Nigeria has long been trying to learn how best to manage boom-bust cycles in global commodity prices, adopting an oil-price benchmark for annual budgets while saving revenues above the benchmark in an excess crude account in the half decade before the 2008/2009 global crisis. The crisis and its...

Industrialization has long been seen as the answer to underdevelopment and poverty. First this led countries to follow protectionist import substitution policies but as these failed developing countries have opened up to trade and FDI and tried to follow strategies of export driven...

This paper traces the rise of export-led growth as a development paradigm and argues that it is exhausted owing to changed conditions in emerging market (EM) and developed economies. The global economy needs a recalibration that facilitates a new paradigm of domestic demand-led growth....

In this multi-country study, sample countries selected from each segment of development levels are analysed in terms of demography, urbanization, economic policy, geographical location, natural resources, human capital, income distribution and several other factors. In a former study by the...

This paper assesses the relative merits and demerits of different East Asian models by placing them in a historical perspective. It re-interprets Gerschenkron's model of late industrialization, and extends it to compare East Asian economies in view of substituting and complementing models. It...

The process of "redefining" capitalism or reinterpreting capitalism ideologies in a modern context can reveal the virtues of classical economics and the ways they can help solve contemporary global problems. In Redefining Capitalism in Global Economic Development, Kui-Wai Li helps us reconsider...

The world temperature will increase at the end of the present century by about 6 °C or more. It is expected that the ice on the Antarctic continent melts within the next generations as well as the ice of Greenland. As a consequence the ocean level may raise up to even 60 meters, not only 2...

By the end of 2015, we will see a new global development agenda which will substitute the Millennium Development Goals (MDGs). If we look at the years after the adoption of the MDGs, there is no doubt that the development goals have been successful in focusing governments' attention on poverty...