Using a large cross-country income distribution dataset spanning close to 800 country-year observations from industrial and developing countries, the authors show that the size distribution of per capita income is well approximated empirically by a lognormal density. The null hypothesis that per...

This paper provides an empirical evaluation of the impact of infrastructure development on economic growth and income distribution using a large panel data set encompassing over 100 countries and spanning the years 1960-2000. The empirical strategy involves the estimation of simple equations for...

We study the transmission of business cycle fluctuations for developed (N ) to developing economies (S ) with a two-country, asymmetric, DSGE model with endogenous development of new technologies in N, and sunk costs of exporting and transferring the production of the intermediate goods to S....

This article reviews theories of investment behavior and examines empirical studies of investment in developing countries. The emphasis is on understanding the interactions among macroeconomic policies, structural adjustment and private investment. The article deals with the effect of exchange...

A recent, but rapidly growing, literature has focused on the impact of uncertainty and instability on the adoption of fixed investment projects, showing that if the latter are costly or impossible to reverse, uncertainty can become a powerful investment deterrent. The purpose of this paper is...