There are large differences in gross domestic products by sectors among Latin American countries, and majority of these differences are due to the change in the value of industrial and service sectors. The structural reforms Latin American countries have broadly focused in five major areas...

Media pundits and some politicians would have us believe that industrial production has been declining in the United States. Some would even say that “we don't make things anymore.” However, the statistics show a different picture. This paper examines the trade statistics for the United...

This paper identifies factors associated with takeoff - a sustained period of high growth following a period of stagnation. We examine a panel of 241 stagnation episodesʺ from 146 countries, 54 % of these episodes are followed by takeoffs. Countries that experience takeoffs average 2.3% annual...

This paper analyses macroeconomic aspects of exit from aid-dependence. By 'exit from aid', we mean substantial and enduring decline over time in Official Development Assistance (ODA) as a share of Gross Domestic Product (GDP). The relevant macroeconomic variables are identified by systematically...

The paper integrates two mechanisms of economic growth, barriers to international spillovers and skill - biased effects on the income distribution. South Africa is an interestin g case study because of dramatic changes in international barriers over time and policy focus to productivity and...

Globalization increasingly involves less-developed countries (LDCs), i.e., economies which usually suffer from severe imperfections in their financial systems. Taking these imperfections seriously, we analyze how credit frictions affect the distributive impact of trade liberalizations. We find...

This paper develops a dynamic theory that accounts for the evolution of trade policy, underlying internal class conflicts, and output growth performance over the last few centuries. By analyzing political responses to the distributional effects of international trade, it finds a prominent...

This paper analyzes the emergence and role that the set of countries grouped in the acronym BRICS (Brazil, Russia, India, China and South Africa) can play in the global economy within the framework of the international crisis being experienced by capitalism. It is also characterized the actual...

The impact of changes in the Generalized System of Preferences of the European Union, on the EU GSP imports from beneficiary countries in ASEAN and China, and Latin America respectively, and the utilization of GSP benefits by these countries is investigated for the period 1994-2007, using model...