Law enforcement against illegal drug markets like coca leaf production have created big debate about its consequences and effectiveness. Since this enfocerment does not only affect the illegal market but also the legal ones it is then necessary to study its effects and effectiveness within a...

Gim & Kim (1998) proposed a generalization of Jeong (1982, 1984) reinterpretation of the Hawkins-Simon condition for macroeconomic stability to off-diagonal matrix elements. This generalization is conceptually relevant for it offers a complementary view of interindustry linkages beyond final or...

This paper centers on the measurement of the time-varying efficiency of foreign direct investment (FDI) in China from 1981 to 2004. I modify the standard stochastic production frontier approach to isolate the estimate of the technical efficiency of FDI. The estimations show that the FDI...

This study examines the role economic freedom plays in attracting Indian outward foreign direct investment to various countries. Investments by Indian multinationals to various continents are studied along with aggregate investment outflows. Results show that Indian outward FDI do appear to...

This paper projects the future of knowledge economy (KE) in SSA and MENA countries using the four components of the World Bank's Knowledge Economy Index (KEI): economic incentive, education, ICTs and innovation. The empirical evidence provides the speeds of integration as well as the time...

This paper tests the Nelson-Phelps hypothesis with recently developed panel cointegration tests and new cross-country datasets. The empirical results give evidence that all types of education are important for TFP growth and that there is an interaction between education and the distance to the...

This paper examines how changes in different fiscal (tax-spending) policy instruments affect economic activity and social welfare in the Greek economy. The setup is a neoclassical growth model augmented with a public sector. The government's spending instruments include public consumption,...

This paper investigates the impact of natural disasters on the long-term macroeconomic performance of a country. More specifically, we want to see whether the impact of natural disasters on economic growth is uniform across countries or it is differentiated according to the macroeconomic policy...

This paper analyzes the magnitude and determinants of capital flight from resource-rich developing countries (RRDCs) using macro-panel data from 21 countries from 1990 to 2011. Calculations reveal that capital flight from RRDCs was less serious than that experienced by some Latin American...

In this note we begin by replicate the results in “Schooling Quality in a Cross-Section of Countries” [Barro and Lee 2001, Economica 68]. Then, we go further and show that results can be different when more meaningful variables are considered. In particular, school inputs lessen their...