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Marlborough's America
Scholars of British America generally conclude that the early eighteenth-century Anglo-American empire was commercial in economics, liberal in politics, and parochial in policy, somnambulant in an era of “salutary neglect,” but Stephen Saunders Webb here demonstrates that the American provinces, under the spur of war, became capitalist, coercive, and aggressive, owing to the vigorous leadership of career army officers, trained and nominated to American government by the captain general of the allied armies, the first duke of Marlborough, and that his influence, and that of his legates, prevailed through the entire century in America. Webb’s work follows the duke, whom an eloquent enemy...
Benefit Incidence Analysis in Developing Countries
Benefit incidence analysis offers an important perspective on budgets and can illuminate the distributional impacts of proposed reallocations of government resources among projects.
Financial Liberalization and Adjustment in Chile and New Zealand
Liberalization of the capital account does not eliminate volatility. Rather, it shifts it from the domestic interest rate to the real exchange rate.
Tariff Index Theory
The Trade Restrictiveness Index is shown to provide a summary measure of the welfare costs of protection that is related, but preferable, to traditional measures such as the average tariff and the coefficient of variation.
Development Digest
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How Effective are Directed Credit Policies in the United States?
U.S. policy on directed credit has a limited impact on growth - partly because it is oriented more toward equity than growth. U.S. credit programs have generally succeeded in increasing credit to, but not necessarily in increasing investment by, the targeted group.
