We develop an endogenous growth model with public consumption and infrastructure services provided by two-tier governments. Growth performance and welfare implication are compared under the centralized and decentralized fiscal federal systems. In general, there is a trade-off between welfare and...

Almeria's horticulture has experienced extensive growth that is sustained by the main macroeconomic variables: an acceleration of the agricultural income, broadly-speaking, a positive commercial balance throughout the first quindenium of the century and a GDP that on the whole represents the...

The article provides a broad-based overview on competing development strategies and the economic performance of developing countries, mainly since the year 2000. Four traditional mainstream development strategies are discussed (Washington Consensus, neo-liberalism, "good governance" and MDGs)...

Income inequality is "the defining challenge of our time", former US President Barack Obama said in a speech in December 2013. Undoubtedly, the financial crisis and the sluggish recovery in its aftermath have increased the attention to rising inequality. This survey addresses the consequences of...

Some industries exhibit external economies of scale. In these cases,the introduction of self-financing tax subsidy programmes canimprove social welfare. This paper advocates intervention incompetitive markets if economies of scale existand implementing the policy is inexpensive.

El subempleo o informalidad se muestra como una verdad acuciante en las naciones en desarrollo, y el Ecuador no es una excepción, menos aún la ciudad de Guayaquil. Este estudio descriptivo pretende indagar sobre la informalidad, su realidad y sus características, y especialmente su aporte al...

India is experiencing high rate of economic growth in the last two decades but the growth has been coupled with high rate of food price inflation. The growth has been very uneven across sectors with agriculture remaining very sluggish. The increase in per capita income has significantly...

Nach dem Zusammenbruch der sozialistischen Systeme vollzogen die betroffenen Ländern Mittel- und Osteuropas in unterschiedlichem Tempo und sequencing den Weg zu Demokratie und einer marktwirtschaftlichen Wirtschaftsordnung. Die polit-ökonomischen Probleme bei der Durchsetzung der umfassenden...

The goal of this study is to identify empirically how country-level development, taking into account the financial and macroeconomic environment, affect the risk profiles of the banking sector in Europe. Through a dataset that covers 3,399 European banks spanning the period 1996-2011, and the...