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Full-Text Articles in Political Economy

Introducing: The Survey Of Professional Forecasters, Dean D. Croushore Nov 1993

Introducing: The Survey Of Professional Forecasters, Dean D. Croushore

Economics Faculty Publications

Forecasts play a crucial role in the economy. Businesses won't hire workers as readily if they think the economy may go into a recession soon. Long-term interest rates will rise if people in the financial markets expect inflation to increase. And firms are less likely to borrow money for new investment spending today if they think interest rates will soon decline.

Forecasts are important for many decisions, but not many people have the knowledge and experience to forecast economic variables well. It makes sense, therefore, for people to rely on the forecasts of experts. One easy way to get ...


Jean Ensminger. Making A Market: The Institutional Transformation Of An African Society (Book Review), Sandra F. Joireman Jan 1993

Jean Ensminger. Making A Market: The Institutional Transformation Of An African Society (Book Review), Sandra F. Joireman

Political Science Faculty Publications

The publication of Making a Market marks yet another excellent contribution to the field from the Cambridge Series on Political Economy. Similar to the other volumes in the series, it emphasizes the interaction of political structures and institutions with economic change. Yet whereas most of the previous volumes in the series have been written by political scientists or economists, this book stands out as unique in that it is written from an anthropological perspective. Unusual as this is, the book gives an extremely sophisticated and readable application of the new institutional economics to the developing world.


Robert H. Bates And Anne O. Kruger (Eds.). Political And Economic Interactions In Economic Policy Reform (Book Review), Sandra F. Joireman, Winston Wells Jan 1993

Robert H. Bates And Anne O. Kruger (Eds.). Political And Economic Interactions In Economic Policy Reform (Book Review), Sandra F. Joireman, Winston Wells

Political Science Faculty Publications

This volume is a welcome attempt to combine extremely disparate regional literature on structural adjustment programs. The empirical research for the book was conducted in such a way as to generate truly economic hypotheses and conclusions. Bates and Krueger commissioned eight teams of researchers; each composed of at least one political scientist and an economist. The teams' initial agenda was to unravel the puzzle of why good economics means bad politics in relation to these structural adjustment programs. To meet that end, the teams were asked to investigate three phases surrounding the adjustment programs: Informed by current theories of interest ...