1989 was described as lsquo;annus mirabilis', and its revolutions hailed as one of the great moments in human history. In subsequent years, the re-emergence of war, genocide and terror led to re-interpretation: Europe became a dark continent, the 20th century its darkest hour. Was 1989 merely a...

Growth empirics with institutional measures is performed for 25 transition countries overthe period 1990-95. Estimation results suggest that (particularly state) institutions aresignificant for growth and, especially, foreign direct investment (FDI), the latter in turnbeing important for the...

This paper first describes the major concerns associated with SWFs, mainly revolving around state ownership and lack of transparency. It then focuses on the National Fund for the Future of Kazakhstan (the “oil fund”, or NOF) and Samruk Kazyna (SK), the holding company for state owned...

This paper first describes the major concerns associated with SWFs, mainly revolving around state ownership and lack of transparency. It then focuses on the National Fund for the Future of Kazakhstan (the “oil fund”, or NOF) and Samruk Kazyna (SK), the holding company for state owned...

During crises, governments resort to extraordinary fiscal and financial measures to mitigate the recessionary impacts of crises. These macroeconomic intervention measures along with aggregate demand and supply shocks and policy choices would affect the exporting environment of a country through...

In its first Nationally Determined Contribution (NDC) to the Paris Agreement, the Philippines committed to a GHG emissions reduction/avoidance of 75 percent for the period 2020 to 2030, referenced against a projected business-as-usual cumulative emission for the same period. However, the numbers...

I use a dynamic Solow growth model, augmented with human capital, labor-hours, and oil prices, to show that Japan’s growth in GDP/adult over 1969-2007 can be explained as a process of convergence to a world steady-state rate of 1%/year. I find that each additional year of average schooling...