Measuring Nations’ Economic Performance
The Report of the Commission on Economic Performance and Social Progress
F. Gerard Adams
Pages 1 - 4
The Report of the Commission on Economic Performance and Social Progress considers the issues of establishing a broader measure of human well-being than the per capita GDP currently used. The report evaluates the possibilities for expanding the GDP concept and other measures of well-being, and for e ... Read more
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Chile: Foreign Shocks and Policy Responses
José De Gregorio
Pages 5 - 24
In 2009, the world is facing the worst recession in more than six decades. Chile has been no exception. In spite of this outlook, the Chilean economy stands on solid ground, and recent figures show that the recovery has started. This article discusses the fundamentals of the Chilean economy and how ... Read more
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The World’s Poorest Nations and the Global Financial Crisis
Nicholas Imparato & Shalendra D. Sharma
Pages 25 - 44
Unlike many earlier financial crises, the current sub-prime-induced crisis originated in advanced economies (in the US housing sector) in the summer of 2007, and rapidly mushroomed into a global financial crisis by September 2008. Developing nations, especially the ‘least developed countries’ (LDCs) ... Read more
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Dominant Currencies, Special Drawing Rights and Supernational Bank Money
Pietro Alessandrini & Michele Fratianni
Pages 45 - 68
The current international monetary system (IMS) is fragile because the dollar standard is rapidly deteriorating. The dual role of the dollar as the dominant international money and national money cannot easily be reconciled because the US monetary authorities face a conflict between pursuing domesti ... Read more
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The Systemic Regulation of Credit Rating Agencies and Rated Markets
Amadou N.R. Sy
Pages 69 - 108
Credit ratings have contributed to the current financial crisis. Proposals to regulate credit rating agencies focus on micro-prudential issues and aim at reducing conflicts of interest and increasing transparency and competition. In contrast, this paper argues that macro-prudential regulation is nec ... Read more
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Reforming the World Trade Organization
Faizel Ismail
Pages 109 - 146
This paper considers two perspectives on the future of World Trade Organization (WTO) reform. One argues that the WTO is largely a well-functioning institution and requires only incremental reforms, while the other argues that more fundamental reforms are required to correct the asymmetries of power ... Read more
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Export-led Growth via Export Platform Strategies
The impact of free trade agreements on the structure of FDI
Akinori Tomohara & Kazuhiko Yokota
Pages 147 - 160
Free trade agreements (FTAs) have the potential to impact FDI structures. Specifically, we explore when and how export platform strategies can result in export-led growth. A reduction in trade costs, including tariffs and non-tariff barriers, are likely to lead to export platform FDI. Cost advantage ... Read more
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Public Health, Advertising and Reality
Tim Ambler
Pages 161 - 180
Advertising is often blamed as the, or a, cause of public health problems such as misuse of alcohol or obesity. This paper suggests that the conclusions drawn by researchers owe more to their a priori attitudes than to an even-handed review of the evidence from both sides of the argument. The Britis ... Read more
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Book Review
Brian Sturgess on Raymond Fisman and Edward Miguel: Economic Gangsters
Pages 181 - 184
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