Journal of Economic Development

Articles

Vol. 42, No. 4, December

Implication of Animal Feed and Water Scarcity on Labor Allocation, Food Production and per Capita Food Consumption in Tigrai Region, Ethiopia *
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONLand degradation significantly contribute directly to poverty, by reducing the availability of important environmental goods and services to poor rural households, leading to increasing the demands...
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Social Status and Inequality in an Integrated Walrasian-General Equilibrium and Neoclassical-Growth Theory *
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONSince Veblen (1899) published his The Theory of the Leisure Class, many economists have studied economic consequences of conspicuous consumption and social status. According to Veblen, people are...
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Finance and Growth Nexus: What Role for Institutions in Developed and Developing Countries?
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONThe past decades have witnessed a growing literature on the finance-growth relationship. This relation has been extensively studied since the pioneering works of Schumpeter (1911) who argued that...
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Insurance Market Development and Macroeconomic Interactions in Twenty-Six Countries *
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONThe relationship between financial sector development and economic growth has been intensively studied, and has generated many empirical studies since the 19th century. For decades, there has been...
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Foreign Capital Inflow and Skill Formation: Effects on Skilled-Unskilled Wage Inequality
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONThe recent literature on wage inequality between skilled and unskilled workers largely attributes foreign capital inflow as one of the instrumental factors behind the growing incidence of the wage...
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Vol. 42, No. 3, September

The Impact of Globalization on Inflation in Developing Countries
1. INTRODUCTIONOver the past two decades there has been significant evidence that the inflation process has been changing in various countries across the world. Inflation has become much lower and more stable, and some even argue that inflation has gradually...
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Returns to Human Capital and Wage Inequality: The Case of Taiwan
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONTwo recent Taiwan empirical studies reach different conclusions on the effect of return to education and wage inequality. Using Taiwan's Survey of Family Income and Expenditure for the 1978-1996...
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Railroad Infrastructure Investments and Economic Development in the Antebellum United States
1. introductionRailroads played a major role in the development of the antebellum United States. The availability of an expanding railroad infrastructure revolutionized the dynamics of the US economy, shattering traditional time and space barriers. Transportation...
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A Robust Analysis of the Relationship between Natural Disasters, Electricity and Economic Growth in 41 Countries
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONNatural disasters are now better known. They are well investigated and mapped both locally and global scale. Natural disasters are liable to cause serious economic and social disruption. The immediate...
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The Relationship between Financial Development and Private Investment Commitments in Energy Projects
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONIn the last decade, many countries in the developing world have experienced noticeably high economic growth while facing the challenges of rapid urbanization, demographic trends, climate change,...
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Vol. 42, No. 2, June

Mitigating Loan Repayment Troubles during Microfinance Expansion: Evidence from a Large Panel
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONOne of the core objectives of microfinance institutions (MFIs) is the provision of banking/financial services to non-traditional customers known as poor and low-income households or businesses. A...
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Foreign Direct Investment, Economic Growth, and Political Instability
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONForeign direct investment (FDI) and economic growth have attracted much attention from policy makers, development agencies, and researchers, not least because they hold huge potential of improving...
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Does Inflation Targeting Matter for Foreign Portfolio Investment: Evidence from Propensity Score Matching
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONSince the early 1990s, IT regime has been adopted by several central banks as a new monetary policy strategy. Over the years, this monetary policy strategy has become very popular, and many arguments...
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Empirical Analysis of the Relationship between Military Endeavor, Economic Growth and Happiness
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONEconomic literature is replete with references to the relationship between growth and happiness (Clark and Oswald, 1996;Frey and Stutzer, 2002; Blanchflower and Oswald, 2004). Likewise, there is...
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The Effect of Remittances upon Skilled Emigration: An Empirical Study
1.INTRODUCTIONIn addition to increasing flows of trade and capital across countries, cross-border migration has also become more prevalent over the last 30 years. According to the United Nations (2013), 232 million migrants live across the world, and...
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Vol. 42, No. 1, 2017

