy’s level of development? More specifically, is trade more beneficial to lower income economies? Does trade contribute to a smaller international income inequality? The present paper seeks to answer these questions by employing the empirical model of Frankel and Romer (1999 ), which shows trade increases income growth in a cross section of 150 countries. We find evidence in support of the hypothesis that international trade benefits the lower income economies more than it benefits the higher income economies. This finding is robust in the presence of control variables including distance from the equator and institutional quality. [ABSTRACT FROM AUTHOR]

Copyright of Research Papers of the Wroclaw University of Economics / Prace Naukowe Uniwersytetu Ekonomicznego we Wroclawiu is the property of Uniwersytet Ekonomiczny we Wroclawiu and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The concept of planning horizons serves as a measure of many unsettled aspects of economic analysis. First and foremost, the notion is ordinal: we speak of 'horizon effects' as directional shifts in planning horizons without tallying 'wits' or calibrating horizonal axes of change. Second, the derivation of horizon effects is inductive; we simply assert their inherence in the range of factors subsumed within the imagined projections behind all choice. The planning horizon is set wherever surprise supplants expectation; the horizon occurs at the outer range of accurate anticipation, to which we lack clear epistemological access. Planning horizons - horizon effects - suggest a new foundation for an ethical economics of conscience, social maturation and growth. The idea of planning horizons invites a distinction of foresight from myopia in economic constructions. But time horizons are only one aspect of our planning horizons: to see ahead in time we must embrace all relevant causal effects. Foresight depends on knowledge of how reality actually works, which is a matter more of degree than 'truth'; the planning horizon offers an index of our 'rational bounds.' Our range of anticipation is also related to our internalization of social and ecological externalities in our decisions, so to the scope of our ethical conscience and to our sense of human community. Indeed, the organizational health and integrity of our society is horizonal in this sense. The aim of this paper is to explore and develop the concept of planning horizons in its intellectual origins and economic concerns. Its philosophic conceptual roots, methodological underpinnings, psychological insights and economic implications are outlined to show why an economics of planning horizons offers an ethical economics of interdependent dynamic complex systems. With standard doctrines seen as a special case in a larger horizonal frame, social The Journal of Philosophical Economics VI:1 (2012) 3 Jennings, Jr., Frederic B. (2012) 'A theory of planning horizons (2): the foundation for an ethical economics', The Journal of Philosophical Economics, VI:1 theory embraces an ethical economics with dissimilar institutional implications favoring cooperation. [ABSTRACT FROM AUTHOR]

This paper proposes an integrated theoretical and methodological framework characterized by technological interactions to explain growth processes from a Schumpeterian perspective. Global interdependence implied by international R&D spillovers needs to be taken into account in both the theoretical and empirical models. For this task, spatial econometrics is the appropriate tool. The econometric model we propose includes the neoclassical growth model as a particular case. We can therefore explicitly test the role of R&D investment in the long-run growth process against the Solow growth model. Finally, the properties of our spatial econometric specification allow the explicit evaluation of the impact of home and foreign R&D spillovers. [ABSTRACT FROM AUTHOR]

In this paper we argue that the path of economic development for would-be developers has changed fundamentally since the 1980s. Focusing on East Asia, and taking a broad perspective that spans the economic and social dimensions of development, we contend that the path charted by the 'late development' model has become all but impassible. The path is now better conceived as one of 'compressed development.' Key differences are 1) the extent and consequences of compression; 2) the primary mode of engagement with the world economy-via global value chains; and 3) the interaction of these. Compressed development forces states to address a number of simultaneous challenges, resulting in 'policy stretch.' We identify key features of an 'adaptive state' suited to navigating the path of compressed development. [ABSTRACT FROM AUTHOR]

This paper examines the macroeconomic determinants of cross-border mergers and acquisitions (M&As). Using a panel dataset of bilateral M&A deal values for 101 countries for 17 years ranging from 1989 to 2005, we investigate both home and host-country factors that may play an important role in determining the size and direction of M&A flows. Overall, the empirical results suggest that legal and institutional quality and financial market development increase M&A volume across borders. The significant effect of institutions, however, may disappear for transactions between countries in similar stages of the development. [ABSTRACT FROM AUTHOR]

