Indonesia has achieved one of the most impressive records in fertility reduction over the past two decades. The country's total fertility rate has declined froman estimated 5.5 in 1967 - 1970 to 3.4 in 1987. Population growth has been estimated at 2.1 percent during the eighties. Many observers...

The authors estimate that the Free Trade Agreement of the Americas (FTAA), the EU-MERCOSUR agreement, and multilateral trade policy changes will all be beneficial for Brazil. The Brazilian government strategy of simultaneously negotiating the FTAA and the EU-MERCOSUR agreement, while supporting...

Using data on mergers and acquisitions involving Korean firms, the authors identify which sectors and firms attracted foreign investment after the liberalization of investment of activity at the end of 1997. They find that domestic acquisitions are similar to foreign acquisitions by sector (of...

There is always some price that is low enough so that a debtor country gains by buying back some of its debts. Similarly, there is always some price that is high enough so that creditors gain by selling their debt claims. What is needed is a mechanism that allows trades to take place at some...

The paper presents a dynamic model for small to medium open economies operating under a fixed exchange rate regime. The model provides a partial explanation of the channels through which fiscal and monetary policy affects the real exchange rate. An empirical investigation is conducted for the...

Using a firm-level survey database covering 48 countries, the authors investigate whether differences in financial and legal development affect the way firms finance their investments. The results indicate that external financing of investments is not a function of institutions, although the...

Mixed evidence on the impact of formal title in much of Africa is often used to question the relevance of dealing with land policy issues in this continent. The authors use data from Uganda to assess the impact of a disaggregated set of rights on investment, productivity, and land values, and to...

This paper presents a case study of water vending in Onitsha, Nigeria, one of the most important market towns in West Africa. It illustrates that a rapid reconnaissance survey of water vending activities and the willingness of households to pay for improved water services can yield valuable...

The purpose of this study is to identify the best modeling platform for the analysis of alternative environmental policy instruments designed to reduce the emission of pollutants from point sources, most notably, central power generating stations and manufacturing facilities. The primary...

Many countries are reforming their economies and setting macroeconomic policies that have direct and indirect impact on the performance of the irrigation sector. One reason for the movement toward reform in the water sector across countries is that water resources are increasingly becoming a...