https://journals.econsciences.com/index.php/JEL <p>^{JEL (ISSN: 2149-2379) is published as four issues per year, March, June, September and December and all publication policies and processes are conducted according to the international standards. JEL is an international, double-blind peer-reviewed, quarterly, open-access journal published by the Journals. JEL accepts and publishes the research articles in the fields of economics, political economy, fiscal economics, applied economics, business economics, labour economics and econometrics. JEL, without depending on any institution or organisation, is a non-profit journal that has an International Editorial Board specialists on their fields. Papers which are inappropriate to its scientific purpose, scope and fields are kindly rejected. It strictly depends on the scientific principles, rules and ethical framework that are required to this qualification. <strong>Continuous Publication Model:</strong> Econsciences Journals is published under the continuous publication model.}</p> EconSciences Library en-US Journal of Economics Library 2149-2379 <a href="http://creativecommons.org/licenses/by-nc/4.0/" rel="license"><img style="border-width: 0;" src="https://i.creativecommons.org/l/by-nc/4.0/88x31.png" alt="Creative Commons License" /></a><br />This article licensed under <a href="http://creativecommons.org/licenses/by-nc/4.0/" rel="license"> Creative Commons Attribution-NonCommercial license (4.0)</a> https://journals.econsciences.com/index.php/JEL/article/view/2585 <p>This paper is a comprehensive study of the unconventional monetary policy taken by the Federal Reserve since the financial crisis of 2008, specifically on the purchases of different assets by the Fed to change medium and long-term rates.&nbsp; Included in this study are the three rounds of quantitative easing, and the two rounds of Operation Twist. A study as such is needed in order to examine if the Fed’s purchases of these various long-term assets had any effect on the financial markets in the longer term perspective since the first announcement of the first round of purchase in November 2008. While there exists a variety of literature on the effects of quantitative easing on Treasuries and mortgage backed securities, there is no single study comprising of all the large scale asset purchases by the Fed, covering their effects on all major financial assets. This study is an attempt to fill this void in current literature on quantitative easing.</p> <p><strong>Keywords.</strong> Unconventional Monetary Policy, Quantitative Easing, the Federal Reserve.</p> <p><strong>JEL.</strong> E52, E58, G14.</p> Jullian O. TAMARA Copyright (c) 2025 http://creativecommons.org/licenses/by-nc/4.0 2025-10-27 2025-10-27 12 3 116 147 https://journals.econsciences.com/index.php/JEL/article/view/2586 <p>Lebanon is currently facing a financial crisis marked by rising inflation rates and a black-market exchange rate that is significantly diverging day-by-day from the official exchange rate. In this paper, the author dives into Lebanon’s financial history and what actions undertaken by the government since the civil war have led to this crisis. After a thorough examination of the current economy, the author compares Lebanon’s present day financial crisis to the one faced by Bulgaria in the 1990s and concludes that the implementation of a currency board is a viable solution for restoring the strength of the Lebanese pound and ushering in financial stability.</p> <p><strong>Keywords.</strong> Currency board, Lebanon, Bulgaria.</p> <p><strong>JEL.</strong> E58; G01; L25.</p> Ambika KANDASAMY Copyright (c) 2025 http://creativecommons.org/licenses/by-nc/4.0 2025-10-27 2025-10-27 12 3 148 158 https://journals.econsciences.com/index.php/JEL/article/view/2587 <p>This paper seeks to answer whether the replacement of the Bahamas currency board by a central bank was a rational decision given the subsequent economic performance climate of the central bank and the Bahamian economy. The paper describes the currency board’s establishment; its switch from the pound sterling to the U.S. dollar as the anchor currency; and its replacement by a proto-central bank soon succeeded by the Central Bank of the Bahamas, which continues in existence today. Statements of the currency board from the Bahamas Gazette as well as other sources will help analyze the aforementioned periods and illustrate the effects each transition had on the economy. The paper will examine the later years of the currency board and test whether it behaved in an orthodox or unorthodox manner as well as exploring its relation to government finance.</p> <p><strong>Keywords.</strong> Bahamas; Currency board.</p> <p><strong>JEL.</strong> E59; N16; N26.</p> Philip PROKAS Copyright (c) 2025 http://creativecommons.org/licenses/by-nc/4.0 2025-10-27 2025-10-27 12 3 159 171 https://journals.econsciences.com/index.php/JEL/article/view/2588 <p><em>The Future of China's Development and Globalization</em> is an insightful collection of essays and candid discussions from various ambassadors posted in Beijing, published by the Center for China and Globalization (CCG). The volume addresses the shifting global landscape marked by post-pandemic recovery, increasing geopolitical tensions, and the growing influence of the Global South. The book's central purpose is to provide an essential diplomatic perspective on China's current state and its evolving role in the global order. It is divided into three main parts: examining the historical and current state of China’s diplomatic relations with various countries (e.g., Pakistan, Croatia, Switzerland, Sri Lanka, Spain, and the EU) , focusing on specific areas of potential cooperation such as economic governance and digital transformation , and discussing the future of global development in which China plays an essential role. The collected views underscore the necessity of maintaining open communication channels, fostering multilateralism, and ensuring China and major global powers collaborate on transnational challenges like global governance, climate change, and technology.</p> <p><strong>Keywords.</strong> China-Global Relations; Global Governance; Multilateralism; Chinese Development; Diplomatic Perspectives.</p> <p><strong>JEL. </strong>F50; O53; F02; F13; P16.</p> Scatt CARSON Copyright (c) 2025 http://creativecommons.org/licenses/by-nc/4.0 2025-10-27 2025-10-27 12 3 172 175 https://journals.econsciences.com/index.php/JEL/article/view/2589 <p>Front Matter</p> EconSciences Contact Copyright (c) 2025 http://creativecommons.org/licenses/by-nc/4.0 2025-10-27 2025-10-27 12 3 i iv