Economic Liberalization and the Environmental Kuznets Curve: Some Empirical Evidence
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONEconomic liberalization and environment are two major issues defining today's political agenda (Baek et al., 2009; Copeland, 2005; Copeland and Taylor, 2004). Although the theoretical backgrounds...
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Exchange Rate Volatility and Its Impact on Commodity Trade Flows between Singapore and Malaysia
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONIntroduction of floating exchange rate regime in early seventies has presented exchange rate uncertainty to traders and possibility of negative effects on trade between nations. However, theoretical...
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'Arranged' Marriage, Education, and Dowry: A Contract-Theoretic Perspective
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTION: BACKGROUNDDowry is characterised by asymmetry, uncertainty and unpredictability (Srinivas, 1989).This paper provides a framework to explore interconnections among "arranged" marriage, education,...
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Pre- and Post-Crisis Trust in Banks: Lessons from Transitional Countries
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONFollowing Coleman (1988) and Putnam's (1993) seminal papers, the concept of trust has become increasingly popular in the economics literature and many arguments have been put forward regarding the...
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Exploring Links between Fdi Inflows, Energy Consumption, and Economic Growth: Further Evidence from Mena Countries
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONThe relationship between energy consumption, foreign direct investment as well as energy consumption and economic growth has been the subject of considerable academic research over the past few...
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Vol. 41, No. 4, 2016

The Dynamics of Total Factor Productivity and Institutions
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONThe work of Solow (1957) and Abramovitz (1956) and more recent analyses (Casseli, 2005; Hall and Jones, 1999) demonstrate that total factor productivity (TFP) is the key driver of long-run income...
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Time-Varying Coefficient Taylor Rule and Chinese Monetary Policy: Evidence from the Time-Varying Cointegration
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONThe Chinese economy, known as the "China miracle", has maintained steady and fast growth for three decades, and attracts much attention from scholars and practitioners. Unlike Eastern European countries,...
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Comparative Advantage Defying Development Strategy and Cross Country Poverty Incidence
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONPoverty is the main social and economic problem in most developing countries. Most economists also agree that economic performance and level of poverty in a country are determined, to a large degree,...
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Causes and Child Health Consequences of Maternal Fertility Choices in Cameroon
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONMicroeconomic theory suggests that the greater the number of children a household has, the less is the amount of household resources that the household can devote to each child and hence the lower...
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Renewable Energy Csops: An Updated Analysis for Wind Power Applications
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONRenewable power has gained increasing importance during the last two decades, at least. Dependent on their natural prerequisites such as landscape or the climate, but also based on their predominant...
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Vol. 41, No. 3, 2016

The Different Impacts of Different Types of Natural Resources on Political Institutions in Developing Countries
1.INTRODUCTIONThere is now a large consensus that the quality of institutions is a pillar of economic development, alongside other important determinants such as geography, human capital, and openness (Knack and Keefer, 1995; Mauro, 1995; La Porta et...
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Testing the Predictability of Consumption Growth: Evidence from China
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONIn his early study, Chow (1985) reported strong evidence in favor of the Permanent Income Hypothesis (PIH) using annual observations in China from 1953 to 1982. Later, Chow (2010) re-evaluated his...
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'Davids' Are Not Small 'Goliaths': R&d and Technology Licensing in Brazilian Production
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONThe primary question that this paper addresses is whether R&D and technology licensing are substitutes or complements in production, with the related question of whether licensing in one period...
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Road Accessibility and Wealth in Rural Bhutan: A Difference in Difference Approach
1. INTRODUCTIONBhutan is a low middle-income country (World Bank, 2014) with a total Gross Domestic Product (GDP) of $897.02 million in 2013 (National Statistics Bureau [NSB], 2014a). Due to its small population base of about 720,697 (NSB, 2013), per...
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Vol. 41, No. 2, 2016

