Using country level panel data over the period 1970-2011, this paper evaluates the direct as well as indirect impact of three types of financial flows (foreign direct investment, remittances and official development aid) on the per capita income of a group of low and middle income countries. The...

This paper examines the impact of increased productivity on prices, output, real wage rate and balance of payments. Two alternative forms of productivity are considered: (1) cost saving for a given output level and (2) production increase without a direct decrease in employment. By making use of...

Using country level panel data over the period 1970–2011, this paper evaluates the direct as well as indirect impact of three types of financial flows (foreign direct investment, remittances and official development aid) on the per capita income of a group of low and middle income countries....