In an influential article Tornell and Lane (1999) considered an economy populated by multiple powerful groups in which property rights in the formal sector of production are not protected. They obtained conditions under which the groups appropriate output from the formal sector in order to...

In the context of production linkages in which downstream producers require freight services provided by transport operators, I show that the strategic choice of using an alternative transport mode does not necessarily induce lower access charges, relative to the standard transport mode....

This paper confirms recent evidence of a positive impact of aid on growth and widens the scope of evaluation to a range of outcomes including proximate sources of growth (e.g., physical and human capital), indicators of social welfare (e.g., poverty and infant mortality), and measures of...

The role of fiscal austerity has been questioned for centuries, but a rapidly increasing deficit along with the financial crisis in 2007 / 2008 influenced a renewed debate on the economics of austerity. This paper analyzes the role of austerity versus the role of economic growth. It also...

There is a debate in the literature on the appropriate methods and metrics for evaluating the economic impacts of tourism investments. Available analytical techniques include input-output modelling, computable general equilibrium modelling, cost benefit analysis, expenditure-based methods, and...

This paper empirically studies the impact of decentralization and inter-jurisdictional competition on foreign aid effectiveness. For this purpose we examine a commonly used empirical growth model, considering different measures of fiscal decentralization. Our panel estimations reveal that...

The growth of agricultural productivity is widely believed to be low. But this study finds the productivity growth rate in agriculture to be higher than that in manufacturing, both on average and for groups of countries at different stages of development. This suggests that a large agricultural...

This paper reflects on the relevance of systems - theoretic approaches to the interdependent policy issues relating to the dynamics of science, technology and innovation and their relationship to economic growth. Considering the approach that characterizes much of the current economics...

The paper starts from the premise that local development policy could be seen as a tool for effective management and usage of comparative and competitive advantages in space and time. By applying the centralized administrative model in managing society and economy, Bosnia and Herzegovina is not...