We investigate, both theoretically and empirically, how the negative effects of government corruption on economic growth are magnified or reduced by capital account liberalization. Our model shows that highly corrupt countries impose higher tax rates than do less corrupt countries, thereby,...

Policymakers in the developed and developing countries already heading toward medical tourism to stimulate economic growth. Nonetheless, the actual impact of medical tourism on economic growth remains ambiguous. Although medical tourism may spur economic growth via its impact on foreign currency...

The three decades of armed struggle, the subsequent drought, and deliberate policies of neglect and mismanagement by the last two regimes in Eritrea made growth of the Eritrean economy practically impossible. After independence, the country achieved a steady growth for some years. However, due...

Food security is about ensuring that all people at all times have both physical and economic access to the basic food they need. In a number of African countries chronic malnutrition and transitory food insecurity are pervasive. Like most African countries, Eritrea is also a victim of the...

The development of money is an abstract of the history of civilization. Financial institutions encourage saving habit among the people by receiving deposits from the public in various forms. The Axumite kings were the first to mint coins in the African Continent. The aim of this paper is to...

The ongoing national reconstruction process of Eritrea is centered on educational reformation. The government of Eritrea placed educational policy on top priority for national development which demands the emergence of new class of trained youth blended with disciplined minds and skills instead...

This study attempts to examine the dynamic relationship between private domestic investment (PDI), the user cost of capital, and economic growth in Malaysia over the period of 1970 to 2009. Johansen cointegration test suggests that PDI, the user cost of capital, and economic growth are...

We develop a dynamic general equilibrium growth model with infinitely lived heterogeneous agents to describe a self-fulfilling financial crisis accompanied by an asset bubble burst as a rational expectations equilibrium. Because of financial market imperfections, asset bubbles appear under mild...