Openness appears to have a strong impact on economic growth especially in DCs, which typically exhibit a high share of physical capital in factor income and a low share of labor. In the neoclassical growth model with partial capital mobility, physical capital?s share in factor income determines...

We estimate changes in the productivity of schooling for six East Asian countries. Our productivity measure is based on changes in the relative price of schooling. A rising price of schooling relative to other labor-intensive service sectors should indicate declining relative schooling...

This article provides an extensive analysis of the technological specialisation of three Latin American countries (Argentina, Brazil and Mexico) and two East Asian countries (South Korea and Taiwan). Technological specialisation is measured both with respect to patents and trade flows. This...

<span style="font-size: 10pt"><span style="font-size: 10pt">This paper presents a historical and empirical account of the role played by government</span><span style="font-size: 10pt">intervention in the form of industrial policies in spurring development and growth in</span><span style="font-size: 10pt">developing countries in the last fifty years. Adopting the taxonomy proposed in Cimoli et</span><span style="font-size: 10pt">alt. (2008), it describes the set...</span></span>

The paper examines interest rates in nine Latin American and East Asian countries during the period 1987-1994. The goal is to discover why interest rates have remained high, failing to converge to U.S. levels, despite capital market liberalization and a resurgence of portfolio capital inflows...

Spillovers effects, from one country or region to other countries and regions, have attracted renewed attention in the aftermath of the Mexican crisis of December 1994. This paper uses data on closed-end country funds to study how a negative shock in Mexican equities is transmitted to Asia and...

Despite the rapid development of economic interaction between the People’s Republic of China (PRC) and Latin American and Caribbean (LAC) countries, their trade and investment ties are still in their very early stages, and the complementarily of factor endowments dominates their bilateral...