This paper is a study of Danish aid policy from the early 1960s to 1995. It includes (i) a review of officially stated aims and criteria, (ii) a descriptive analysis of actual behaviour in international comparative perspective, (iii) a review of the theoretical and empirical aid allocation...

This paper studies the role of US political factors in the allocation of World Bank concessional lending, where US political interests are proxied by voting similarity in the United Nations General Assembly on issues identified as important by the US Department of State. In contrast to previous...

Two key relations in theoretical work on labor market flows are analyzed; the hiring function and the uv-curve. The relations are identified in a cointegrated VAR-model framework. The system comprising unemployment, vacancies and hirings is driven by a stochastic trend in the vacancies,...

Some methods for the evaluation of parameter constancy in cointegrated vector autoregressive (VAR) models are discussed. Two different ways of re-estimating the VAR-model are proposed; one in which all parameters are estimated recursively based upon the likelihood function for the first...

We analyse the Granger-causal relationships between foreign direct investment (FDI) and GDP in a sample of 31 developing countries covering the period 1970-2000. Using estimators for heterogeneous panel data we find bi-directional causality between the FDI/GDP ratio and the level of GDP. FDI is...

This paper investigates the marginal productivity of investment in the world’s poorest economies. The aim is to estimate the return on investments financed by foreign aid as well as by domestic resource mobilization, using crosscountry aggregate data. In practice the return on both investment...

We study the Danish unemployment experience 1905-92 using a multivariate common trends model with cointegration constraints. To interpret the empirical results we analyse a simple macroeconomic model of the labor market. The empirical results indicate that there are three cointegration relations...

In this paper we provide evidence on the survival and growth of small and medium-sized enterprises (SMEs) in Vietnam relying on three partly overlapping enterprise surveys sampled during the period 1990-2002. Our empirical results indicate that classical determinants of performance including...

The focus on results in development agencies has led to increased focus on impact evaluation to demonstrate the effectiveness of development programmes. A range of methods are available for counterfactual analysis of infrastructure interventions, as illustrated by the variety of papers in this...