This paper investigates the determinants of economic growth emphasizing the role of institutional quality, social fragmentation, and increasing global integration on recent growth experience. Our longitudinal data consists of 103 countries covering the period 1992-2005. We find that democracies...

This paper presents a survey of the literature on property rights and economic growth. It discusses different theoretical mechanisms that relate property rights to economic development. Lack of protection of property rights can result in slow economic growth through different channels:...

This paper presents an integrated overview of the literature linking institutions, financial development and economic growth. From the large body of research on institutional development, the paper first selects those contributions that make it possible to study the role of institutional...

The purpose of this paper is to establish a positive correlation between property rights and economic freedom. It seeks to demonstrate that property rights lead to economic freedom. From a purely theoretical perspective, it has been assumed that greater access to property rights leads to...

Why do governments in developing economies invest in roads and not enough in schools? In the presence of distortionary taxation and debt aversion, the different pace at which roads and schools contribute to economic growth turns out to be central to this decision. Specifically, while costs are...

As India is projected to be the world's most populous country by 2025, the growing needs of the economy, with expanding population, in the recent years have placed intense stress on physical infrastructure. In order to meet the deficit in the provision of infrastructure, mid-term appraisal of...

This paper examines the relationship between infrastructure investment activity, capital market development, the role of public institutions and economic development in the Asia Pacific. It adopts a review approach drawing on empirical evidence over recent decades. Infrastructure is shown to be...

Senegal's fiscal deficit and public debt have been on the rise in recent years owing partly to an ailing and inefficient oil-based energy sector. In this paper we use a two-sector, open-economy, dynamic general equilibrium model to investigate the effects of varying fiscal policy instruments one...

Indonesia.s infrastructure is in poor shape, having suffered from protracted under-investment since the Asian financial crisis of the late 1990s, and constraints growth potential. This paper focuses on the current state of the regulatory framework and discusses different options for improvement...

There has been a significant increase in project financing in the public sector in Europe in the past decade, benefiting the implementation of infrastructure projects. In Italy, project financing is still much more limited than in such countries as Spain and the UK: the projects funded are...