Annual Current-Dollar Measures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  National income and product . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...

This paper studies optimal investment decision under uncertainty regarding agricultural income subsidies. The approach is based on stochastic programming. Investment decision is modelled as a Markov decision process. The cost of imperfect information can be estimated as the difference between the profitability of investment under stable income subsidies and under uncertain subsidies. risk. Assu...

This paper studies optimal investment and the dynamic cost of income uncertainty, applying a stochastic programming approach. The motivation is given by a case study in Finnish agriculture. Investment decision is modelled as a Markov decision process, extended to account for risk. A numerical framework for studying the dynamic uncertainty cost is presented, modifying the classical expected valu...

The unequal distribution of neurosurgical resources and diseases in the world contributes to inequality. Eight in ten neurosurgical cases needing essential neurosurgical care are found in low- and middle-income countries (LMICs); however, LMICs lack the neurosurgical resources to address these needs. Besides, where neurosurgical care is available, it is not financially accessible to the majorit...

This paper analyzes qualitatively and quantitatively the effects of declining mortality rates on fertility, education and economic growth. The analysis demonstrates that if individuals are prudent in the face of uncertainty about child survival, a decline in an exogenous mortality rate reduces precautionary demand for children and increases parental investment in each child. Once mortality is e...

Within an endogenous growth framework, this paper empirically investigates the impact of financial capital on economic growth for a panel of 60 developing countries, through the channel of domestic capital formation. By estimating the model for different income groups, it is found that while private FDI flows exert beneficial complementarity effects on the domestic capital formation across all ...

This paper constructs a Bewley model, a dynamic general equilibrium model of heterogeneous households with production, which accounts for the Pareto distributions of income and wealth. We emphasize the role played by concavity of the consumption function in generating the Pareto distribution. We show that the Pareto distribution is obtained when households face idiosyncratic investment shocks o...

Low and middle income countries are faced with a range of challenges related to providing efficient and affordable health care. With non-communicable diseases (NCD) on the rise, there is a growing need to be able to estimate resource requirements, costs and expected impact associated with various investment strategies related to prevention and control of NCD. In this article, recently developed...

BACKGROUND No systematic attempt has been made to calculate the costs of scaling up mental health services in low- and middle-income countries. AIMS To estimate the expenditures needed to scale up the delivery of an essential mental healthcare package over a 10-year period (2006-2015). METHOD A core package was defined, comprising pharmacological and/or psychosocial treatment of schizophren...

helpful comments. The views expressed herein are those of the authors and not necessarily those of the National Bureau of Economic Research. All rights reserved. Short sections of text not to exceed two paragraphs, may be quoted without explicit permission provided that full credit including ©notice, is given to the source. ABSTRACT The positive correlation between PPP investment rates and PPP ...