This paper studies maximin paths in the context of a standard exhaustible resource model. Under the assumption that the resource is important in production, it establishes the efficiency and uniqueness of non-trivial maximin paths. It uses these results to study the nature of the maximin value and policy functions. The value function is shown to be differentiable with respect to the initial res...

This paper establishes a simple model of long run economic and political development, which is driven by the inherent technical features of di¤erent production factors, and political con‡icts among factor owners on how to divide the outputs. The main capital form in economy evolves from land to physical capital and then to human capital, which enables their respective owners (landlords, capital...

This paper begins with a discussion of the role played by upgrading in the promotion of sustainable growth. Upgrading is discussed in two different contexts, that of industrial clusters and that of global value chains (GVCs). Drawing on global and African experiences, the paper addresses the upgrading agenda required to enable dynamic clusters to meet both domestic needs and progressively also ...

An American geographer specializing in southeast Europe and the Middle East examines Turkey’s prospects for membership in the European Union, a process that recently received a positive recommendation by the European Commission. Of particular importance in the debate over Turkish accession are claims that cultural differences divide Europe and Turkey, and overshadow both their shared history an...

The purpose and research objective of this paper is the influence of foreign direct investments on the performance of domestic firms which is analyzed through a case study of Southeast Europe, and in particular of Macedonia. The conception of this analysis uses the methodology of the World Bank’s Enterprise Surveys, which have been conducted on many countries using firmlevel data of representat...

Distribution of Natural Resources, Entrepreneurship, and Economic Development: Growth Dynamics with Two Elites This paper develops a model in which the interaction of entrepreneurial investments and power of the owners of land or other natural resources determines structural change and economic development. A more equal distribution of natural resources promotes structural change and growth thr...

This paper presents a contractual framework to investigate the dynamic relation between income inequality and occupational choice in an overlapping generations model. Depending on the natures of equilibrium loan contracts, ex ante expected utilities (or average lifetime incomes) of different occupations in economy are not equal and such inequality persists in the long run. This result is, in co...

Over the course of 15 years, between 1992 and 2007, Mexico carried out a major land titling program that handed out certificates over usage rights for more than 90% of its communally held land (ejidos). Importantly, formally specifying usage rights through certification can reduce ambiguity in claims to property. This paper analyzes the long run impact of this program using data from 1991 and 2...

Although previous works have discussed the benefits of precolonial centralization for development in Africa, the findings and the mechanisms provided do not explain the heterogeneity in development outcomes of formerly centralized states. Using new survey data from Nigeria, I find a significant negative effect of precolonial centralization on access to certain public services for centralized re...

Do International Labor Standards Contribute to the Persistence of the Child Labor Problem? In recent years, a number of governments and consumer groups in rich countries have tried to discourage the use of child labor in poor countries through measures such as product boycotts and the imposition of international labor standards. The purported objective of such measures is to reduce the incidenc...