Counter factual policy simulations of sustained increase in public investment in infrastructure, financed through borrowing from commercial banks, shows substantial increase in private investment and thereby output in this sector. Further, due to increase in absorption, real private investment...

This paper attempts to build an aggregative, structural, macroeconometric model for India. Investment and output in the model are disaggregated into four sectors, viz., (a) agriculture including forestry & fishing, (b) manufacturing, (c) infrastructure, which includes power, transport,...

Low levels of infrastructure quality and quantity can create trade impediments through increased transport costs. Since the late 1990s an increasing number of trade studies have taken infrastructure into account. The purpose of the present paper is to quantify the importance of infrastructure...

This paper covers threes issues : first, defining and measuring inclusive growth; second, the relationship between international trade and inequality; and third, the links between infrastructure and inequality. Both international trade and infrastructure make it easier for people to exchange...

This paper covers threes issues : first, defining and measuring inclusive growth; second, the relationship between international trade and inequality; and third, the links between infrastructure and inequality. Both international trade and infrastructure make it easier for people to exchange...

This paper provides an analytic review of selected contributions to the study of institutions and economic growth. We review the contributions to the study of institutional determinants of long-run growth by Engerman and Sokoloff, and Acemoglu, Johnson and Robinson. We discuss the work of Rodrik...

This paper analyzes periods of economic stagnation in a panel of countries. We test if stagnation episodes are predicted by institutional factors and external/internal shocks, as is implied by recent theoretical contributions, and compare the impacts of these variables with those of traditional...

This paper defines economic slumps as a sequence of structural breaks exhibiting a specific pattern. We identify 58 such episodes between 1950 and 2008 among a large sample of countries, and then examine the phases of decline. In several countries declines last extremely long, and we suggest...

Numerous studies have tried to explain the poor growth performance of the Philippines. This paper critically reviews related literature on constraints to long-run growth, as it applies to the Philippines. We evaluate several factors, namely : culture; corruption; and institutions. The last offers...

It has long been realised that factor accumulation and technological development are only proximate causes of economic development, and focus has now shifted to investigating the deeper determinants of economic growth. Two such forces are highlighted in literature : institutions and geography....