Do Literacy and a Mature Democratic Regime Cure Corruption?
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONWhy is corruption more prevalent in some countries than in others? Do mature democracies nurture less corruption than young democracies? Does an educated populace compel government to become more...
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Corruption and Emigration of Physicians from Africa
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONPhysician emigration remains one of the challenges of developing countries and gives rise to controversial debates in economic literature. Some views tend to support the beneficial effects of emigration...
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Capital Account Openness, Political Institutions and Fdi in Mena Region: An Empirical Investigation
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONWhile global cross border capital flows have risen to reach nearly $6 trillion in 2004, only a small fraction (about 6.4 percent) flows to developing countries. Researchers cannot help but ask,...
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Drivers of Private Saving in Sub-Saharan African Countries
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONThe role of saving in the growth process has long been recognized. Saving creates capital formation which is a catalyst in the growth process. For instance, the Solow-Growth model predicts that...
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Do Foreign Aid and Remittance Inflows Hurt Competitiveness of Exports of Pacific Island Countries? an Empirical Study of Fiji
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONSince their independence in the second half of the last century, the Pacific island countries (PICs)1 have been receiving generous foreign aid. Besides supplementing domestic savings, they have...
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Vol. 41, No. 1, March

The Cyclicality of Remittances in Sub-Saharan Africa
1. INTRODUCTIONThe flow of remittances to Africa in general, and sub-Saharan Africa in particular has been small relative to global remittances flows. Nevertheless, there has been a steady and significant increase in the flow of remittances into the...
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Trust, Landscape, and Economic Development
1. INTRODUCTIONThis paper examines the effect of trust on economic development. There is a growing literature that argues that trust is one of the main determinants of current economic development. According to these studies, a prerequisite for the success...
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Evolution of Monetary Policy Transmission Mechanism in Malawi: A Tvp-Var Approach
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONThe main objective of this paper is to investigate whether the monetary transmission mechanism has changed since Malawi adopted the financial reforms in the 1980s. We investigate how and when the...
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Decomposing Poverty-Inequality Linkages of Sources of Deprivation by Men-Headed and Women-Headed Households in Cameroon
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONUnderstanding of the dynamic relationship between inequality-poverty reduction and gender disparities is necessary to appreciate pathways to improve household economic welfare. Ignoring the multiple...
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Monetary, Real Shocks and Exchange Rate Variations in India
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONVariability of major world currencies in the post Britton Woods exchange rate era drew considerable attention to the economists, monetary authorities and market participants. Economists proceeded...
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Vol. 40, No. 4, December

Limited Re-Entry and Business Cycles
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONGiven the well-documented heterogeneity among both plants and firms,1 a number of recent papers have explicitly modeled the entry and exit of plants or firms for the purpose of studying macroeconomic...
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Intra-Regional Trade in Africa and the Impact of Chinese Intervention: A Gravity Model Approach
1. INTRODUCTIONChina has grown at phenomenal rates in the last few decades. However, in order to sustain these high growth rates, China needs to ensure a steady supply of natural resources like oils, minerals etc. The country's energy demands have more...
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Effects of Public Capital on Economic Growth and Productivity in Spain during the Period 1980-2007
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONThe great proliferation of empirical studies in the literature for analysing the effects of public capital on economic growth and productivity at national and international level,1 are a clear sign...
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Club Convergence across Indian States: An Empirical Analysis
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONCo-existence of extreme economic affluence and significant poverty is main paradox of the modern world. This holds true for both across and within nation. It has given birth to a prominent theme...
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Fiscal Spending and Economic Growth *
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONStruggling to overcome the global financial crisis that began in 2008, policymakers worldwide began to take increasing interest in the active role that fiscal policy could play in managing such...
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Vol. 40, No. 3, September

Heterogeneity Effects of Development Funding on Microenterprises
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONAs the potential source of growth and employment, microenterprises are essential part of development funding. Microfinance institutions and nongovernmental organizations (NGOs) have recently become...
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Bundling Competition between Multi-Product and Single-Product Firms
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONMost price theories assume that a single price is placed on each product. The market for each product arrives at the equilibrium where the unique price equalizes the demand and the supply. Regarding...
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Technology Spillover and Determinants of Foreign Direct Investment: An Analysis of Indian Manufacturing Industries
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONForeign direct investment (FDI) has been widely recognized as a growth-enhancing factor for investment receiving countries and subsequently considered to be an important component of development...
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Foreign Capital Flows, Financial Development and Growth in Sub-Saharan Africa
1. INTRODUCTIONOrthodox development perspective quite apparently delineates an important role for capital flows from richer countries as a critical component of the much-needed development finance requirement in the developing world. This North-South...
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Gender and Technology Use in Developing Countries: Evidence from Firms in Kenya
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONIt is difficult to start a firm in Kenya. Recent estimates indicate that in terms of the number of procedures required to start an enterprise, the number of procedures required to register property,...
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Vol. 40, No. 2, June

