An empirical test of a new theory of economic…

An empirical test of a new theory of economic reform using Indonesia as a case study 1988 to 2005

Abstract

Debate regarding key factors determining the success or failure of policies of liberalization and privatization, illustrates the need for a concise theoretical foundation to guide decision makers as to how, when, and where to apply policies that change underlying economic structures.  Theories of economic growth have failed to identify key factors underlying economic growth, as well as develop adequate yardsticks of development. Moreover often economic growth is taken as a measure of success without considering the underlying social development and distribution of wealth. A new theory is expounded herein and tested using Indonesian time series data. The results of the empirical tests of this theory reported herein add another dimension to the debate on emerging markets. One factor appears vital to the success of such policies. This is the education level of females. It is the only factor that appears consistently correlated with successful achievement of reform packages, measured by two new criterion of economic and social development.

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The Banking Crisis of the New Millenium – why…

The Banking Crisis of the New Millenium – why it was inevitable.

Abstract

Under the new theory of financial regulation developed by this author, collapse in the US financial system was inevitable. Removal of protective measures accompanied by failure to increase prudential measures, accompanied by conflicting State/Federal relations, barriers to entry to the real estate industry, together with regulatory confusion resulting in regulatory arbitrage, set the scene for not only erosion from within, but for transnational crime to destabilise the entire fabric of the world financial system. Understanding causes helps in rectifying the financial architecture. This article after detailing the enormous numbers of regulatory models that can exist, outlines formulas to assess the type of regulatory model that should be imposed on a system, after assessing the stage of economic and social development.

 

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Possible PPP Conference

How to apply PPPs to any field

 

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Submission to Infrastructure Australia

PUBLIC PRIVATE SECTOR PARTNERSHIPS, PUBLIC FINANCE INITIATIVES OR PRIVATISATIONS – HOW BEST TO DEVELOP INFRASTRUCTURE AND PROMOTE ECONOMIC REFORM
Debate about how best to promote economic reform through infrastructure development illustrates the need for a concise theoretical foundation as to how, when and where policies that change underlying economic structures can be applied. This paper outlines such a model, which is based on the perception of gradations in the process of development, and that the introduction of new ownership structures, market mechanisms and financing techniques are not necessarily solutions without providing for changes in economic, societal and legal infrastructures. Often privatisation is advocated as a solution to a deterioration in the industry – for instance in the supply of electricity. However this paper points out the preconditions for privatisation, and suggests that PPPs should be considered as a halfway house where those preconditions are not present.

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