The last two decades of the twentieth century witnessed a series of financial reforms in emerging economics of Asia, Africa and Latin America. The seminal works of R.I. McKinnon and E.S. Shaw, which attribute the slow growth of these economies to financial repression, inspired many of these...

Since the highest income groups have tremendous influence over economic policy by virtue of money, position, and connection, it is important to identify the interest of these groups with regard to economic conditions. Recently, annual time series data on the shares of the very highest income...

Traditional economic theory posits that a well functioning capital market is a necessary condition for industrialization and economic growth. However, in reality it is observed that micro and small enterprises are ubiquitous because entrepreneurs can set up business in low-return activities with...

India is the second largest producer of silk and also the largest consumer of silk in the world having a strong tradition bound domestic market. In this paper, growth functions were estimated for India’s aggregate production and trade parameters using annual data from 1984/85 to 2006/07. To...

The emphasis of education as a driving force for the growth of agricultural productivity can be dated back to the early 1960s. However, most empirical work failed to take into account of the fact that production technology changes with timeand consequently obscure the true contribution of...

We analyze the correlation between farm productivity and market participation using comparable household data from Tanzania, Vietnam and Guatemala. Each farm’s input use and output levels provide a within-sample measure of relative productivity, which we relate to that household’s level of...

This paper takes a local perspective on global food price shocks by analyzing food price transmission between regional markets in Ghana. It also assesses the impacts of food price increases on various household groups. Taking the recent global food crisis as an example, we find that prices for...

Contributed Paper prepared for presentation at the International Association of Agricultural Economists Conference, Beijing, China, August 16-22, 2009

Replaced with revised version of paper 08/24/09.

This study estimates an econometric model that incorporates the linkages among agriculture, manufacturing, service and trade sectors using a vector error correction model for Poland and Romania. Three cointegrating vectors for Poland and one for Romania confirm that the different sectors in the...