Tobacco taxation is the most effective measure to reduce cigarette consumption, and consequently improve public health outcomes. It is also an important source of government revenue. The presence of an illicit tobacco market diminishes the public health and fiscal gains of cigarette levies by...

Spanning over a century, the strong bilateral relations between the Philippines and the United States supported the country’s development through foreign direct investments, trade, and tourism. Among the tangible gains from this century-long relationship are the following:● Increased...

We study the impact of the sub-soil natural resource endowment and the supply of biocapacity on the extractive and non-extractive FDI inflows. We focus on a new panel data set of 126 countries for the period 1984-2019. Our identification strategy is based on the long lags between natural...

The present paper analyzes the cyclicality of public spending on key social, economic and military sectors, including agriculture, education, health, social protection, transportation and military spending using data available for up to 40 developing countries spanning the period from 1980 to...