This paper uses a panel approach and annual observations of over 150 countries for the period 1975 – 2000 to examine the impact of foreign aid and trade on income. The paper addresses the simultaneity of international trade, foreign aid and economic performance by using a full information...

This paper highlights the importance of institutions on development and as it particularly applies to Colombia. It provides some evidence that the institutional environment in which an economic activity takes place is an important determinant of growth. It suggests that countries with high...