This paper is an attempt to rectify some of the problems that characterize most earlier studies that seek to explain private capital flows to developing countries or, at least, to examine the subject from a different and complementary perspective. To...
Despite the fast catching-up in ICT diffusion experienced by most EU countries in the last few years, information technologies have so far delivered little productivity gains in Europe. In the second half of the past decade, growth contributions from...
This paper tests the effect of corruption on the efficiency of capital investment. Using firm-level data from the World Bank Enterprise Surveys, covering 90 developing and transition economies, we consider whether the cost of informal bribe payments...
Controversy over the aggregate impact of foreign aid has focused on reduced form estimates of the aid-growth link. The causal chain, through which aid affects developmental outcomes including growth, has received much less attention. We address this...
The emergence of a select group of developing countries as destinations for private portfolio investment in the 1990s (and the subsequent peso crisis in Mexico in 1994) has rekindled the old issues about the responsibilities and capacities public...
Despite the fast catching up in the diffusion of information and communication technologies (ICT) experienced by most EU countries in the last few years, information technologies have so far delivered few productivity gains in Europe. In the second...
In a dynamic panel data model allowing for error cross-section dependence, output volatility is found to impede sustainable development. Through a financial development channel (liquidity liability ratio), output volatility exerts a significant...
It is increasingly appreciated that improved markets for investment in equities can help promote faster economic growth. Such improvement also allows the ordinary saver to share in that growth. The past decade has seen quite extraordinary expansion...
The abundance of private capital flows confronts many emerging-market authorities with a transfer problem. They must decide whether to accept or resist the net capital inflow, or how much to accept and how much to resist. This paper aims at assisting...
This paper documents the convergence of incomes across Indian states over the period 1965 to 1998. It departs from traditional analyses of convergence by tracking the evolution of the entire income distribution, instead of standard regression and...
This paper considers the effect of corruption on the efficiency of capital investment. Using firm-level level data from the World Bank enterprise surveys, covering 90 developing and transition economies, we consider whether the cost of informal bribe...
Although Kenya avoided the disastrous plunge in real GNP that many other African countries suffered in the first half of the 1980s, standards of living of nearly all sectors of the population fell because economic growth slowed to less than half of...
This article is part of UNU’s “17 Days, 17 Goals” series, featuring research and commentary in support of the United Nations Sustainable Development...
UNU-WIDER had a busy September. We celebrated our 30th birthday with some 600 people at our three-day conference on ‘Mapping the Future of Development...
Controversy over the aggregate impact of foreign aid has focused on reduced form estimates of the aid-growth link. The causal chain, through which aid affects developmental outcomes including growth, has received much less attention. We address this...
In this paper, we review the theoretical and empirical literature on capital flight. First, we discuss the measurement of capital flight. Next, we provide information on the magnitude as well as the ‘burden’ of capital flight for a selected set of...
Part of Journal Special Issue Development Aid
Part of Book Vulnerability in Developing Countries
During the last two decades a number of emerging economies have become deeply engaged in technology-intensive production. This has been reflected in their international trade specialization shifting from labour-intensive goods towards capital...
This paper addresses the nature of the demand schedule for emerging market assets in both its macroeconomic and microeconomic dimensions. The former is usually analysed in terms of the ‘push factors’ (such as interest rates or contagion) determining...
This paper explores the complementary use of two instruments to manage capital-account volatility in developing countries: capital-account regulations and counter-cyclical prudential regulation of domestic financial intermediaries. Capital-account...
This paper reviews the obstacles for an appropriate financial architecture of new economy firms in developing countries by reviewing the theoretical and some preliminary empirical underpinnings of the importance of legal and institutional barriers...
Modern financial regulation has been about the spread of market-sensitive risk-management systems for banks, the spill-over of this approach to other financial institutions and the retreat of regulatory ambition. There is evidence that these trends...
This paper analyses the impact of natural disasters in the Caribbean. The economic impact of natural disasters in the region has been significant, resulting in widespread destruction of the productive economy. This paper presents the main...
This paper examines the welfare implications of foreign aid within the framework of a two-period, two-country model of international trade. It is up to the donor country to decide what fraction of any given aid package is to be made available for the...
This paper documents the convergence of incomes across Indian states over the period 1965 to 1998. It departs from traditional analyses of convergence by tracking the evolution of the entire income distribution, instead of standard regression and...
Part of Journal Special Issue Small Business, Entrepreneurship, and Violent Conflict in Developing Countries
Part of Book External Finance for Private Sector Development
Part of Book From Capital Surges to Drought
Part of Book From Capital Surges to Drought
Part of Book External Finance for Private Sector Development
Part of Book Short-Term Capital Flows and Economic Crises
Part of Book Short-Term Capital Flows and Economic Crises
The currency crises that engulfed East Asian economies in 1997 and Mexico in 1994 - and their high development costs - raise a serious concern about the net benefits for developing countries of large flows of potentially reversible short-term...
Part of Book The Rocky Road to Reform
Aid has had positive effect on growth and poverty reduction on average in the long term. There is no evidence of aid systematically increasing infl ation or reducing the amount of credit available to private industry. In general aid that is channeled...
Join the network
