The purpose of this paper is to assess the state of corporate governance as a major factor affecting the growth performance of the private sector in MENA countries. For this purpose both country-specific assessments, carried out by World Bank-IMF teams (so-called ROSC’s assessments) and...

The concern of this paper is to highlight time use as a valuable resource and important factor in the development process of Less Developed Countries. It propounds time use,that is neglected in Development studies, as an important factor in human development index. The role of time management as...

Growth rate of real GDP per capita is represented as a sum of two components – a monotonically decreasing economic trend and fluctuations related to a specific age population change. The economic trend is modeled by an inverse function of real GDP per capita with a numerator potentially...

This paper revisits one of the classic debates on world capitalist development – the ‘transition to capitalism’ debate framed in Robert Brenner’s classic critique of World Systems and Dependency Theory. It was originally presented to the July 2007 conference of the International...

The paper proposes two axioms that capture the idea of sustainable development and derives the welfare criterion that they imply. The axioms require that neither the present nor the future should play a dictatorial role. Theorem 1 shows there exist sustainable preferences, which satisfy these...

Prepublication version of ‘When things go wrong: the Political Economy of Market Breakdown’ in Westra; R and Alan Zuege (Eds) (2003) Value and the World Economy Today: Production; Finance and Globalization; pp91-118. London:MacMillan; ISBN: 1 40390 002 7 This paper constructs a theoretical...

Abstract This article is a part of a twin study. Drawing on the available evidence, in this paper the author examines the cost of compliance with Sanitary and Phytosanitary (SPS) measures for poor countries with reference to Africa. He shows that the burden of cost of compliance is entirely on...

The paper analyses a new leximetric dataset for India relating to the protection of shareholders of the limited liability corporate sector and examines the impact of the changes in the shareholder protection law on economic development through stock market development. It finds no long-term...

Recent empirical studies concerning the impact of foreign direct investment (FDI) on economic development have all been taking into account FDI as a whole. However, the theoretical literature on the topic argues that more attention should be devoted to distinguishing FDI by type, and suggests...

This work consists of two essays on law and finance in international trade. It addresses the means of raising funds for investment through receivables financing and project finance. The first essay discusses the role of receivables financing and in particular factoring in international trade. It...