Search

This paper examines the importance of trade openness for attracting Foreign Direct Investment (FDI) inflows, using a sample of 36 developing economies for the period 1990-2008. It provides a direct test of causality between FDI inflows, trade openness and other key variables in developing regions of the world: Latin America, Asia, Africa, CIS (Commonwealth of Independent States) and Eastern Europe. Trade openness is measured by using eight different indicators. The main empirical findings of the panel regression analysis reveal that in the long run, trade openness contributes positively to the inflow of FDI in developing economies.

In this paper, we evaluate income distributions in four European countries (Austria, Italy, Spain and Hungary) using two complementary approaches: a standard approach based on reported incomes in survey data, and a microsimulation approach, where taxes and benefits are simulated. These two approaches may be expected to generate slightly different results, particularly in respect of individuals on lower incomes, because benefit receipts tend to be under-reported in survey data, and over-estimated in microsimulation procedures. However, we find that the two approaches do in fact produce reasonably consistent results, in terms of both inequality measures and poverty rates. To the extent that the results differ, we explore the reasons why these differences arise, and suggest directions for future research, in which each approach may inform improvements in the other. [ABSTRACT FROM AUTHOR]

This study critically investigates the suitability of United Nations' composite indices and other related measures-among which the Gender Inequality Index just released in 2010-to capture gender inequalities in the context of 'highly developed' countries, focusing on the case of Europe. Our results indicate that many of the gender gaps in health and education variables have either vanished or even reversed, thus questioning their appropriateness to capture women's disadvantage in Europe and inviting to construct region-specific measures. Alternatively, parliamentary representation and labor force participation are variables with large gender gaps that highlight important dimensions where women disadvantage prevails. Different cross-section and cross-time associations between economic growth and gender equality are generally not statistically significant-or at most weakly correlated-at European level. This is basically due to the fact that the gender gaps included in UNDP gender-related indices reached their normatively desirable values long ago, therefore leaving no room for further improvement. [ABSTRACT FROM AUTHOR]

It is of paramount concern for economists to uncover the factors that determine economic growth and social development. In recent years a new field of investigation has come to the fore in which social capital is analysed in order to determine its effect on economic growth. Along these lines the work presented here examines the relationships that exist between human and social capital and economic growth. The applied part of the analysis is performed using a panel data model for 14 economically developed countries (OEDC) and by using a series of chronological periods that fall within the 1980–2000 time-frame. A revision of the social capital literature was first carried out and the potential links between social and human capital discussed. The study begins by assessing the way in which the two types of capital interact, how they should be measured and the best way of quantifying their importance within applied models. The econometric model uses panel data, and this enables the analysis to obtain robust results with respect to the role of different types of capital i.e. human physical and social. [ABSTRACT FROM AUTHOR]

European nations are undergoing rapid and fundamental changes in response to social, political and economic events that are occurring both within and outside the region. These changes are far-reaching in scope and, ultimately, are expected to result in a redefinition of "Europe" and what it means to be "European." Using the author's extensively pre-tested Index of Social Progress (ISP), the research reported in this paper: 1) identifies the major changes in social development that have taken place in 36 European nations since 1970; 2) contrasts Europe's recent social development trends with those of other major world regions (including Asia, Africa, Latin and North America, and Oceania); 3) using aggregate scores on the Weighted Index of Social Progress (WISP), identifies Europe's "social leaders" (SLs), "middle performing countries" (MPCs), identifies Europe's "social leaders" (SLs), "middle performing countries" (MPCs), and "socially least developing countries" (SLDCs); 4) identifies the major development challenges confronting Europe at the outset of a new decade; and 5) provides baseline data against which future developments in the region may be assessed. [ABSTRACT FROM AUTHOR]

This study analyzes the impact of privatization on economic growth, productivity, income inequality and unemployment in 22 European countries between 2004 and 2013. The empirical findings suggest that privatization has a positive contemporaneous impact on economic growth, but the effects on labor productivity, income distribution, and unemployment appear two years after the privatization reforms. More concretely, privatization reforms may be implemented with increases in productivity and decreases in unemployment, but to the detriment of income equality. [ABSTRACT FROM AUTHOR]

In this article we present a new proposal for the measurement of development, applied to the Pacific Countries of the African, Caribbean and Pacific Group (ACP), conditional on their insularity, and with privileged relations with the European Union. Our index has been constructed attending to the criteria defined in the Goals of the Millennium Declaration. For this purpose we will use the P distance method for the year 2007, the last year for which data are available. This index integrates socio-economic variables that permit a territorial ordering of the Pacific ACPs, in terms of those partial indicators. [ABSTRACT FROM AUTHOR]