One of the most pressing issues concerning policymakers today is the choice of an exchange rate regime. Despite the intricacies of this problem, monetary authorities could narrow down their list of options if they were to ...

This article investigates monetary policy effectiveness in Pakistan in the presence of external uncertainties stemming from the economic growth of developed economies and international oil price movements. We estimate a ...

This paper makes the case for Pakistan to engage actively in globalization. At present, the country is more a recipient of globalization than a participant. There is a need to shift the terms of engagement from passive to ...

Using a structural vector autoregressive model, this study investigates the extent to which international oil price shocks have influenced the Chinese economy over the period 1991–2014. Given China’s intensified macroeconomic ...

This article examines how better discipline can be brought to fiscal policy, first, through enhanced institutional checks and balances, and second, through better market discipline. We examine the political institutions ...

According to the Harberger-Laursen-Metzler (HLM) effect, an exogenous temporary increase in the terms of trade leads to an improvement in the current account balance. This paper uses a recursive vector autoregression to ...

An historical review of Pakistan’s trade history shows that economy had led exports more than the export led the economy. Economic growth has responded to the emphasis on domestic market rather than on trade. Economic ...

In 1995 the Republic of Korea (ROK) was officially admitted to the Organisation for Economic Cooperation and Development (OECD). This organisation groups together industrially developed countries of the world. Recently, ...