This paper studies the remittances' effect on economic growth. Using panel data techniques, the authors estimate several specifications to provide support of such relationship for MENA countries over the period 19802009. The findings provide new robust evidence on how remittances are used in...

This paper aims to assess the relationship among fiscal variables (government revenue and expenditure) in Sub-Saharan African countries. Using yearly data for the period between 1980 and 2011 in fifteen ECOWAS countries, a weak long-run relationship between government expenditure and revenue...

Nach dem sogenannten PISA-Schock wird insbesondere in Deutschland intensiv diskutiert, wie die Qualität der schulische Ausbildung verbessert werden kann. Dabei herrscht die Überzeugung vor, dass die Qualität der schulischen Ausbildung eine wichtige Determinante des langfristigen...

After the communist regimes collapsed throughout Eastern Europe and the former Soviet Union, they were replaced (at least initially) by relatively wide-ranging democracy. Measured by the indices of political freedom and civil liberties published by the Freedom House (see the Technical Annex for...

Today there are many questions about the nature and the future of the so-called 'new economy'. The term 'new economy' itself has acquired a variety of quite different connotations. For many commentators, it continues to refer primarily to the altered macroeconomic performance of the US economy...

This paper discusses the different functions that capital markets and banks have in economic development, and it reviews the debate about marketbased vs. bank-based financial systems. Using data for a sample of 40 countries over the period 1975-98, the paper then shows that variation in both...