This paper propose to employ the SPF approach (stochastic production frontier) to measure the technical efficiency of the country level for best economic performance, as the measure of growth is the essential practice to comprehend the roots of economic growth. It is evident from the results,...

Economic growth is perhaps one of the most important subjects in the field of economic development. This paper overview the links between institutions, economic growth, and policy settings in developing countries based on cross-country (Asia, Latin America, and Africa), for the last two decades....

We reviewed the empirical evidence for the effect of institutions on per capita GDP growth. Although several of the literature suggested institutions are the primary cause of growth; empirical evidence is somewhat inconclusive. On one hand, it partly reflects that technical limitations -...

This paper explores the effect of political institutions on economic development via its causation of economic reforms. Focusing on the causality between political institutions – democracy, specifically – and economic reforms. After all, one way of improving society's well-being is through...

This paper examines the relationship between educational inequalities to income inequality cross-countries, using Gini Coefficient and Cobb-Douglas (CD) production function. It reinforces the future vision of the literature on this subject by utilising the most recent cross-section data. We...

After the US dollar replaced gold, the US debt became attention worldwide, thus the demand for the US dollar continued, and furthermore the extremely low interest of the dollar. This helped the US government to borrow great amounts of debt as well as kept the creditors pleased. Due to the...

The performance of various monetary rules is investigated in an open economy with incomplete exchange rate pass-through. Implementing monetary policy through an exchange-rate augmented policy rule does not improve social welfare compared to using an optimized Taylor rule, irrespective of the...

FDI is an important source of capital, technology, and skills transfer for both developing and developed economies, this paper explores the effects of three determinants of bilateral FDI, including natural barriers, the “at-the-border” barrier (regional trade agreement), and the...

The differences in technical inefficiency (inefficient allocation of production inputs) explain the diverse cross-country economic performances, using estimating a “global” stochastic production frontier (SPF) model, and (Rodrik (2000)’s taxonomy of institutions), to compare the mean level...

In this paper, I constructed a worldwide novel panel model to investigate the estimation returns of the education levels using the function of the aggregate production approach of education human capital growth using the Mincerian method to acquire an equation of a log-liner, considering the...