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Q. "Trade liberalization could precede capital account liberalization." Discuss.
Answer: It is probably true. The issue is associated to the theory of second best and the proper sequence of reform measures.
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Q. Explain why the oil price shocks after 1973 made countries unwilling to revive the Bretton Woods system of fixed exchange rates. Answer: Using the GG - LL framework
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Q. It can be argued that Japan's explicit promotion of its microchip industry was an excellent paradigm of successful industrial policy. What criteria could you apply to calculat
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