“What is the contribution of economic openness and the domestic economy to income?” is tested using quantity measures of trade, finance, and domestic economic base. The short answer is: “It depends”. Africa and the Americas lose from both trade and financial openness. Asia gains from...

Indonesia, Malaysia, Philippines, South Korea, and Thailand have not recouped their losses from the 1997 Asian Crisis. Unless their economic performances better than the recent trends, another economic miracle story is needed to reclaim past economic standings. Unless economic policies move in a...

Major conceptual contributions of a number of Nobel-laureates in putting forth a framework linking the citizenry's right to know and access to information with development, have already had a major influence in various fields. However, implementation of transparency-related reforms on the ground...

The diagnosis: Dutch disease caused by international remittances afflicts the middle income countries but not the upper income and low income countries. The middle income countries can inoculate their economies from getting the disease with robust macro and sectoral economy conditions. But if...

This chapter summarizes the salient results of the World Business Environment Survey (WBES). It shows that important dimensions of the climate for business operation and investment can be measured, analyzed, and compared across countries, and that governance is key to the business environment...

Building from the 2002/03 contribution to the Global Competitiveness Report ("Governance Crossroads"), this paper argues that governance continues to be at a crossroad, its underperformance being evident in most regions and across many countries. This ('governance policy gap') contrasts with the...

This paper considers the classical newsvendor model when, (a) demand is autocorrelated, (b) the parameters of the marginal distribution of demand are unknown, and (c) historical data for demand are available for a sample of successive periods. An estimator for the optimal order quantity is...

In the current technical report, we consider for the Greek road transport various policies of emission control for the period 2014-2030, and for the first time we estimate the related greenhouse gas emissions expressed in CO2 equivalent and the total costs. These policies result from the high...

In this paper we investigate the convexity of the annual total cost function for the Hadley & Whitin (1963) continuous review (Q,R) inventory model with backorders and fixed lead-time, when the reorder point is non-negative and the cost per unit backordered is used to calculate the expected...

In the classical newsvendor model, when demand is represented by the normal distribution singly truncated at point zero, the standard optimality condition does not hold. Particularly, we show that the probability not to have stock-out during the period is always greater than the critical...