in terms of high investment in physical infrastructure and human capital compensated for the costs in allocative …, from infrastructure and human capital than they suffered from weak market incentives. For initially relatively rich … countries the opposite is true. Second, using various measures of physical stocks of infrastructure and human capital we show …

and policy environment. We hypothesise that more developed transportation and communication infrastructure and lower … dispersion varies positively with the regional density of highway, railroad and telephone infrastructure, but negatively with …