We examine the impact of inflation on financial development in Brazil and the data available permit us to cover the period between 1985 and 2002. The resultsbased initially on time-series and then on panel time-series data and analysis, and robust for different estimators and financial...

We conduct an empirical study on how 22 donors allocate their bilateral aid among 147 recipient countries over the 1970-2004 period to investigate whether recent changes in the international aid architecture-at the international and country level-have led to changes in donor behavior. We find...

This paper analyses the impact of refugee movements on emergency and development aid allocation decisions of bilateral donors in a political economic framework. We investigate two alternative hypotheses about donor motivations: first, an altruistic burden-sharing policy towards recipient...

This study presents an economic valuation of health risks of pesticides among Nicaraguan vegetable farmers. A comprehensive valuation of market and non-market value components of human health is established through farmers’ willingness to pay (WTP) for low toxicity pesticides. Results show,...

There is well-known debate about the respective role of geography versus institutions in explaining the long term development of countries. These debates have usually been based on cross country regressions where questions about parameter heterogeneity, unobserved heterogeneity, and endogeneity...

An increasing interest in poverty dynamics has lately also led to an extensive literature on the analysis of chronic poverty. Based on Amartya Sen’s groundbreaking work on capabilities and functionings static poverty measures have long used non-income indicators. In contrast, measures of...

The aim of the paper is to explore the influences of initial inequality on the long run distribution of wealth. The paper presents two mathematical models that analyse the occupational choice of individuals in the presence of capital constraints and risk in entrepreneurial activities. The models...

One of the most frequent critiques of the HDI is that is does not take into account inequality within countries. We suggest a relatively easy and intuitive approach which allows to compute the three components and the overall HDI for quintiles of the income distribution. This allows comparisons...

The paper explores the interaction between debt crises and devaluation. Since the optimal level of devaluation in a crisis depends on the level of debt that has to be serviced, a default makes a devaluation less likely. Expected devaluation depends thus on expectations about default which is...

This paper challenges the widespread belief that FDI generally has a positive impact on economic growth in developing countries. It addresses the limitations of the existing literature and re-examines the FDI-led growth hypothesis for 28 developing countries using cointegration techniques on a...