This paper provides an empirical analysis of how the frequency and severity of terrorism affect government revenue and expenditure during the period 1970-2013 using a panel dataset on 153 countries. We find that terrorism has only a marginal negative effect on tax revenue performance, after...

This paper uses cross-section and panel data to examine the determinants of the current account. The empirics find a significant impact of the stage of development and demographic factors in the cross section. Estimating partial-adjustment and error-correction models using panel data, the paper...

This paper documents a new database of labor market regulations during 1980-2005 in 91 countries, including low-, middle- and high-income countries, and contains information on unemployment insurance systems, minimum wage regulations, and employment protection legislation. In this paper, we...

Several recent empirical studies have examined determinants of economic growth using country average (cross-section) data. In contrast, this paper employs a technique for using a panel of both cross-section and time-series data for 98 industrial and developing countries over 1960-85 to determine...

We combine some newly developed panel co-integration techniques and common factor analysis to analyze the behavior of the real exchange rate (RER) in a sample of 64 developing countries. We study the dynamic of the RER with its economic fundamentals: productivity, the terms of trade, openness,...

We develop a model to study the macroeconomic effects of public investment surges in low-income countries, making explicit: (i) the investment-growth linkages; (ii) public external and domestic debt accumulation; (iii) the fiscal policy reactions necessary to ensure debt-sustainability; and (iv)...