This paper reviews Bolivia's economic and social development over the period 1985-99, and investigates the country's future prospects for pro-poor growth using a Computable General Equilibrium (CGE) model. It turns out that past economic growth cannot be called pro-poor. Model simulations show...

Globalization increasingly involves less-developed countries (LDCs), i.e., economies which usually suffer from severe imperfections in their financial systems. Taking these imperfections seriously, we analyze how credit frictions affect the distributive impact of trade liberalizations. We find...

The paper aims to examine the role of institutions relative to economic policy and geography in explaining the differential level of development across countries over time. To that end, it attempts to construct a Development Quality Index (DQI) and an Institutional Quality Index (IQI) by using...

The paper uses nonparametric methodology to examine the role of institutions in understanding differential levels of development across countries. This technique estimates first order derivatives for every country allowing a deeper look into the impact of institutions on development. The...

This paper studies the patterns of trade and the incentives to innovate in an unequal global economy. We introduce non-homothetic preferences in a general-equilibrium model of endogenous growth and international trade between two countries, and argue that the effects of market integration on the...

We present a medium-scale dynamic factor model to estimate and forecast the rate of growth of the Spanish economy in the very short term. The intermediate size of the model overcomes the serious specification problems associated with large scale-models and the implicit loss of information of...

Transition economies that formerly were within the Soviet Union’s political and economic sphere had on the eve of the crisis much lower GDPs per capita than the EU15 or the United States, despite exhibiting higher growth. In part, increasing total-factor productivity (TFP), a ‘residual’...