The economic and financial development are examined in Algeria, Egypt, Iran, Israel, Jordan, Kuwait, Lebanon, Morocco, Oman, Saudi Arabia, Syria, Tunisia, Turkey, United Arab Emirates, and Yemen, representing the Middle East and North Africa region. Lengthy bureaucratic procedures, unclear...

This paper aims at determining the role and impact of saving, investment and capital formation in economic development of Nepal. The macro economic variables are introduced vide an extension of the econometric model, which explicitly included Almon's (1965) Polynomial Lag Model. The empirical...

When the OECD Development Centre launched research in 2005 to document the economic, political and social impacts of China's and India's economic growth on sub-Saharan African (SSA) countries, the arrival (or resurgence) of new important players had triggered concerns among traditional donors....

Comparisons of India and China have been made for over 50 years. This paper focuses on purchasing power estimates in China and India in the 2005 round of the UN International Comparison Programme (ICP) that was coordinated by the World Bank, the Regional Banks and Economic Commissions. The 2005...

This essay develops a theory of the evolution of international income levels. In particular, it augments the Hansen-Prescott theory of economic development with the Parente-Prescott theory of relative efficiencies and shows that the unified theory accounts for the evolution of international...

One of the most outstanding features of the trend toward globalization has been the increased importance of foreign direct investment (FDI) flows around the world. This study estimates the determinant of FDI flows using the gravity equation, controlling for the importance of both the traditional...

This paper characterizes the optimal path of foreign public debt that can support politically unanimous (Pareto welfare improving) economic growth under uncertainty. The feasibility of the plan depends on whether the maintenance of political consensus in the debtor country requires additional...

This chapter develops a theory of the evolution of international income levels. In particular, it augments the Hansen–Prescott theory of economic development with the Parente–Prescott theory of relative efficiencies and shows that the unified theory accounts for the evolution of...

The new growth literature, using both endogenous growth and neoclassical models, has generated strong claims for the effect of national policies on economic growth. Empirical work on policies and growth has tended to confirm these claims. This paper casts doubt on this claim for strong effects...