This paper investigates structural change in Argentina between 1900 and 1973.  It has been argued that trade policy under import-substituting industrialization disfavoured agriculture and led to a "technological lag" in the sector, and that this explains agriculture's relative decline during a...

The optimal reaction to a pending climate catastrophe is to accumulate capital to be better prepared for the disaster and levy a carbon tax to reduce the risk of the hazard by curbing global warming. The optimal carbon tax consists of the present value of marginal damages, the non-marginal...

The rapid rise in schooling in developing countries in recent decades has been dramatic. However, many cross-country regression analyses of the impact of schooling on economic growth find low and insignificant coefficients. This empirical `puzzle` contrasts with theoretical arguments that...

The paper estimates cross-province growth regressions for China over the period of economic reform.  It first addresses the problem of model uncertainty by adopting two approaches to model selection, Bayesian Model Averaging and the automated General-to-Specific approach, to consider a wide...

In this paper we attempt to explore some indirect determinants of China's growth success including the degree of openness, institutional change and sectoral change, based on a cross-province dataset.  The methodology we adopt is the informal growth regression, which permits the introduction of...

After a dramatic slowdown of the 1970s, productivity growth in UK manufacturing in the 1980s returned to something like its pre-slowdown trend. This paper constructs a quarterly dynamic model of TFP growth in UK manufacturing using cointegration techniques, correcting for a variety of...

This paper draws further attention to the importance of taking into account off-budget aid when estimating the degree of foreign aid fungibility.  It does so by re-evaluating the results of a recent, influential paper which concluded that health aid is fully fungible in the long run.  Allowing...

This paper surveys the most popular parametric and semi-parametric estimators for Cobb-Douglas production functions arising from the econometric literature of the past two decades. We focus on the different approaches dealing with 'transmission bias' in firm-level studies, which arises from...

We show that a combination of temporariness and spending pressure is intrinsic to the aid relationship.  In our analysis, recipients rationally discount the pronouncements of donors about the duration of their commitments because in equilibrium they know that some donors will honor those...

This paper takes a fresh look at the issue of foreign aid fungibility.  Unlike the bulk of existing empirical studies, I employ panel data that contain information on the specific purpose for which aid is given.  This allows me to link aid given for education and healt purposes to recipient...