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David Ricardo's Theory: Comparative Advantage

by Jean Blaise Mimbang, 50 minutes Business & Jonathan Stone

A practical and accessible guide to understanding the Theory of Comparative Advantages

The motto of the Theory of Comparative Advantage formulated by David Ricardo is: specialize to rule.In fact, as we all live...


Collision and Collusion

by Janine R. Wedel

When the Soviet Union's communist empire collapsed in 1989, a mood of euphoria took hold in the West and in Eastern Europe. The West had won the ultimate victory--it had driven a silver stake through the heart...


The Primary Sector in Economic Development (Routledge Revivals): Proceedings of the Seventh Arne Ryde Symposium, Frostavallen, August 29-30 1983

by Mats Lundahl

It is a major problem for less developed countries to make their primary sectors sufficiently profitable in order to be able to build up their manufacturing and service sectors. This edited collection, first...


Solomon Islands: Fourth Review Under the Extended Credit Facility Arrangement and Request For Modification of Performance Criteria-Staff Report; Press

by International Monetary Fund. Asia Dept

KEY ISSUES Recent Developments and Outlook. Solomon Islands held its parliamentary elections on November 19, 2014 and elected a new government led by Prime Minister Manasseh Sogavare, representing the Democratic...


West African Economic and Monetary Union: Selected Issues

by International Monetary Fund. Afri Dept.

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after...


West African Economic and Monetary Union-Common Policies of Member Countries-Staff Report; Press Release; and Statement by the Executive Director

by International Monetary Fund. Afri Dept.

KEY ISSUES Context. The region continued to experience strong growth in 2014, led by the continued economic expansion in Cote d’Ivoire. The outlook is for further strong growth, subject to a range of downward...


Hungary: Technical Assistance Report-Operational Aspects of Establishing an Asset Management Company

by International Monetary Fund. Department

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after...


A Simple Multivariate Filter for Estimating Potential Output

by Patrick Blagrave & Roberto Garcia-Saltos

Estimates of potential output are an important ingredient of structured forecasting and policy analysis. Using information on consensus forecasts, this paper extends the multivariate filter developed by Benes...


Pakistan:Sixth Review Under the Extended Arrangement and Modification of Performance Criteria-Staff Report; Press Release; and Statement by the Execut

by International Monetary Fund. Midd Dept.

EXECUTIVE SUMMARY Extended Arrangement under the Extended Fund Facility (EFF): A 36 month, SDR 4,393 million (425 percent of quota) Extended Arrangement under the EFF was approved by the Executive Board on September...


Central and Eastern Europe:New Member States (NMS) Policy Forum, 2014, Staff Report on Cluster Consultations-Common Policy Frameworks and Challenges

by International Monetary Fund. Euro Dept.

KEY ISSUES 2014 marked the tenth anniversary of accession to the EU of the first group of Central and Eastern European (CEE) countries. The first NMS Policy Forum was launched in the fall of 2014 as a platform...


Macroprudential Policy and Labor Market Dynamics in Emerging Economies

by Alan Finkelstein Shapiro & Andres Gonzalez

Emerging economies have high shares of self-employed individuals running owner-only firms who, in contrast to many salaried firms, have little access to formal financing and therefore rely on informal financing...


Hungary:2015 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Hungary

by International Monetary Fund. Euro Dept.

This 2015 Article IV Consultation highlights that the Hungarian economy is growing at a strong pace helped by accommodative macroeconomic policies and improved market sentiment. Driven by strong domestic demand,...


Jamaica:Seventh Review Under the Extended Fund Facility and Request for Modification of Performance Criteria-Staff Report; Press Release; and Statemen

by International Monetary Fund. West Dept.

This paper discusses Jamaica’s Seventh Review Under the Extended Fund Facility and Request for Modification of Performance Criteria. Risks to the program are slowly waning but remain high. Notwithstanding...


Hungary:Selected Issues Paper

by International Monetary Fund. Euro Dept.

This Selected Issues paper assesses the efficiency of public spending on health and education in Hungary, with a view to identifying potential efficiency gains and areas for reforms so as to lock in such gains....


United States:Financial Sector Assessment Program-Detailed Assessment of Observance on the Insurance Core Principles

by International Monetary Fund. Department

This paper discusses key findings of the Detailed Assessment of Observance of the Insurance Core Principles on the United States. The assessment finds a reasonable level of observance of the Insurance Core Principles....


Qatar:Selected Issues

by International Monetary Fund. Midd Dept.

This Selected Issues paper discusses strengthening of fiscal policy and fiscal frameworks in Qatar. It proposes ways to ensure that sustainable fiscal policy is maintained in the medium to long term in Qatar....


Qatar:2015 Article IV Consultation-Staff Report; and Press Release

by International Monetary Fund. Midd Dept.

This 2015 Article IV Consultation highlights that Qatar is implementing an ambitious diversification strategy, while retaining its systemic role in the global natural gas market. Qatar accounts for one-third...


United States:Financial Sector Assessment Program-Detailed Assessment of Implementation on the IOSCO Objectives and Principles of Securities Regulatio

by International Monetary Fund. Department

This paper discusses key findings of the Detailed Assessment of Implementation of the IOSCO (International Organization of Securities Commissions) Objectives and Principles of Securities Regulation on the United...


Frontiers of Monetary Policymaking:Adding the Exchange Rate as a Tool to Combat Deflationary Risks in the Czech Republic

by Ali Alichi & Jaromir Benes

The paper first describes how the Czech National Bank (CNB) moved gradually from a fixed exchange rate regime to the frontiers of Inflation-Forecast Targeting. It then focuses on the CNB’s recent experience...


Assessing China's Corporate Sector Vulnerabilities

by Mali Chivakul & Raphael W. Lam

This paper documents and assesses the risk stemming from rising corporate indebtedness in China using a firm-level dataset of listed firms. It finds that while leverage on average is not high, there is a fat...