Analysts often use a single average or otherwise aggregated price series to represent several geographic or product markets even when disaggregate data are available. We hypothesize that such an approach may not be appropriate under some circumstances, such as when only long-term relationships...

Satellite-detected luminosity is sometimes used to proxy for economic activity although only recently within the mainstream economics literature (Henderson et al., 2012). If this method works it holds great promise for developing countries with weak statistical systems that face difficulties in...

Why are some economies likely to grow more slowly when facing natural resource windfalls? What are the causes and consequences of the so-called natural resource curse? These are commonly asked questions in the economics literature, where different studies have address them using different...

Demographic transition due to population aging is an emerging issue throughout the developing world, and especially in China, which has undergone demographic transition more rapidly than most industrial economies. This paper quantifies the economic and distributional effects in the context of...

Several countries in Sub-Saharan Africa (SSA) embraced the structural adjustment programs (SAPs) suggested by the World Bank and the International Monetary Fund (IMF) in the 1980s. SAPs entail three main transitions: (1) from state control to market-led development; (2) from authoritarianism to...

It has been controversial among economists about the impacts of globalization on growth, and the debate over the issue has intensified in recent years. In this study, we employ reliable panel data and an empirical growth model derived from production theory to investigate the effects of...