In theory, market failures are necessary but not sufficient conditions for justifying government intervention in the production of goods and services. Even without market failures, there might be a case for government intervention on the grounds of poverty reduction or merit goods (for example,...

The paper presents a cost-benefit analysis of a higher education project in Mauritius by using the rate of return and net present value methods, from the individual student and society's point of view. Although there exists a very rich literature on cost-benefit analysis of an education sector...

These comments are in reference to Nathaniel Leff's article entitled “Multinational Corporate Pricing Strategy in the Developing Countries.”Professor Leff suggests that marketing executives should reduce the price of a company's products in order to earn higher profits. In defense of this...

The debate on whether natural disasters cause significant macroeconomic impacts and indeed hinder development is ongoing. Most analyses along these lines have focused on impacts on gross domestic product. This paper looks beyond this standard national accounting aggregate, and examines whether...