The past three years have seen major changes in India's economic policies marking a new phase in India's development strategy. The broad thrust of the new policies is not very different from the changes being implemented in other developing countries and also all over the erstwhile socialist world. They aim at reducing the extent of Government controls over various aspects of the domestic econo...

This paper relates democracy, public and private international capital flows, and odious debt. Democracy commits a ruler to pass borrowed funds on to the private sector which builds the country’s international collateral, and the consequent rise in the credit ceiling is a Pareto-improvement up to a point because the ruler can appropriate a smaller share of rising loan. However, the ruler may st...

The Stability Pact for South Eastern Europe is a political declaration and framework agreement adopted in June 1999 to encourage and strengthen cooperation among the countries of South East Europe (SEE) and to facilitate, coordinate and streamline efforts to ensure stability and economic growth in the region. (see Compact ") is a key component of the Stability Pact under Working Table II on Eco...

We model alternative institutional arrangements for building and managing facilities for provision of public services, including the use of the Private Finance Initiative (PFI), by exploring the effects on innovative investment activity by providers. The desirability of bundling the building and management operations is analyzed, and it is considered whether it is optimal to allocate ownership ...

When publicly owned and operated water utilities lack the resources and technical expertise to expand services and operate efficiently, governments may seek investment from the private sector through concessions or other contractual arrangements. In such instances, a credible regulatory presence can promote favorable outcomes for all stakeholders by identifying the operating efficiencies of uti...

the theoretical base of this paper is the economic growth model that completed with capital stocks (private and public) and human capital. at the first, hypothesis test about constant returns to scale is studied, and then the related variables with macroeconomic policies are added to the model. the results show that 1) the aggregate production function exhibits increasing returns to scale, 2) p...

ii Executive summary In order to achieve a transition to sustainable development, economies will need to be radically transformed. Businesses and households will be responsible for the bulk of the investment needed. Such a radical transformational change will require the blending of public and private, domestic and international, capital and technical assistance finance. Global capital markets ...