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ABSTRACT Eurodollars are dollar-denominated deposit liabilities of banks outside the United States. Even though estimates of the size of the Eurodollar market exceed $5 trillion, these instruments are virtually unregulated. [...]

Economic stability achieved by United States Federal Open Market Committee with relation to efforts of Alan Greenspan is presented.

The role of asset pricing on setting monetary policy is examined. The focus of monetary policy in controlling inflation and financial stability is emphasized.

A study showing the relationship between different industries under the export sector and SpainEs economic growth during the 20th century reveals that during 1910-1960 the exports and the country's development were moving independently. However, during the subsequent liberalized period, i.e., between 1961 and 2000, there was significant integration.

The author provides an account of US economic growth during the 1960s-1990s. The effects of technological advances on industrial productivity, increase in consumer confidence due to economic stability, and growth of the middle class and its capability of raising the standard of living are discussed.

Russia's financial crisis is analyzed, focusing on the difficulties in stabilizing the Russian economy. The decline of the GDP's physical volume, devaluation of the ruble, decline in agricultural production, and management of foreign investments are evaluated.

The author predicts the financial stability of the Russian economy, focusing on the impact of the economic crisis on Russian citizens. Forecasts regarding business activities, restructuring of foreign credit and debt, and role of the Central Bank of Russia are presented.

The difficulties in stabilizing the Russian economy are examined, focusing on the government's insistence that the economy is developing steadily. Topics include an assessment of various government economic policies, effectiveness of the current tax system, attempts to suppress inflation, and government's ability to contend with unemployment and poverty.

The impact of business enterprises on the Russian economy are evaluated, focusing on the difficulties in establishing a productive market economy in Russia. Topics include corporate corrupt practices, attempts to attain economic stabilization, and the history of tax collection during communist rule.

Japan still has to learn to confront the political and economic challenges it faces especially after its bubble of prosperity burst in the early 1990s. It should be able to transform its capitalism in such a way that it becomes more responsive to people's wishes and market forces with minimal cost to equity. Furthermore, Japan has do away with the embedded rent-seeking institutions that refuse to sway with market forces and also be able to cope with people's demands for accountability of government.

The degree to which a government implements a program, given no disruptive factors, depends critically on its legitimate authority to carry out the program and the degree to which management aspects (notably management costs) of the program were satisfactorily dealt with at the design stage. Program designers should understand the nature, dimensions, justification, and basis of legitimate authority. When the government's legitimate authority is inadequate, program designers must advise the government to obtain it. A properly designed program should also include measures to speed up entry, prevent inefficient exit, and minimize unemployment and underutilization of capacity; have a framework for ensuring competitive and open markets; and arm the program manager with tools to alleviate social tensions arising from certain distributional consequences and to respond to predictable nationalistic preferences.

Analyses of the transition from state socialism to capitalism typically focus on political impediments and underestimate the economic obstacles to economic transformation. Based on a case study of the Soviety wood industry, we argue that there will be no economic transition so long as enterprises retain two historic features, namely anarchy in production and bargaining in external relations. for from constituting a revolution, the withering away of the party state has exaggerated the pathologies of the old economic order. Barter has become more important, conglomerates have strengthened their monopoly and workers have greater control of the shop floor. If there is a movement toward a market economy at all, it is toward a form of merchant capitalism that deepens economic underdevelopment and thwarts the rise of modern bourgeois capitalism.

Poland's attempt to privatize state enterprises in the aftermath of the end of Communist rule has not followed the model that reformers had planned. Employee Councils within the former state firms have retained the power to veto government decisions on the transfer of assets. Attempts to manage the privatization using macroeconomic techniques have failed to address vital institutional reforms needed at the local level. The government needs to employ a more sophisticated approach toward privatization in which its role is that of a broker of contracts instead of a redistributor of assets.

The article focuses on fiscal implications of Structural Adjustment Loans (SALs), from an a priori standpoint and by reference to the experience of five countries. Three of these countries have had revenue enhancement after trade policy reforms, and the other two cases experienced revenue depletion. The central point which emerges from the study is that it is not clear that trade liberalisation leads to fiscal enhancement or fiscal depletion. Both a priori theorising and country analyses demonstrate that a range of outcomes is possible depending upon initial conditions and the components of any reform package.

This article looks at the Stability and Growth Pact (SGP) as a case study in European integration. Applying the theoretical lenses of various European integration approaches (intergovernmentalism, domestic politics, neofunctionalism and an 'expertocratic' approach) it seeks to explain the creation of the SGP as well as its subsequent implementation. The findings show that these approaches are able to illuminate different parts of the process. The article thus argues that only an eclectic combination of the approaches provides a satisfactory theoretical explanation of the SGP as a fundamental element of the rules-based economic and monetary union (EMU) regime.

Autoregression methods indicate that finance minister Korekiyo's fiscal expansion did, in fact, help Japan recover economically.