The planned economic development during the 40 years period (1950-91) has showed a mixed scenario. For example per annum growth in GDP during first fifteen years 1950-65 was found at 4 percent while during the period 1967-80 it declined marginally and stood at merely 3.45 percent per annum....

In many developing countries, public resource allocation is often biased against the rural population. Since a vast majority of the poor live in rural areas, the bias is highlighted as one of the most important institutional factors contributing to poverty. This paper develops a political...

This paper examines the effect of four different types of developmental aid on economic growth in Nigeria utilizing the Two-Stage Least Square (2SLS) estimation technique between 1970 and 2012. The empirical estimates show that multilateral aid had more impact on growth compared to bilateral aid...

Abstract Development of knowledge in Portugal occurred late and slowly, mainly as a result of political and institutional factors which persisted with democracy. Amongst knowledge key areas, education, research and development (R&D) and innovation advanced with frequent setbacks. This irregular...

The relevance of the Quantity Theory of Money to Developing economies is questioned. A skeptical examination of the facts upon which the theory is based, as well as of the theory itself , reveals much weakness. Indeed, it is the evidence from the developed economies that suffices to justify...

The relevance of the Quantity Theory of Money to Developing economies is questioned. A skeptical examination of the facts upon which the theory is based, as well as of the theory itself , reveals much weakness. Indeed, it is the evidence from the developed economies that suffices to justify...

This paper examines the relationship between foreign aid and growth in real GDP per capita as it emerges from simple augmentations of popular cross-country growth specifications. It is shown that aid in all likelihood increases the growth rate, and this result is not conditional on ‘good’...

This paper examines the causal relationship between tourism and economic development. Tourism is considered in two ways; number of international tourist arrivals and tourism receipts. The data are collected from the five Greater Mekong Sub-region (GMS) countries i.e. Myanmar, Cambodia, Lao PDR,...

This paper examines the causal relationship between tourism and economic development. Tourism is considered in two ways; number of international tourist arrivals and tourism receipts. The data are collected from the five Greater Mekong Sub-region (GMS) countries i.e. Myanmar, Cambodia, Lao PDR,...

Economic development means creating something in one place and destroying something in another place. The crisis started in the middle of 2007 rapidly developed and spread into a global economic shock, resulting in a number of European bank failures, declines in various stock indexes, and large...