This study is about the growth and development performance of non-industrialized regions in the latter part of the 20th century. We find that sustained per capita GDP growth was accompanied by structural change in terms of output and labor share shifts as well as productivity growth with (in...

Microeconomically, the case for liberalization is dubious under increasing returns to scale and when firms can invest directly in productivity enhancement. Distributional effects of commercial policy changes can be regressive and large, but the 'rents' they generate can serve as a basis for...