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Methodological Issues In Monetary Economics, Bernard Gauci

Doctoral Dissertations

The application of the work of I. Lakatos to economics suggests that the neo-Walrasian monetary model is generated from a neoclassical microeconomic research program, as is the rational expectations hypothesis. At the macroeconomic level, there are competing Keynesian and conservative programs. The latter contains monetarism as a constituent set of theories.

Methodological and policy-related debates reflect competition between these three programs. Despite the similarity between the policy recommendations of monetarism and the rational expectations hypothesis, their theoretical apparatus--dictated by the positive heuristic of their respective programs--are substantially different. Monetarism shares its macroeconomic equipment with Keynesianism, but the two differ in …

Relative Impact Of National And Foreign Savings In The Process Of Economic Growth: The Case Of Senegal, Abdoul Aziz Dia

Doctoral Dissertations

The basic questions we address in this dissertation are the following: What was the relation between national savings and foreign savings during the 1960-1976 period for Senegal? What was the relative contribution of these two types of financing to economic growth?

A review of the literature reveals the coexistence of two main hypotheses. The first one stipulates that foreign financing and domestic financing are substitutes, whereas, the second one claims that they are, at the best, complements.

Numerous empirical studies using single equation models support the substitutability hypothesis. In other terms, they show a negative relationship between national and external …