Dynamics of Growth, Poverty and Human Capital: Evidence from Indonesian Sub-National Data
The aim of this study is twofold. First, despite the vast empirical literature on testing the neoclassical model of economic growth using cross-country data, very few studies exist at the sub-national level. We attempt to fill this gap by utilizing panel...
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Foreign Direct Investment in North Korea and the Effect of Special Economic Zones: Learning from Transition Economies
This study analyzes critical factors that foreign investors would consider before investing in North Korea by empirically analyzing key FDI determinants in Central and Eastern Europe and the former Soviet Union (i.e., transition economies) and juxtaposing...
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Do Domestic Firms Really Benefit from Foreign Direct Investment? the Role of Horizontal and Vertical Spillovers and Absorptive Capacity
This paper examines whether the existence of externalities associated with foreign direct investment (FDI) benefits the domestic firms of Indian manufacturing industries. Empirical findings reveal that local firms benefit from vertical foreign presence,...
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Vol. 40, No. 1, March

Does Democracy Promote the Rule of Law?
Recent studies find that democracy increases economic growth but often do not address through what channels such an effect could travel. This study considers whether or not democracy strengthens the rule of law, an institutional measure purported to...
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Education, Health and Economic Growth in African Countries
This paper provides new empirical evidence concerning the relationship between human capital (measured by education and health related variables) and economic growth for a large sample of 49 African countries over the period from 1996 to 2010. Using...
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Varieties of Capitalism and Government Spending in Developed and Developing Countries
Empirical papers on the size of government suffer from neglecting preferences for government activity as discussed in the literature on varieties of capitalism. Cross-country evidence for a sample of 126 developed and developing countries reveals a global...
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Vol. 39, No. 1, March

Family Planning, Growth, Income Distribution: Graph-Theoretic Path Analysis of Rwanda
This paper explores macroeconomic linkages among family planning, human capital and economic growth in Rwanda. Based on a disaggregated social accounting matrix (SAM), welfare effects of alternative exogenous injections are investigated, and the high...
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The Effect of Youth Labor Market Experience on Adult Earnings
This paper investigates the effect of multiple youth jobs on adult earnings using the 1997 National Longitudinal Survey of Youth along with multiple regression specifications to identify treatment effects and a set of relatively weak nonparametric assumptions...
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Has Trade Liberalization Improved Food Availability in Developing Countries? an Empirical Analysis
It has been over two decades since governments of many developing countries have undergone the process of structural adjustment and trade liberalization. Trade liberalization has been promoted by the World Bank, International Monetary Fund, and World...
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Microfinance and the Decline of Poverty: Evidence from the Nineteenth-Century Netherlands
Applying insights from recent literature on the financial behaviour of poor households in developing countries to the nineteenth-century Netherlands, we show that micro finance type institutions failed to alleviate the country's persistent poverty for...
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Fdi-Growth Nexus in Africa: Does Governance Matter?
This study examined the effects of governance on FDI-growth nexus in Africa both at the aggregated and disaggregated level. It adopted the methodology of panel data technique to examine the interrelationship. The results showed that governance in many...
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Vol. 38, No. 4, December

