Chenery and Syrquin (1975) established the “stylized fact†about the evolution of the agricultural sector through the process of development, whereby agriculture’s share in national GDP tends to decline with development. Does this mean that from a policy point of view resources...

This paper employs a new global panel data set on innovation related variables to examine patterns of R&D investment across the development process. We find that R&D effort measured as a share of GDP rises with development at an increasing rate, but that several countries have experienced...

What has been the impact of the trade liberalization on the regional and industrial wage structure in Brazil? This paper attempts to shed light on the determinants of the evolution of wages during the period 1986-1999. We approach this question relying on the main insights of the new economic...

The objectives of this paper are, first, to describe the developments in Chilean financial markets at the macroeconomic level and, then, to examine their effects at the level of firms. After reviewing the main government policies towards financial markets in the last three decades, the paper...

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