Researchers have begun to apply economic techniques initially developed to analyse the industrialised countries to analyse North-South interactions in the world economy. This volume, derived from a CEPR conference, brings together theoretical and empirical papers on fiscal, monetary and trade linkages between the North and South. The papers use the advances in the use of the major macroeconomic models to simulate global and inter-regional interactions, and to analyse the implications for the South of macroeconomic developments in the North. They also examine international policy questions in a genuinely global context, and consider the design of policy packages for the Third World (aid versus trade, growth-oriented adjustment) in an empirical context. This volume provides a useful overview of the flourishing research area relating to interactions between North and South, and highlights areas where future research is needed.

This paper provides preliminary econometric evidence suggesting that the traditional trade-based business cycle linkages between the North and the South have changed. Many countries in the South, in particular in Asia, appear to have become more resilient to cyclical movements in the North, and to have come to play a more significant role in sustaining global activity, in particular during the 1991-93 slowdown. A number of factors may have contributed to these changes: improved domestic policies and more open trade and exchange regimes; closer financial linkages with the North and a substantial increase in capital flows; a marked rise in inter-regional trade; and greater diversification of the exports of the South.

A broad yet distinctive analysis of the growing political, economic, and social gap existing between the world’s northern and southern hemispheres. Featuring papers selected by the ISA President from the 2006 annual meeting, this upper-level volume examines the genesis of the North-South divide, the ongoing policy problems between developed and lesser developed states, and how these issues influence current and future world politics. An upper-level text ideal for academic libraries, think tanks, and libraries of policy institutions Organized into three distinct focus clusters: Problems afflicting the global South -- trade, development, financial crises, structural adjustment, democratization, human rights, disease; Specific conflicts between North and South -- energy, terrorism, weak states, nuclear weapon proliferation; Solutions to reduce the North-South gap -- foreign aid programs, global media, democratization, political power in the United Nations, the emerging powers phenomenon, transnational social movements, and Northern foreign policy adjustments Tackles the tough questions likely to dominate international relations discourse for decades to come

This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.

This study examines issues of trade and policy in developing Asian economies such as Sri Lanka, Malaysia, India, Indonesia, Pakistan, South Korea, Taiwan and Thailand.

Bringing together leading names from different economic disciplines, the volume includes chapters on elections and the economy, distributional policies and constitutional design, and government and the market.