On the Economic Effects of Public Infrastructure Investment: A Survey of the International Evidence
This paper provides a survey of the significant literature on the effects of public infrastructure investment on economic performance and therefore constitutes a comprehensive reference for academic researchers and policy makers alike. It presents a...
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Family Size, Human Capital and Growth: Structural Path Analysis of Rwanda
This paper analyzes the macroeconomic role that different household groups play in human capital formation, sectoral growth and income distribution in Rwanda. Using a disaggregated SAM for Rwanda and, with the assistance of structural path analysis,...
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A Simple Method for Measuring Systemic Risk Using Credit Default Swap Market Data*
This paper proposes a simple method that employs credit default swap (CDS) data for analyzing systemic risk. The proposed method overcomes inconsistency problems in existing methods and can produce various indicators of systemic risk in a consistent...
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Willful Default in Developing Country Banking System: A Theoretical Exercise
We construct a sequential game to highlight the incidence of 'willful default' in a developing country banking system where the borrowing unit underreports its true financial position and defaults willfully. Specifically, the paper deals with the implications...
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Reassessing the Effect of Fiscal and Monetary Policies in Iran: The St. Louis Equation Revisited
The purpose of this study is to observe the effect of fiscal and monetary policy actions on the Iranian economy. The famous St. Louis equation, an econometric model with lagged independent variables, is the key model for this study. Interestingly, the...
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Vol. 38, No. 2, June

Global Financial Crisis and Foreign Development Assistance Shocks in Least Developing Countries
This paper evaluates whether the exogenous component of the global financial crisis affects OECD-DAC EU donor countries ODA disbursements to the LDCs and how it impacts on LDCs economic prosperity. Using both static and dynamic panel techniques, we find...
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Financing Growth: Comparing the Effects of Fdi, Oda, and International Remittances
The world-wide emergence of remittances, in conjunction with challenges surrounding public foreign aid and the theoretical division regarding the development of FDI, prompt important questions as to whether international remittances outperform foreign...
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Remittances, Dutch Disease, and Competitiveness: A Bayesian Analysis
The paper studies symptoms of Dutch disease in the Pakistani economy arising from international remittances. An IV Bayesian analysis is carried out to take care of the endogeneity and uncertainty due to the managed float of Pakistani Rupee. We find evidence...
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Does Dollarization Alleviate or Aggravate Exchange Rate Volatility?
Relying on hard currency or dollarizing an economy has been a common practice of many developing countries taking the form of dollarizing bank deposits and loans, settling transactions in dollars and the indexation of wages and prices in dollars. The...
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Saving-Investment Nexus in Developing Countries: Does Financial Development Matter?
The Feldstein-Horioka puzzle is re-examined using a sample of 20 sub-Saharan Africa (SSA) countries. Unlike the extant literature we demonstrate the expediency of sustenance of financial sector reforms for the saving-investment nexus in SSA. Findings...
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Vol. 38, No. 1, March

Middle-Class Consensus, Social Capital and the Fundamental Causes of Economic Growth and Development
This paper analyzes a heterogeneous-agents endogenous-growth model incorporating both transaction costs and social capital. An individual can either become an active part of the society's middle-class networks of trust and mutual co-operation, thus making...
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Financial Development and Economic Growth: A New Investigation
This article applies a Bayesian dynamic factor model to examine the relationship between financial development and economic growth from a new angle. We estimate the common, country, and idiosyncratic factors that drive the dynamics and co-movement of...
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DEPENDENCE OF ECONOMIC GROWTH ON CO^sub 2^ EMISSIONS
This paper examines the effects of CO^sub 2^ emissions on GDP by using a dynamic model for panel data from 19 OECD countries. The results indicate a significant decline in the dependence of economic growth on pollution, suggesting technological progress...
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Female Autonomy in Rural North India: Impact of Economic, Social, and Political Factors
This paper attempts to answer a number of questions concerning factors which influence female autonomy as measured by mobility in rural north India (Uttar Pradesh). It is hypothesized that a female autonomy outside the home is influenced by social, economic,...
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Private Investment and Fiscal Policy in Pakistan
This paper has examined linear as well as non-linear impact of fiscal policy variables on private investment in Pakistan. The results imply that it's better to examine different aspects of fiscal policy instead of fiscal policy variables in aggregate...
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Vol. 37, No. 4, December