Remittances have been a great support to Pacific island countries (PICs). Aside from providing additions to domestic savings and, hence, real resources, they have been one of the major sources of foreign exchange earnings. In the context of falling exports and limited options to diversify their exports, inward remittances have assumed greater importance. This paper examines the nexus between growth and remittances in Samoa. [ABSTRACT FROM AUTHOR]

Trade barriers can lead to the disappearance of products and impose huge costs. Allowing for the realistic possibility that imported products are substituted by domestic varieties this paper finds that the cost of protection that allows for disappearance of products, the ‘Romer cost,’ is higher below a tariff threshold. This threshold depends on the substitutability of domestic for foreign products. This is important for developing countries where inferior technology leads to poor substitutability and traditional calculations underestimate the cost. Analysis of new varieties trade after the Indian liberalization supports the findings in the context of a developing country. [ABSTRACT FROM AUTHOR]

The EU claims that its free trade agreements with regional organisations of developing countries can promote the respective regions' integration into the world economy. Taking as case studies EU negotiations with the Southern African Development Community and Mercosur, the paper argues that the EU and its partners have different conceptions of integration into the world economy. For the EU the latter simply means multilateral trade liberalisation under the wto, while, for its partners, it involves increasing industrial production and exports of manufactured products. If the latter notion is accepted, an fta with the EU should increase European foreign direct investment into the region or at least increase their trade surpluses, thus increasing the resources available for support of local firms. The paper argues that an fta with the EU will not be likely to produce these results; thus the fta will simply be an instrument to promote market access for EU firms. [ABSTRACT FROM AUTHOR]

Over the last decade, essentially since the Asian crisis of 1997-98, the economic integration of Northeast Asia has been marked by three overarching trends. Economic relations have become: 1) more institutionalized; 2) more "Asian;" and 3) more China-centric. These macro-trends are demonstrated and analyzed in the paper. But by way of anticipation, numerous counter-cutting facts need also to be kept in mind. In essence, recent trends, notable as they are, have by no means reversed three counter-realities: 1) economic ties are still largely driven, less by governments and formal arrangements, than by corporations in search of profits and production efficiencies; 2) despite growing economic interdependence across Northeast Asia and between that sub-region and Southeast Asia, Japan, China and South Korea remain heavily linked to global, and particularly US, markets; and 3) though China is an ever important hub in Northeast Asian trade and investment, Japan remains by far the most powerful economic player in the region. [ABSTRACT FROM AUTHOR]

The recent literature contains many stories of how foreign aid affects economic growth. Aid raises growth in countries with good policies, or with difficult economic environments, or outside the tropics, or on average but with diminishing returns. The diversity of the results suggests that many are fragile. Seven important aid-growth papers are tested for robustness, using 14 minimally arbitrary tests deriving mainly from differences among the studies themselves. This approach investigates the importance of potentially arbitrary specification choices while minimizing the arbitrariness in testing choices. All of the results appear fragile, especially to sample expansion. [ABSTRACT FROM AUTHOR]

This paper examines a two-country dynamic general equilibrium model with status-seeking agents. We show that the introduction of status-seeking behavior brings about new properties in equilibrium dynamics. While there exists a continuum of steady states in the standard dynamic models, the present framework demonstrates that, under some conditions, there uniquely exists an incompletely specialized steady state, which is locally saddle-point stable. Therefore, catching-up and overtaking phenomena seen in economic development can be explained, and comparative statics analysis also is made possible. Our comparative statics analysis illustrates, for example, that trade pattern is determined in the Heckscher–Ohlin manner; the patient country acts just like a capital abundant one to export the capital-intensive good. Furthermore, as distinct from the existing literature, the present study shows that the existence of an incompletely specialized steady state can be ensured even if the two countries conduct different policies. [ABSTRACT FROM AUTHOR]

