The massive empirical research on the relation between ‘outward orientation’ and economic well-being of countries has been hampered by lack of good measures of outward orientation that reflect a country’s international trade policy. A recently-constructed index of trade restrictiveness,...

Using data for about 160 countries, it is shown that, contrary to the widelyheld perceptions that have acquired the status of stylized facts, cross-country inequality in income declined, while that in life expectancy increased, during the 1990s. These changes imply unconditional...

Using panel data for 19 OECD countries covering the period 1986-1995, we find effect of general economic uncertainty on venture-capital investments to be significantly negative. The more irreversible late-stage venture-capital investments are much more adversely affected by such uncertainty than...

Role of education in the « convergence hypothesis » is explored by specifying a regression function that is quadratic in income, including a measure of average schooling of the labor force, utilizing post-War data through 1985 f or a large cr055-country sample, and entering the income variable...

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