Seasonal Fluctuations and Economic Growth
The industrial revolution and the subsequent industrialization of the economies occurred first in temperate regions. We argue that this and the associated positive correlation between absolute latitude and GDP per capita are due to the fact that countries...
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The Rentier Predatory State Hypothesis: An Empirical Explanation of the Resource Curse
This paper introduces an empirical growth model that explains the perplexing observed growth resource regime dubbed the resource curse. The main hypothesis advanced in this paper, the rentier predatory state hypothesis, holds that under autocracy, the...
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The Volatility of the Won-Dollar Exchange Rate during the 2008-9 Crisis
This paper estimates the volatility of the won-dollar exchange rate during the 2008-9 crisis. We find that the volatility increased in September 2008 and decreased in May 2009. The volatility rose gradually for one month and subdued in a similar manner,...
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Foreign Direct Investment and Economic Growth in Arab Countries (1970-2008): An Inquiry into Determinants of Growth Benefits
This paper investigates the relationship between Foreign Direct Investment (FDI) and economic growth in a group of 16 Arab countries from 1970 to 2008. The empirical analysis also addresses the role of what are identified in the literature as local "preconditions"...
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Foreign Aid, Aid Uncertainty and Private Investment in West Africa: An Unobserved Country Effects Model
This paper examines whether foreign aid has any impact on private investment in West Africa, taking other determinants of private investment into account. Following from this, the paper investigates whether multilateral aid and bilateral aid affect private...
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Vol. 37, No. 3, September

Domestic Investment and Fdi in Developing Countries: The Missing Link
This paper investigates the impact of domestic investment on Foreign Direct Investment (FDI) to Developing Countries (DC). While the literature has provided numerous studies on the effects of FDI on growth and investment in host-country, very little...
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The Impact of Automobile Production on the Growth of Non-Farm Proprietor Densities in Alabama's Counties
This paper studies the impact of the auto industry on the growth of non-farm proprietor densities in Alabama's counties. Results show that automobile production in Alabama significantly increases non-farm proprietor in all counties. The impact of automobile...
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Does What Countries Export Matter? the Asian and Latin American Experience
The present paper examines the differences in growth performances of Asia and Latin America, in particular, the roles of trade and institutions in explaining the differential growth experiences of the two regions. In examining trade policy instruments...
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On the Mechanics of the Brain-Drain Reduction in Poorest Developing Countries
This article examines how endogenous human capital of the developed countries expressed by professors trained there and endogenous human capital of the developing countries expressed by their students, interact in the developing country's education sector...
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Examining Friedman Hypothesis on Political, Civil and Economic Freedom for Saarc Countries: A Dynamic Panel Data Analysis
This paper empirically examines the Friedman hypothesis on political, civil and economic freedom that, a country can have a high degree of civil freedom, and a high degree of economic freedom without any political freedom, but can not have any political...
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Vol. 37, No. 2, June

Institutions and Economic Development: Disentangling the Role of Contracting and Property Rights Institutions
This paper aims at estimating the effect of different types of institutions on economic development. To tackle the endogeneity problem that is prevalent, an identification strategy exploiting the heteroskedasticity in the data is used. This also allows...
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On the Growth Effects of Equity Market Liberalization
While equity market liberalization has been found to be associated with faster economic growth, such a correlation alone cannot identify the direction of causation. Using instrumental variables (IV) methodology, this paper presents empirical evidence...
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On the Economic Effects of Investment in Railroad Infrastructures in Portugal
The objective of this paper is to identify the effects of railroad infrastructure investment on aggregate and regional economic performance in Portugal. At the aggregate level, we show that railroad investment crowds in private investment and employment...
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Immigration versus Outsourcing: A Developing Country's View
This paper provides a comparative study between temporary immigration policy and product outsourcing process, from the low-income developing country's point of view, which is supply side constrained by the availability of skilled labour. A two-country...
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Vol. 37, No. 1, March

An Error-Correction Analysis of India-Us Trade Flows
The study finds that India's exports to the US have been significantly affected by GDP per capita of the US, WPI of the India and the US, and exchange rate; and India's import from the US is significantly affected the India's GDP and WPI in the long-run....
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China's Growth Story: The Role of Physical and Social Infrastructure
The paper investigates the role of infrastructure in promoting economic growth in China using ARDL and GMM techniques for the period 1975 to 2007. In this context, an attempt is made to understand growth accounting equations to investigate the impact...
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The Relationship between Good Governance and Carbon Dioxide Emissions: Evidence from Developing Economies
This paper examines the relationship between five dimensions of good governance (political stability, government effectiveness, regulatory quality, rule of law, and corruption) and carbon dioxide (CO2) emissions in a cross-section of developing countries....
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