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The authors construct a model of a small growing open economy that distinguishes two effects from foreign transfers. There is evidence that aid has a direct positive effect on growth, which is however significantly mitigated by the adverse indirect effects of associated rent-seeking activities.

The paper proposes a framework for a regional economic policy in Colombia. The regional characteristics and disparities of the country are studied, and regional disparities are shown to be both significant and persistent over time.

The commission is charged with identifying the strengths and weaknesses of Marylands business climate, assessing successful technology initiatives in other States, and then developing and submiting to the Governor specific recommendations for further growth of Marylands technology economy.

The report is the culmination of an intensive eight month study of the Colorado economy. The purpose was not only to research potential target and emerging industries for the state, but also to perform a detailed economic base analysis of the 64 counties. This combined approach gives an industry perspective that can be used as an economic tool.

The authors propose a new approach to international comparisons of real GDP measured from the output-side. On the basis of a set of domestic final output, import and export prices and values for 14 European countries and the U.S., it is shown that differences between real GDP measured from the expenditure and output-side can be substantial, especially for small open economies.

The authors provide an analysis of the process of creative destruction across 24 countries and 2-digit industries over the past decade. All countries display a massive reallocation of resources with the entry and exit of many firms in all markets, the failure of many newcomers and the expansion of successful ones.

The paper explores the advantages of factoring over other types of lending for firms in developing economies, and discusses the informational, legal, tax and regulatory barriers to its growth. It also examines the role of factoring in the eight Eastern European countries that became EU members on May 1, 2004—the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, the Slovak Republic, and Slovenia, referred to as the EU 8.

This report is the third annual assessment of Maine’s investments in R&D. It is part of a six-year effort to collect relevant information, put it in the context of economic developments in Maine, New England, the EPSCoR states, and the nation, and provide advice to the Governor and legislature on policies to help create a morecompetitive Maine.

Maine’s Innovation Index 2004 is a compilation of 24 indicators measuring Maine’s economic capacity and progress toward competing in an innovation-driven economy.

This paper combines the analysis of ex ante and ex post characteristics of Initial Public Offering companies to cast more light on the determinants of the going public decision in the UK. Some of the findings are consistent with prior empirical studies in other contexts.