This paper argues that the labor transfer process outlined by the Lewis model (1954) can give rise to surplus labour - in the sense than the marginal product of labour is less that the wage - in the public part of the modern sector and that this may deprive the modern sector of its dynamism....

The authors present empirical evidence on the determinants of industry-level multifactor productivity growth. They focus on"traditional factors,"including the process of technological catch up, human capital, and research and development (R&D), as well as institutional factors affecting labor...

This paper compares the policies and economic performance of newly-industrializing countries (NICs) in the Far East and Latin America in the 1963-88 period. The two groups of countries include Hong Kong, Korea, Singapore, and Taiwan; and Agentina, Brazil, Chile, and Mexico. Information is...

The recent literature on law and finance has drawn attention to the importance of creditor rights in influencing the development of financial systems and in affecting firm corporate governance and financing patterns. Recent financial crises have also highlighted the importance of insolvency...

The author studies how well a federal antipoverty program reaches poor areas, taking the reactions of lower levels of government into account. He studies performance in reaching poor areas before and after World Bank-sponsored reforms in Argentina's anitpoverty program. Program resources were...

To shed light on regional integration schemes in North America and Europe (and on the alleged trading bloc in East Asia), the authors explore the nature of bilateral trade relationships. Using the gravity model, they conduct an econometric analysis of trade flows between major trading countries....

This paper examines the adjustment policies applied by two East Asian newly industrializing economies, Korea and Taiwan, in the period following the quadrupling of oil prices in 1973. As an introduction to the discussion, the policy performance of the two East Asian economies prior to 1973 is...

This study analyzes CO2 emissions reduction targets for various countries and geopolitical regions by the year 2030 in order to stabilize atmospheric concentrations of CO2 at the level of 450 ppm (550 ppm including non CO2 greenhouse gases). It also determines CO2 intensity cuts that would be...

Economic theory and case study evidence have long suggested that institutional factors, such as well-defined property and contract rights, may be crucial in explaining differences in economic performance across countries. Much of the recent discussion about"governance"has, for example, focused...

Equity flows to developing countries climbed to an estimated $13 billion in 1992, four times the amount invested three years earlier. Investment increased partly because countries removed restrictions on foreign ownership, liberalized capital account transactions, and generally made foreign...