Proponents of trade liberalization routinely defend international trade institutions as engines of economic growth that benefit everyone. How trade proponents justify trade institutions matters because their justificatory rhetoric leads to certain policy conclusions about whether it is...

This paper examines whether foreign aid contributes to attracting foreign direct investment (FDI) in aid receiving countries. Using both homogeneous and heterogeneous panel cointegration techniques, I find that the effect of foreign aid on FDI is negative. This is in contrast to previous studies...

A pivotal factor to improving the economies of developing countries is to eliminate trade barriers and increase market access. This paper examines efforts at liberalizing trade in developing countries. It explains the various multilateral trade agreements and negotiations and analyses their...

Sustainable development, a new consensus on international development that aims to protect the environment and resources for future generations, is currently promoted on a global scale, as demonstrated by the United Nation's Sustainable Development Goals (SDGs). Sustainable development is an...

Continuing the empirical debate on the effects of IMF-supported programs on participatingcountries' macroeconomic performance, we focus on the issue of whether these programsaccelerate conditional ß-convergence among low-income countries (LICs). We use anunbalanced panel dataset for 85 LICs...

This paper aims at providing an ethical framework for rebuilding, reconstructing, restructuring and revitalizing human capabilities as a means to achieve social empowerment. It strives toward conceptualizing a certain set of guidelines built upon a notion of globally common human values. Using...

Formal private property rights (“FPPRs”) have been advocated as an important prerequisite to economic development: a legal right to property ownership motivates economic players to engage in economic activities when these activities yield property interests, and this, in turn, contributes to...

Social policy is to a certain extent a philosophy, ideology, program to impact on demographics, employment of the population, standard, lifestyle and quality of life of the population, its income level and structure of consumption of material and cultural wealth, pension and other forms of...

The paper reviews the stylized facts on economic growth gathered by Easterly and Levine in their 2001 joint paper and illustrates some of the points made on the basis of data from the IMF's World Economic Outlook on real growth and per capita GDP since 1970. The data show that the growth...

In this study, the prevalent methodology for design of the industrial policy in developing countries was critically assessed, and it was shown that the mechanism and content of classical method is fundamentally contradictory to the goals and components of the endogenous growth theories. This...