This study investigates the effects of exports on income per capita using a panel data set of 150 countries from 1990 to 2012. We have found that exports have differing effects on income distribution depending on different phases of economic development. As exports (measured as the percent of...

In the essay, we show how the preference of political elites for special status and power translates to an institutional structure that not only maximizes their relative share of social wealth through predation but ensure they keep as wide as possible the gap between actual development and...

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...

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...

This paper aims to investigate the long-run relationship between financial development and economic growth using panel unit root and panel cointegration analysis in 16 selected low-income countries for the period of 20 years from 1995 to 2014. The long-run relationship has been estimated using...

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...

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...

OPEC's stated mission is to promote the economic development and growth of its member states while minimizing volatility in the oil markets. But after a promising beginning many member states - economies have declined rather than prospered - a clear indication of OPEC's failure to meet their...