This paper empirically investigates the impact of trade policy on export expansion and on GDP growth in developing countries while controlling for the human capital stock and the initial level of development. By using a simultaneous system estimation we unite the approach found in the export...

The article investigates the potential impact of corruption on economic growth by examining the effect that corruption may have on several significant determinants of economic growth, namely, investment in human, private and public capital, and on governance. Our theoretical approach allows for...

As the governments of countries in Eastern Europe and the former Soviet Union continue to grapple with the challenges of transition, many significant policy developments have already taken place over the past six years, developments of interest to policymakers and economists alike. Conditions in...

The goal of this paper is to review the state of our knowledge in the economics literature on the causal relationship between fiscal decentralization and economic growth and democratic governance, whether these relationships are uni-directional or bi-directional, and to what extent there appear...

In recent years many developed countries have moved to develop their annual budget process in astrategic multi-year framework. While a common feature of multi-year budgeting approaches is theinclusion of revenue forecasts and expenditures estimates for two or three years beyond the currentyear,...

This study examines the relationship between fiscal decentralization and the functional composition of public expenditures. We develop a theoretical model based on a distance-sensitive representative agent model, some applications of the median-voter theorem, and the Tiebout choice model. In our...