Urban economists have long sought to explain the relationship between urbanization levels and output. In this paper we revisit this question and test the long run stability of a production function with urbanization using non-stationary panel data techniques. Our results show that a long run...

April 2000 - As financial liberalization progressed, the general level of real interest rates increased more in developing countries than it did in industrial countries. Volatility in wholesale interest rates also jumped, often markedly, in most liberalizing countries. Treasury bill rates and...