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Trade openness and bigger governments: The role of country size revisited
(Elsevier, 2015-03)
This paper revisits the question of why more open countries tend to have bigger governments. We replicate successfully the main results of Ram (2009), who rejects the role of country size as an omitted variable. However, ...
Why Aid is Unpredictable: An Empirical Analysis of the Gap Between Actual and Planned Aid Flows
(John Wiley & Sons Ltd, 2015)
Aid flows continue to be volatile and unpredictable, even though it is widely accepted that this erodes the effectiveness of foreign aid. We argue that fragmented donor–recipient relationships, notably the large number of ...
ICP 2005 CONSTRUCTION PRICES: ARE THEY UNDERESTIMATED IN DEVELOPING COUNTRIES?
(International Association for Research in Income and Wealth, 2015)
Construction prices are lower in developing countries in ICP 2005, which has raised these countries’ capital/output ratio in Penn World Tables 7 and 8 and affected growth analyses. We estimate the Colombia/U.S. price ratio ...
WANT EXPORT DIVERSIFICATION? EDUCATE THE KIDS FIRST
(Western Economic Association International, 2015-10)
This paper uses Bayesian model averaging to uncover the true determinants of export diversification among 36 potential factors, and thus 236 potential models. Using data from 2001 to 2010, our results reveal two strong ...
The contribution of wealth concentration to the subprime crisis: a quantitative estimation
(Oxford University Press on behalf of the Cambridge Political Economy Society., 2014-03-03)
The crisis that broke out in mid-2007 was caused by the fact that the collateralised debt obligation (CDO) market had grown to a size sufficient to wreak general havoc when it suddenly collapsed. Several authors have argued ...
Decisions about Postsecondary Education, their Returns in Colombia
(American Research Institute for Policy Development., 2014-09)
This study analyzes the economic returns to schooling decisions made by high school graduates in Colombia. We wanted to verify if the economic returns (wages) obtained by new postsecondary education graduates compensate ...
Evidence that class size matters in 4th grade mathematics: An analysis of TIMSS 2007 data for Colombia
(Elsevier, 2014-01)
Like students in most developing countries, Colombian students in 4th grade performed poorly in the TIMSS 2007 test of mathematics skills, achieving an average score of 355 relative to an internationalmean of 500. After ...
More strictly protected areas are not necessarily more protective: evidence from Bolivia, Costa Rica, Indonesia, and Thailand
(iopscience, 2013)
National parks and other protected areas are at the forefront of global efforts to protect biodiversity and ecosystem services. However, not all protection is equal. Some areas are assigned strict legal protection that ...
