A number of previous studies (Barro and Sala-i-Martin, Grier) have attempted to gauge the differential impact of regressors such as human capital and investment on the performance of fast and slow growing economies. To date, most such studies impose a single marginal impact on all countries for...

This study tests for the stationarity of current account deficits for a sample of twenty six African countries. For this purpose, a new test advocated by Breuer, McNown and Wallace (2002) is employed which allows one to test for unit roots in heterogeneous panel datasets. This SURADF test...

We analyse the evolution of Private Consumption on Health, having into account that there are substitution effects between public and private expenditure in OECD countries. From the analysis of the evolution of these variables our main conclusion is that the increase of expenditure on Health,...

It is important to note that the negative development on the Gulf States' labour market cannot be attributed to differences in the size of the working age population or the participation rates among working age people. Hence, it would be wrong to argue that labour supply has risen so much in the...

We propose in this article a general time series model, whose components are modelled in terms of fractionally integrated processes. This specification allows us to consider the trend, the seasonal and the cyclical components as stochastic processes, including the unit root models as particular...

This paper formulates a model of optimal export decision of private firms and then empirically studies the effect of firm size, import of raw materials and capital goods, competitiveness (measured in terms of price-cost-margin (PCM)), and productivity growth on export performance of Indian...

The main purpose of this paper is to test empirically whether there exists a stable function of demand for broad money in Jordan over the period 1976-2000. Despite the substantial financial market liberalization in the late of 1988, the co integration and error correction methodology shows that...

This paper examines the Phillips curve relationship when the second moment of inflation is nonlinear. Specifically, we estimate GARCH models that provide evidence consistent with Keynesian-type models that imply output "overshooting" and inflation fluctuations following aggregate demand shocks....

This paper investigates the central bank's behaviour in a developing economy through a nominal monetary policy feedback rule (NFR) that embodies an inflation targeting mechanism. Particularly, the Dominican Republic is modelled by allowing the hypothetical NFR to receive feedback from inflation...

Although a Currency Board is a simple monetary arrangement, there is a range of important policy issues that must be addressed by the domestic monetary authorities. If one defines policy misalignment as deviation from such policy rule then such mistakes have been associated with either external...