In this paper Pasinetti’s model of structural economic dynamics (1981) is extended to consider international economic relations. Conditions for full employment, full expenditure of income and equilibrium of the trade balance are established for an open economy that requires capital goods to...

This paper examines the effects of income inequality in a risk sharing model with limited commitment, that is, when insurance agreements have to be self-enforcing. In this context, numerical dynamic programming is used to examine three questions. First, I consider heterogeneity in mean income,...

Human Resources in Health is becoming important in these days. The Human Resources is an important area to be addressed for better healthcare delivery. Health is a sector which depends much on the human resources compared to other sectors. The human resources is the base for carrying out the...

Hall (1978) has stimulated considerable controversy and empirical work on testing the permanent income hypothesis (PIH). Much of the empirical work is on the developed countries where opportunities for inter-temporal substitution are generally higher than in the developing countries. Therefore,...

We show that project evaluation should be based on free cash flows at nominal prices. We present a case where the results from the constant price method are biased upwards and there is a risk to accept bad projects. It is a widespread practice to evaluate projects at constant prices. With an...

This paper discusses the relationship between the quality of political and economic institutions and the performance of the infrastructure industries reform process in developing countries. Our point of departure is that, when thinking about this relationship, it is necessary to take into...

Many of the present difficulties of the world economy have been blamed on the two oil-price explosions of the 1970s. Professor Chichilnisky shows that, at least in the case of the oil-importing developing countries, the negative effects have been overestimated. In fact, in some respects the oil...

In recent years, a number of studies have shown that institutions are crucial to economic development. This literature has highlighted a relationship between the quality of the macro-institutional environment and the performance of reform policies conducted in some key sectors of the economy....

To point out the direction and focus of future international climate negotiations, this paper discusses how far developing country commitments can go in an immediate post-2012 climate regime. The paper argues that developing country commitments are most unlikely to go beyond the defined polices...

The experiences of the developed countries reveals that a good corporate governance could reduces risk, stimulates performance, improves access to capital markets, enhances the marketability of goods and services, improves leadership, increases the value of the corporations, enables the...