This chapter presents an analysis of pricing (and taxation) of agricultural and industrial goods in LDCs. We identify and explain the central tradeoffs involved in changing prices, in reforming prices, and in setting optimal prices. Our analysis is based on a general equilibrium model of a dual...

Developed and less developed countries differ in numerous ways. Incomes per head are different, capital stocks are different, the levels of education of their citizens differ. Whether a cause or consequence of these differences, some of the most salient differences are related to technological...

This paper explores alternative explanations of why it is that the growth rates and income levels of various countries have not converged very fast -- if at all. The paper focuses on multiple social equilibrium; circumstances under which some societies may be characterized by high levels of...