China has been one of the most favorite markets in the world for the last decade. With the economic liberalization reforms starting in 1978, China¡¦s government provided for Special Economic Zones (SEZs) in a few of provinces on the coastal area (Yao et al, 1998). SEZs in China have been...

We show that Stiglitz's (1974) principal-agency theory of share tenancy does not imply, as alleged, that the optimal tenant share is less than one for risk-averse tenants nor that the share decreases monotonically with tenant risk aversion. Tenants may self insure by working harder increasingly...

WHAT IS ECONOMIC DEVELOPMENT ? Economic development means sustainable qualitative changes in the living conditions of general public in a country over a long period of time. Living condition means economic wellbeing not only in material sense but also in social sense. Conventionally per capita...

Jensen and Miller (2001) have recently demonstrated rice and noodles to be Giffen Goods among the poor in South and North China respectively. We examine whether tortillas, the main staple in Mexico, are also a Giffen Good. The large income change due to the 1995 Peso Crisis and the large...

Economists have proffered myriads of causes of the debt problem faced by less developed countries (LDCs). This paper uses the panel data technique to investigate the fundamental causes of the debt problem among primary commodity dependent LDCs. The results show a strong link between high levels...

The twin phenomena of globalization and global-warming have put human-innovation at the forefront for member countries of the Organization for Economic Cooperation and Development (OECD). Our research effort lays the foundation for monetizing creativity by listing the necessary concepts and...

The primary aim of the paper is to estimate the extent of FDI influence on domestic investment processes in Latvia. Author analyses the theoretical issues of FDI effect on capital formation process in the host economy. The results of econometric analysis of the total investment model presented...

The developing world is looking for effective, creative ideas for upscaling clean, renewable energy. No place will gain more socially, economically, and environmentally from increased access to clean, reliable energy than poor, rural areas. Biomass energy, produced from animal and crop wastes,...

This paper summarizes progress made in a DfID-funded World Bank initiative to test and develop policy-relevant, politically acceptable, quantitative indicators of governance. There are two major components involved in the process of generating indicators that are practical means of reform....

This paper builds a theory of the shape of the distribution of total-factor productivity (TFP) across countries. The data on productivity suggests vast differences across countries, and arguably even has \twin peaks". The theory proposed here is consistent with vast differences in long-run...