This paper examines the null hypothesis that output series contain a unit root against the alternative of a segmented trend in a representative sample of 31 developing countries. Nearly two-thirds of the countries reject the unit root hypothesis at least once in favour of a segmented trend...

This paper estimates the effect of a measure of political risk on equity investment flows to developing countries. Using a panel data set that includes a larger number of low-income countries than previous studies, it is found that political risk is an important determinant of the sum of foreign...