This paper uses econometric estimates of the link between aid and economic growth to ask how much additional aid is required to meet the Millennium Development Goal of halving global poverty by 2015, and how this aid should be allocated across countries. It first shows that a large increase in existing aid levels can be justified to halve $1-a-day poverty by 2015, on a country-by-country basis, under the econometric estimates obtained by Hansen & Tarp (2001, Journal of Development Economics, 64, pp. 547-570) and Lensink & White (2001, Journal of Development Studies, 37, pp. 42-65), but not those of Collier & Dollar (2002, European Economic Review, 46, pp. 1475-1500). The paper then shows that, even where an increase in existing aid levels can be justified, a much larger number of people - up to around 70 million - could be lifted out of poverty by 2015 if aid was instead allocated on a poverty-efficient basis. This cautions against the use of a country-by-country target approach when allocating aid across recipient countries. [ABSTRACT FROM AUTHOR]

This paper briefly reviews the economic performance of China's economic reform starting in 1978, and which it presents personal views on the experiences of Korea's economic development and lessons for China's economic reform. The paper reviews the China-Korea economic relationship, and explores both the opportunities of China's economic development for Korea and the prospects for Bilateral Economic cooperation. It is estimated that the Chinese economy will maintain dynamic growth for the coming decade. The 2008 Olympic Games and the 2010 World Expo in China will provide further impetuses for Chinese economic development. China's huge market and its rapid economic growth can help the further recovery and development of the Korean economy. At the same time, the further development of the Chinese economy can benefit from financial, technical and managerial support from Korea. The complementarities between the industrial structures of China and Korea will surely push their future economic cooperation into a broader and deeper stage. Bilateral trade will enhance the competitiveness of both nations in the global market and help them achieve mutual prosperity and development. (Edited by Xinyu Fan) [ABSTRACT FROM AUTHOR]

This paper presents and discusses the main challenges that an archipelago like Indonesia is facing in improving its connectivity. Distinguishing between intra-island, inter-island, and international connectivity is essential in order to understand the nature of the challenges and causes behind the bottlenecks. High domestic shipping costs are identified as one key challenge. The Government of Indonesia has identified improved connectivity as a key issue in promoting economic growth, especially in the manufacturing sector, now that Indonesia can no longer rely on commodities as a driver of growth. Better infrastructure, regulations, and coordination among stakeholders are crucial components in promoting improved connectivity for manufacturing growth. Promoting investment in infrastructure is necessary, including both hard and soft infrastructure. However, Indonesian experience highlights that without regulatory reform and improved policy coordination, infrastructure investment will continue to lag behind. There is a need for an improved and empowered governance structure to turn investment plans into reality. [ABSTRACT FROM AUTHOR]

Location is of paramount importance within the retail sector, yet defining locational obsolescence remains overlooked, despite significant concerns over the viability of parts of the complex sector. This paper reviews the existing literature and, through this, explores retail locational obsolescence, including the multi-spatial nature of the driving forces that range from the global economy, local markets and submarkets, to individual property-specific factors; and, crucially, the need to disentangle locational obsolescence from other important concepts such as depreciation and functional obsolescence that are often mistakenly used. Through this, a conceptual model, definition and diagnostic criteria are presented to guide future studies, policy development and the allocation of resources. Importantly, three stages are presented to enable the operationalization of the model, essential to future academic and industry studies as well as the ongoing development of policy in this economically important, complex and contentious area. [ABSTRACT FROM AUTHOR]

Introduction. Efficiency of an enterprise or industry functioning currently depends on economic security systems applying into their operation. There are a sufficient number of scientific studies which describe the components of economic security. However, the authors do not answer the question: ⪡On what basis had they chosen the components of the economic security system?⪢ Thus, generalization of scientists' comprehension concerning the economic security system components is necessary. Proposed by the scientists requirements for the economic security systems development are related to the principles of the economic security systems forming. Therefore, the purpose of this paper is to show the principles of economic security through systematization and generalization approaches that characterize the economic situation as safe. Results. The principles that provide economic security were systematized and can be taken as the basis for the economic security systems development. As a result, such principles of economic security have been singled out: economic security consists of elements; it takes into account internal and external threats; it develops on innovative principles; economic security information systems need information protection; stable operation is vital; the future threats prediction to the timely response should be implemented; adherence the legal and regulatory framework is expected; investigation of economic security by the system approach should be provided; anti-crisis policy with alarm indicators is to be applied; competitiveness is expected; ability to reproduce is essential; satisfaction of the social needs is a core. Conclusion. Described approach has allowed clarifying the conceptual basis for the economic security systems creation. Applying these principles in practice makes it possible to build up well-functioning economic security systems of the industry or the state. Moreover, these principles should be applied to all of the constituent elements. [ABSTRACT FROM AUTHOR]

