The present paper investigates whether tourism specialization is a viable strategy for development. We estimate standard growth equations augmented with a variable measuring tourism specialization using instrumental variables techniques for a large cross-section of countries for the period...

This paper analyses economic implications and the transmission mechanisms of different options for creating and using fiscal space. For creating fiscal space, we consider prioritizing expenditures, raising revenue, and scaled-up aid. Fiscal space is used for increasing health and education...

Intro -- Contents -- I. INTRODUCTION -- II. STRUCTURE OF THE ECONOMY -- III. TRENDS IN GDP AND PER CAPITA GDP GROWTH -- IV. GROWTH ACCOUNTING AND TOTAL FACTOR PRODUCTIVITY -- V. IMPLICATIONS FOR MEDIUM-TERM GROWTH -- VI. DETERMINANTS OF PRODUCTIVITY IN PAPUA NEW GUINEA -- VII. SUMMARY AND...