This paper provides an overview of the various channels through which public infrastructure may affect growth. In addition to the conventional productivity, complementarity, and crowding-out effects typically emphasized in the literature, the impact of infrastructure on investment adjustment...

The authors examine the role of governance-measured by level of corruption and quality of bureaucracy-and ask how it affects the relationship between public spending and outcomes. Their main innovation is to see if differences in efficacy of public spending can be explained by quality of...

Changes in demographics and patterns of investment in human capital are creating increased scope for international trade in professional services. The scope for mutually beneficial trade is, however, inhibited not only by quotas and discriminatory taxation, but also by domestic regulation --...

Conventional development economics has focused mainly on generating economic growth by mobilizing savings and allocating them wisely among investment opportunities. Savings (external and domestic) were to be mobilized through tax incentives, income, and interest rate policies. Their allocation...

The standard approach for fitting a Cobb-Douglas production function to micro data with zero values is to replace those values with"sufficiently small"numbers to facilitate the logarithmic transformation. In general, the estimates obtained are extremely sensitive to the transformation chosen,...

The paper empirically explores the linkages between environmental regulations and international trade flows. So far, empirical studies either have failed to find any close statistical relationship or have delivered questionable results due to data limitations. Using a comprehensive new database...

Using a comprehensive World Bank - UNCTAD data base on tariff barriers NTBs), the authors examine the incidence of Organization for Economic Cooperation and Development (OECD) trade barriers to exports of the former Soviet Union (FSU). OECD markets have grown steadily in importance in the past...

Because of politics, some economic policy reforms are adopted and pursued in the developing world, and others are delayed, and resisted. Economic reform is inherently a political act: It changes the distribution of benefits in society, benefiting some social groups, and hurting others. Social...

Although the worldwide growth in dollarization of bank deposits has recently slowed, it has already reached very high levels in dozens of countries. Building on earlier findings that allowed the main cross-country variations in the share of dollars to be explained in terms of national policies...

This study's empirical findings have positive implications for further efforts to expand East Asian regional trade and cooperation initiatives. Since the mid-1980s regional intra-trade has grown at a rate roughly double that of world trade, and at a rate far higher than the intra-trade of the...