After decades of isolation, Myanmar is now actively re-engaging with the global economy. For successful re-engagement, Myanmar needs to implement comprehensive economic reforms based on a shared vision of long-term economic development characterized by human-centred, sustainable, pro-poor, inclusive, high and balanced economic growth. In this paper, we propose five growth strategies: an "Agriculture Plus Plus" strategy; an export- oriented strategy; a foreign direct investment driven strategy; a two-polar growth strategy; and a domestic economic corridors development strategy. These strategies are used as guides to translate wide-ranging development agendas into a set of implementable policies, programmes, and projects. [ABSTRACT FROM AUTHOR]

Copyright of Studies of Socio-Economics & Humanities / Socioekonomické a Humanitní Studie is the property of College of Banking, Banking Institute and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Fukuda-Parr and Yamin explore the effects of global goal setting on international development agendas and thinking. They present a condensed synthesis of the 'Power of Numbers' project, an independent research initiative, led by them, and involving 17 scholars. The project analyzed the influence of MDGs and associated indicators on policy priorities and development narratives, their diverse incentives, and both intended and unintended consequences. The authors recommend that both positive and negative lessons from experience be kept in mind in the design of the post-2015 agendas. [ABSTRACT FROM AUTHOR]

This paper reviews the development of the ROK policy on North Korea and its relations with inter-Korean economic cooperation over the past 15 years. It also briefly assesses the current status of inter-Korean economic cooperation and discusses its future development. In addition, the paper argues as follows. The ROK policy on North Korea consists of three parts: 1) the basic perceptions of the existing DPRK regime, 2) set of prioritized policy goals such as peace, coexistence and unification between the two Koreas and 3) various policy measures with the most important being inter-Korean economic cooperation. As a result, changes in the perceptions of the DPRK or in prioritizing policy goals on North Korea have had direct impacts on both the pattern and performance of inter-Korean economic cooperation and vice versa. It means that inter-Korean economic cooperation has been fundamentally driven by the ROK government. For future development, however, this government-led economic cooperation should be converted into a private sector-led initiative that can be relatively free from the changes in South Korea's policy on the DPRK. This private sector-led economic cooperation will also allow the ROK government to pursue its policy on North Korea in more efficient and rational ways. [ABSTRACT FROM AUTHOR]

Asia is an increasingly significant player in the global economy, and Asia's unprecedented growth and multifaceted disparities have generated many fascinating issues for scholarly research. This paper summarizes the diverse regional policy and practices of Asia in the context of globalization and transition. We argue that research on Asia is embedded in the complex economic-geographical processes and multiple trajectories of development. This paper highlights the important role of institutions and global-local interactions in regional development and public policy. Resumen. Asia es un actor cada vez más importante en la economía mundial y su crecimiento sin precedentes y las múltiples facetas de sus disparidades han generado un buen número de tópicos fascinantes para la investigación académica. Este artículo resume las diversas políticas y prácticas regionales de Asia en el contexto de la globalización y la transición. Sostenemos que la investigación sobre Asia está inmersa en los complejos procesos económico-geográficos y múltiples líneas de desarrollo. El artículo pone de relieve el importante papel de las instituciones y las interacciones globales-locales en materia de desarrollo regional y políticas públicas. [ABSTRACT FROM AUTHOR]

This paper analyzes whether the foreign aid recently provided for Latin America and the Caribbean (LAC) is efficiently distributed or not. Despite the substantial progress attained in LAC, economic growth and poverty reduction in countries of this region lag behind countries in other regions, especially East Asia. Moreover, recent studies indicate that when donor countries allocate aid, they increasingly select countries which can use aid effectively for economic growth and poverty reduction. For this reason, we suspect that foreign aid for LAC has been less effective in promoting growth and reducing poverty mainly because it was allocated to countries in LAC inefficiently For this study, we consider both recipient countries' development needs and donor countries' economic interests in allocating foreign aid at the same time. We analyzed relevant data from 22 Development Assistance Committee (DAC) member countries and 32 LAC countries during 2005-2009. In addition, we also considered Korea's distribution of foreign aid for comparison with aid allocations by other DAC member countries. The results show that foreign aid allocations by Korea and other DAC member states for countries in LAC should be improved substantially so that countries in LAC can use the foreign aid effectively for economic growth and poverty reduction. [ABSTRACT FROM AUTHOR]

