This paper presents an econometric model that combines macroeconomic time series data with historical series relating to political instability in Israel during the Intifada period, in order to provide a conservative estimate of the extent to which variations in economic performance over time...

In this paper, we formalize the idea of human capital as the ability to follow and enforce the rules necessary for orderly conduct of economic transactions. People in the US and other developed countries stand in lines while waiting for the bus, etc., while in many developing countries lines...

This study builds on the existing literature by investigating the long-run locational determinants of FDI flows to Pacific Asia under the broad categories of cost-related, investment environment improving, macro-economic and the political ideology factors of the host country.

Growth in the pacific Rim countries has become the focus of much interest for both governments and economists. This paper has been partly prompted by that fact but also but also by the newly-percieved role of the FdI especially when viewed in the light of endogenous growth theory. A small,...

In this paper, we attempt to establish whether FDI has directly induced long-run effects on output in a selection of APEC countries or whether such an influence, if any, has been transmitted indirectly through spillover effects.

In this paper we present a dynamic general equilibrium model to investigate how different contracting modes based on formal and relational enforcements endogenously emerge and are dynamically linked with the process of economic development. Formal contracts are enforced by third party...

The aim of this paper is to demonstrate that, especially in developing countries, changes in the real exchange rate affect both the structure of production and the income elasticities of the demand for imports and exports – and, as a result, the balance-of-payments constraint to growth in the...

In this paper, we present a dynamic general equilibrium model to investigate how different contracting modes based on formal and relational enforcements endogenously emerge and are dynamically linked with the process of economic development. Formal contracts are enforced by third-party...

The new endogenous growth theories are a very important research area for shaping the most effective policies and long term sustainable development strategies. Endogenous growth theory has emerged as a reaction to the imperfections of neoclassical theory, by the fact that the economic growth is...

We suggest that the development process of a less-developed country can be divided into two stages, which demonstrate significantly different properties in areas such as structural endowments, production modes, income distribution, and the forces that drive economic growth. The two stages of...