This study contributes to the attendant literature by bundling governance dynamics and focusing on foreign aid instability instead of foreign aid. We assess the role of foreign aid instabilit y on governance dynamics in fifty three African countries for the period 1996-2010. An autoregressive...

Purpose- With the recent financial crisis and reduction of foreign aid by donor countries, the aid-institutions debate is shifting to how aid instability affects governance in developing countries. We engage the policy debate by assessing the role of foreign aid instability on governance...

This study complements existing literature on the aid-institutions nexus by focusing on political rights, aid volatilities and the post-Berlin Wall period. The findings show that while foreign aid does not have a significant effect on political rights, foreign aid volatilities do mitigate...

This paper establishes the financial feasibility of an employer-of-last-resort (ELR) program in a small developing country like Tunisia. It argues that an ELR-led economic development policy is vastly superior to the traditional import substitution industrialization (ISI), export-led, and...

This paper establishes the financial feasibility of an employer of last resort (ELR) program in a small developing country like Tunisia, and argues that an ELR-led economic development policy is vastly superior to the traditional import substitution industrialization (ISI), export-led, and...

External resources for a low income country have the potential of accelerating growth but also of creating Dutch Disease effects. This paper analyses the empirical impact of the most important external resources, foreign direct investment, aid, and loans, on the Bolivian economy for the period...

In 50 years, Africa has seen little progress in development. Our work analyzes a factor able to explain this singular path: the structure of financial systems. After deepening the concept of financial development and providing a better understanding of the relationship between the real and...

Scholars have typically explained the developmental performance of late-late developers through the analytical lens applied to East Asian developmental states, a lens that focuses on bureaucratic capacity and the bureaucracy's relationship with businesses and with society more broadly. In...

This paper examines the uneven convergence between Indian development cooperation and the (so-called) ‘traditional’ development establishment. Using the case of Indian government concessional lines of credit (LoCs), handled by the Export–Import Bank, it demonstrates how diplomatic,...

A general equilibrium model has been constructed in a stochastic endogenous growth economy with the capital-labor ratio driven by an Itô-Lévy diffusion process. In particular, formal definition of the minimum-time needed to economic maturity is identified in the model and closed-form solutions...