As the world economy has entered a "post-crisis" era and States one after another has rebound, the focus of technological competition of economic is reflected in technological competition, which directly depends on the talent competition, that is, the quality of laborer competition. From the perspective of change the mode of economic development, this paper aims at establishing a more scientific and reasonable quality index system of laborer, and computes more accurate scores of laborer quality, so that for the future, especially the policy formulation and academic research about laborer quality during the "Twelve-Five". [ABSTRACT FROM AUTHOR]

The paper analyses the trade competition between China and India in Africa over the period from 2008 to 2017. After the 2008 financial crisis, China increased its advantage over India in exports of goods to rich African countries and in imports of goods from resource-abundant Africa's least developed countries. China-Africa and India-Africa trade relations are win-win relations. However, African countries are becoming more and more dependent on the condition of the Chinese economy. Compared to Chinese exports, Indian ones destroy fewer African markets. [ABSTRACT FROM AUTHOR]

Historians have long debated the relationship between Ireland's long-term economic performance and the distinctive features of its culture and political system. The catastrophic downturn that has taken place since 2008, coming at the end of a period of unprecedented growth, has given these questions a new and pressing relevance. By historicising fluctuations and economic crisis in the more distant past, economic historians can provide important insights for contemporary debates. The four items in this symposium are revised versions of papers delivered to the Annual Conference of the Irish Economic and Social History Society, which was held at University College, Cork, on 17-18 September 2010. Mary Daly's paper covers the belated Irish reaction to the Great Depression in the 1930s, while Brian Girvan argues that the failure of the Irish establishment to engage positively with the new international economic institutions established after the Second World War exacerbated Irish economic difficulties in the 1950s. Frank Barry has focused closely on the Exports Profit Tax Relief Scheme of 1956, as a major turning point which led to greater foreign direct investment thereafter. The final paper by Eoin O'Leary suggests that the small scale of the Irish economy was an important factor in accounting for recent spectacular growth trends, arguing that centralized economic policies are unsuitable for an economy the size of the Republic of Ireland. [ABSTRACT FROM AUTHOR]

Since the launch of the Barcelona Process in 1995 and later the Euro-Mediterranean Partnership, economic relationship between the European Union (EU) and Southern Mediterranean has grown tremendously. Trade volume, in terms of absolute value, between the EU and Southern Mediterranean has grown to an unprecedented height. Although the value has increased, foreign direct investment (FDI) from the EU to Southern Mediterranean remains low. South-to-North migration has also undoubtedly increased given the fact that it has become one of the priority concerns of the EU. Development has taken place through these economic exchanges. However, economic development growth rate remains considerably low compared to that of Latin America and Southeast Asia. This paper discusses about the economic development dynamic of Southern Mediterranean in comparison with that of Latin America and Southeast Asia through economic indicators, economic openness and trade, FDI and migration flows and structures. It also discusses about the challenges faced by Southern Mediterranean and how the economic crisis in the EU may affect their economic relationship. [ABSTRACT FROM AUTHOR]

International migrant remittances have stimulated considerable interest as a development resource. This paper looks closely at the household-level dynamics of remittance flows and remittance usage, recognizing that the key actors in the remittances story are migrants and their households. Data are drawn from household surveys, focus groups and interviews with remittance recipients and returnees in three countries with substantial remittance inflows: Sri Lanka, Indonesia, and the Philippines. The paper describes variations and patterns in migrant destination and work, remitting behavior, and the use of remittances in households, with attention to their larger implications. [ABSTRACT FROM AUTHOR]

