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It is widely accepted that small and medium enterprises (SMEs) are a powerful engine of growth and employment in many developing economies. However, little is known about the contribution of SMEs to exports in developing countries and the experience of policies to increase SME exports.
There is growing international recognition that high economic exposure, remoteness, isolation and proneness to natural disasters all have a debilitating effect on small economies, despite the fact that some of them exhibit relatively high per capita incomes. This paper presents a Commonwealth vulnerability index that is designed to quantify vulnerability, and hence provide a means to identify vulnerable states. This index can be used as an operational tool in determining whether small states should be accorded differential treatment by the international community. It is intended as an additional criterion to augment other factors, such as per capita income, which are taken into account in reaching decisions on the treatment of certain developing countries by international organisations.
An empirical investigation of financial crises during the last 800 years.
This publication is a compendium of discussions and papers presented in three regional workshops on Effective Domestic Debt Management conducted by the Commonwealth Secretariat between 1996 and 1998. The object of the workshops was to help developing countries to manage their domestic debt more effectively. It is the first in a series of publications to be produced by the Commonwealth Secretariat on debt issues.
Examines the literature on social cohesion. Presentsa range of indicators that have been used to measure social cohesion.
This publication looks at the role of Information Technology (IT) on the Globalisation process and addresses its implications on developing countries (DCs). The 10 articles address various issues related to this, including: the impact of IT on MNCs and TNCs.
At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.
Agrarian radicalism's challenge to capitalism played a central role in working-class ideology while making third parties and protest movements a potent force in politics. Thomas Alter II follows three generations of German immigrants in Texas to examine the evolution of agrarian radicalism and the American and transnational ideas that influenced it. Otto Meitzen left Prussia for Texas in the wake of the failed 1848 Revolution. His son and grandson took part in decades-long activism with organizations from the Greenback Labor Party and the Grange to the Populist movement and Texas Socialist Party. As Alter tells their stories, he analyzes the southern wing of the era's farmer-labor bloc and the parallel history of African American political struggle in Texas. Alliances with Mexican revolutionaries, Irish militants, and others shaped an international legacy of working-class radicalism that moved U.S. politics to the left. That legacy, in turn, pushed forward economic reform during the Progressive and New Deal eras. A rare look at the German roots of radicalism in Texas, Toward a Cooperative Commonwealth illuminates the labor movements and populist ideas that changed the nation’s course at a pivotal time in its history.