In recent years economists have recognized that, along with physical and human capital, environmental resources should be viewed as important economic assets, which can be called natural capital. However, the services provided by natural capital are unique. They include the use of resources for...

Financial crises seem to have become the norm rather than the exception since 1992. In recognition of the frequency with which countries seem to be hit by financial crises, any typical undergraduate course in Money and Banking nowadays includes a section on financial crisis in emerging...

This paper estimates the effects on production, trade and economic welfare of current trade policy regimes throughout the world on Uganda relative to other economies, as a benchmark against which to examine various multilateral and preferential trade policy scenarios that might emerge over the...

This paper provides new estimates of the global gains from multilateral trade reform and their distribution among developing countries in the presence of trade preferences. Particular attention is given to agriculture, as farmers constitute the poorest households in developing countries but the...

A study of distortions to agricultural incentives in 18 developing countries during 1960-84, by Krueger, Schiff and Valdés (1988; 1991), found that policies in most of those developing countries were directly or indirectly harming their farmers. Since the mid-1980s there has been a substantial...

This paper aims to assess the effects of aid on fiscal behavior in Indonesia. There are four main findings. First, aid inflow is primarily driven by the need to fill the fiscal gap. That is, aid is demand driven. Second, although project aid is by definition intended for development...

With the improvement of relationship with the western countries after the demise of the old order regime of President Soekarno, Indonesia received a large volume of foreign aid that played a crucial role in the recovery of the economy. Indonesia remained a significant recipient of foreign aid...

Several hydrological studies forecast a global problem of water scarcity. This raises the question as to whether increasing water scarcity may impose constraints on the growth of countries. The influence of water utilization on economic growth is depicted through a growth model that includes...