This paper examines the transformation of the Iranian economy through the twentieth century within a global context. At the start of that century, the Iranian economy had long remained stagnant, poor, and largely agrarian, with a marginal role in the world economy. By the turn of the twenty-first century, Iran had transformed into a complex and relatively large economy with important consequences for the economies of the Middle East and other parts of the world. While the initial conditions and the evolution of domestic institutions and resources played major roles in the pace and nature of that transformation, relations with the rest of the world had crucial influences as well. This paper focuses on the latter forces, while taking account of their interactions with domestic factors in shaping the particular form of economic development in Iran. We study the ways in which the development of the Iranian economy has been affected by international price movements and by the ebbs and flows of trade, investment, and economic growth in the rest of the world. In considering these effects, we also analyze the role of domestic political economy factors and policies in enhancing or hindering the ability of domestic producers to respond to external challenges and opportunities. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to address the root causes of rising imbalances in the US economy. There is the view that the dominance of the liberal economic philosophy among the American decision makers and business elite resulted in marginalization of the role of the economic government. As a result, the US economy is facing problems in many sectors and might be poorly prepared to face the challenge of globalization in the knowledge-based industries. Design/methodology/approach - The paper provides review and critique of the contemporary literature of "declininists" proclaiming the end of the American Empire. Findings - In order to restore the strength of the US economy and utilize its potential, Americans must consider a new generation of politicians and legislators capable of reforming the tax system, stepping up the supervision of the financial sector, eliminating inequality in education and reforming the electoral system. Research limitations/implications - America is at a turning point. The problems of the American economy are home-made, but their implications are international. In the last two decades the USA pursued a dysfunctional dual dependence on imports of manufactured goods and capital. Allowing the dollar devaluation has been a short-sighted policy which will have dire consequences on import-dependent economy and the USA's position in the world economy. Liberal prescriptions of self-regulating markets cannot replace long-term government economic strategy which America badly needs today. Practical implications - Since the liberal wishful-thinking failed, economists, politicians and legislators should stop evoking conservative liberal mantras and start working on responsible economic policy solutions before the US economy plunges into a deep recession and years of damaging pessimism. Originality/value - Rather than repeating arguments of the authors proclaiming the end of American Empire, the paper looks for chances and opportunities for the US economy's rejuvenation in the future. [ABSTRACT FROM AUTHOR]

One factor limiting aid effectiveness is its volatility. We examine aid volatility in 66 countries over 1975–2004, paying particular attention to the characteristics of ‘difficult partnership countries’ and making a distinction between sector aid and total aid. We explore whether weak recipient institutions and policies are associated with greater volatility, allowing for differences in donor characteristics. Institutional quality and macroeconomic stability affect the stability of all kinds of aid, as does reliance on a small number of donors. However, the relative importance of these effects varies across different aid types. [ABSTRACT FROM AUTHOR]

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This paper traces the history of Japan's Official Development Assistance centered in Southeast Asia through the decades from the 1960s to the 2000s. The characteristics of the "Japan ODA model" are examined and three conditions for economic growth generated by ODA are proposed. Whether or not the "Japan ODA model" is applicable in other regions is also discussed. [ABSTRACT FROM AUTHOR]

The topic of this paper has been inspired by something of particular interest to Michael Mussa, something to which he made major and important contributions while at the IME The biannual World Economic Outlook, published since the 1980s under the auspices of the Research Department, has, as its purpose, the provision of "analysis and projections … [as] integral elements of the IMF's surveillance of economic developments and policies in its member countries, developments in international financial markets, and the global economic system." In policy-oriented institutions (and in most businesses and individual decision making), policymaking decisions are often guided by projections and forward-looking indicators. [ABSTRACT FROM AUTHOR]

In the 1980s, the Chinese regime took a number of piecemeal steps toward economic liberalization. This process accelerated impressively in the 1990s. This paper reports an empirical study into the determinants of the emerging pattern of Chinese trade (export and import) intensities in the liberalization decade by exploring international trade statistics for 1993 and 1999. Four models are estimated that explain the shifts in the export and import intensities of the trade with different trade partners in the 1993-1999 period. The estimation results reveal differences for export vis-à-vis import trade intensities, as well as (or 1993 compared to 1999. For example, the political determinants of trade intensities that were still very important in 1993 have been moved to the background by economic explanations in 1999. [ABSTRACT FROM AUTHOR]