In this paper we present a general result concerning the convergence to stochastic integrals with non-linear integrands. The key finding represents a generalization of Chan and Wei`s (1988) Theorem 2.4. and that of Ibragimov and Phillips` (2004) Theorem 8.2. This result is necessary for...

The appropriate stance of monetary policy during speculative attacks has been the source of much controversy. According to the `traditional view`, a tighter monetary policy is necessary to discourage the outflow of capital, and thus prevent the exchange rate from depreciating. The `revisionist...

The reliability of the household consumption based (Engel curve) methodology in detecting gender bias has been called into question because it has generally failed to confirm bias even where it exists. This paper seeks to find explanations for this failure by exploiting a dataset that has...

Using original survey data, we examine how insecurity affects welfare. Correcting for unobserved heterogeneity and possible endogeneity, we find a strong effect on incomes, school enrollment and health status, but no effect on infant mortality. The effect of insecurity is robust to the inclusion...

The Nordic development assistance programs have earned a reputation for commitment to human rights and democracy. Is the reputation deserved? We address this question by comparing how much aid donors give and to which recipient countries. Using a global panel data set, spanning the period...

A temporary-equilibrium model replicating institutional features of low-income agricultural economies is developed. In this model, food is held as an asset; because food production is relatively volatile, those with negative temporary income are net buyers of food. When food is the only asset,...

The paper analyses household money demand and consumption. Variables that measure shortage and expectations about its future course are introduced to capture the effects of the transition from centrally planned to market economy. The Johansen procedure is used to identify a system of the two...

The current government of Ethiopia has put agriculture at the heart of its policies. There is particular emphasis on promoting adoption of fertiliser, improved seeds and the efficiency of input marketing and distribution. In this paper we use a nationally representative data set for 1994 to...

The small arms market has received considerable attention since the end of the Cold War. Small arms may be viewed as the specific capital of rebel groups yet no statistical analysis of this market for weapons has yet taken place due to the absence of data. This paper introduces the first effort...