Climate change models predict that storm frequency will decrease over time, while storm intensity will increase. This paper looks at the national effects of storm frequency and storm intensity on various industries in the US economy, using yearly data from 1977 through 1997. We find that yearly...

This paper examines the relationship between economic growth and outward foreign direct investment (FDI) in Singapore with cointegration and Granger causality analyses. Although we find gross domestic product (GDP) per capita and outward FDI are cointegrated, there is no evidence of long run...

Separate investment demand functions are developed and tested for (1) plant and equipment, (2) inventory, and (3) residential housing and compared for consistency with previous studies of total investment demand. U.S. 1960 - 2000 data are tested using 2SLS with heteroskedasticity controls. Data...

The question of whether financial intermediation has a first order effect on the development process has long been debated. There have also been questions about the ‘robustness’ of the empirical results that suggest financial development does indeed have a first order effect. This paper...

This paper estimates the tourism demand model for Turkey from 14 countries: Austria, Belgium, Bulgaria, Denmark, France, Germany, Greece, Holland, Italy, Russia, Sweden, Switzerland, the United Kingdom and the United States. Different approaches were used to find cointegration in the considered...

Using a threshold regression model and annual data (1960-2008), this paper examines the determinants of investment in Iran. We found that real GDP, the trade openness index and inflation can influence investment. However, the effect of inflation on investment follows an asymmetry adjustment...

This paper analyzes whether the Law of One Price (LOOP) holds in the housing market of five metropolitan areas of South Africa, namely Cape Town, Durban, Greater Johannesburg, Port Elizabeth/Uitenhage and Pretoria. We test the existence of LOOP using the efficient unit root tests proposed by...

In this paper I investigate the effects of recent debt relief initiatives on resource flows to low-income developing countries. For countries that are part of the Heavily Indebted Poor Countries (HIPC) initiative, I find that good macroeconomic management does not influence the level of resource...

This article tests the relationship between the foreign aid and economic growth using the data from 1971 to 2005 for the region of South Asia. We find that foreign aid is highly effective towards working of the economy of the region. The Least Squares Dummy Variables (LSDV) model with fixed...

This paper studies how specialization, measured by industry shares in GDP, is affected by technology and factor endowments. The empirical methodology takes into account variable factor utilization with capital utilization calculated from the consumption of electricity. Estimation results show...