Little attention has been devoted to the effects of price dispersion at local and seasonal levels on the measurement of living standards in LDCs. In particular, it is not known if a substantial share of welfare or poverty is the consequence of price differences rather than of differences in...

This paper explores the risk preferences of peasant household heads in the village of Gara Godo, Southern Ethiopia. Using experimental data, generalisations of expected utility are tested. For a number of respondents, the generalisations perform better than expected utility when assessed by...

This paper deals with the effectiveness of several alternative models of aid allocation in terms of poverty reduction. We use a model that admits the presence of diminishing returns to aid in the output and poverty functions. We shall discuss the impact of aid on poverty in a single country,...

Using data from several seasons in Rwanda, we test the indpendence between Laspeyres local and seasonal price indices and nominal living standards in Rwanda. the results show that the hypothesis of independence cannot generally be rejected in rwanda, although the choice of the adult-equivalence...

A model of portfolio capital flows is estimated for nine developing countries over the period 1980-96. The results suggest that domestic factors (changes in the investment climate in developing countries as measured by the inflation-adjusted share price index) have been more important than...