The formation of a market economy is a very complex issue due to the transformation and change of the system that has developed over many decades. The problem of an economy in transition is an important issue in the modern reality of many countries and the world economy in general. The renewed...

Does aid contribute to human development other than by increasing growth? In doing so, is aid more or less effective in poorer countries (those with low levels of aggregate welfare)? This paper addresses these issues, assessing if there is cross-country aggregate evidence for an effect of aid on...

We examine the impact of geo-referenced World Bank development programs on subnational development using equally sized grid cells with a spatial resolution of 0.5 decimal degrees latitude x longitude as the unit of investigation. The proposed grid cell approach solves a number of endogeneity...

Economic theory proposes that FDI is one of the primary driving forces for stimulating growth (Barro and Sala-i-Martin, 1995). Researchers still debate whether the interpretation of the direct effect of FDI on economic growth is inconclusive, whereas the significance of the absorptive capacity...