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Various arguments have been used to explain Sub-Saharan Africa's economic decline. We find that a stress on investments in education as a prerequisite for more rapid growth is misplaced; that greater openness is far from sufficient to insure economic progress; that income inequality and urban bias...
Persistent link: https://www.econbiz.de/10013222904
This paper develops a decision-theoretic approach to policy analysis. We argue that policy evaluation should be conducted on the basis of two factors: the policymaker's preferences, and the conditional distribution of the outcomes of interest given a policy and available information. From this...
Persistent link: https://www.econbiz.de/10013226952
Following its opening to trade and foreign investment in the mid-1980s, Mexico's economic growth has been modest at best, particularly in comparison with that of China. Comparing these countries and reviewing the literature, we conclude that the relation between openness and growth is not a...
Persistent link: https://www.econbiz.de/10013135399
A growing literature relies on natural experiments to establish causal effects in macroeconomics. In diverse applications, natural experiments have been used to verify underlying assumptions of conventional models, quantify specific model parameters, and identify mechanisms that have major...
Persistent link: https://www.econbiz.de/10013021490
The empirical analysis in quot;International Ramp;D Spilloversquot; (Coe and Helpman, 1995) is first revisited by applying modern panel cointegration estimation techniques to an expanded data set that we have constructed for the purpose of this study. The new estimates confirm the key results...
Persistent link: https://www.econbiz.de/10012759295
crises export relatively more FPI than FDI, and (2) this effect strengthens as the source country's capital market … transparency worsens. To test these hypotheses, we apply a dynamic panel model and examine the variation of FPI relative to FDI for …
Persistent link: https://www.econbiz.de/10012759578
FDI investors control the management of the firms, whereas FPI investors delegate decisions to managers. Therefore … expectation of future liquidity problems export relatively more FPI than FDI, and (2) this effect strengthens as the source … country's capital market transparency worsens. To test these hypotheses, we examine the variation of FPI relative to FDI for …
Persistent link: https://www.econbiz.de/10013148094
Weak institutions ought to deter foreign direction investment (FDI), and mass media stories highlight China …'s institutional deficiencies, yet China is now one of the world's largest FDI destinations. This incongruity characterizes China …'s paradoxical growth. Cross-country regressions show that China's FDI inflow is not exceptionally large, given the quality of its …
Persistent link: https://www.econbiz.de/10012753817
We test the long-standing hypothesis that ethnic groups that are organized around ‘segmentary lineages' are more prone to conflict. Ethnographic accounts suggest that in segmentary lineage societies, which are characterized by strong allegiances to distant relatives, individuals are obligated...
Persistent link: https://www.econbiz.de/10012930336
We present evidence that the traditional structure of society is an important determinant of the scope of trust today. Within Africa, individuals belonging to ethnic groups that organized society using segmentary lineages exhibit a more limited scope of trust, measured by the gap between trust...
Persistent link: https://www.econbiz.de/10012962171