The discussion of the effectiveness of foreign aid has reached a high pitch. This paper assesses the sorry past and present key arguments for a potentially more effective and sustainable method of aid delivery. A key ingredient is to shake off the vestiges of structural adjustment and move...

Unskilled labor is the abundant resource in many developing countries, especially at an early stage of their development. Yet, even as at given technologies labor markets have not cleared, neo-classical economists have rejected the notion of an institutional or bargaining wage not based on...

This paper investigates a possible relationship among economic growth, entropy and environmental preservation. Physics shows that energy is necessary for economic production and, therefore, economic growth but the mainstream theory of economic growth, pays no attention to the role of energy....

During the 1990’s a number of essays have explored the possible effects of an European Monetary Union (EMU) in the weakest areas and the South of Italy. In particular, these studies have started a debate on the hypothesis that a common currency could help solving the “Southern Question”...

Our paper examines the long run relationship between economic growth and the current account balance equilibrium by relying on the BoP constrained growth model. We find that Vietnam grew less than the rate predicted when the period 1985 to 2010 as a whole is considered, but with different...

Access to modern energy is believed to be a prerequisite for sustainable development, poverty alleviation and the achievement of the Millennium Development Goals. However, theoretical models and empirical results offer conflicting evidence on the relationship between energy consumption and...