Granger-causality tests on data for 22 Asian, Latin American and Caribbean developing economies suggest that financial deepening does not make much difference to economic growth: for eight countries no lead-lag relationship was detected and in six more economic growth led financial deepening.

In a recent paper in this journal, Atesoglu argued that the reduction in the rate of economic growth in the United States since 1973 was largely due to an increase in the income elasticity of demand for imports, following Thirlwall's law. The purpose of this paper is to show that the evidence...

The results of comparative stability analysis of demand- and supply-side input-output models using the Japanese data are presented, together with the results of the comparison between the comparative stability analysis of the two models using the Japanese, UK and US data. The results of...

This paper presents a new method for evaluating the relationship which exists between strikes and absenteeism, as alternative forms of industrial conflict. The proposed method is outlined and its use illustrated in an analysis of the British dock labour market.

Which of two distributions, the diffusion-jump process or the generalized beta-2 distribution, is superior in approximating the actual distribution of futures prices? The parameters of the distributions were estimated using the futures prices of four highly diverse commodities: British pound,...

This paper analyses the relationship between exports growth and economic growth by estimating an augmented GDP-growth equation on the basis of cross-country data, and using OLS and random coefficient (RC) methods. The latter method yields both mean response coefficients, as in the case of OLS...

Tests are made for (deterministic) chaos on weekly data (from 01/13/87 to 06/02/93) for the spot-month futures exchange rate between the Australian dollar and the U.S. dollar. The Nychka, Ellner, Gallant and McCaffrey nonparametric test for positivity of the maximum Lyapunov exponent is used and...

The high correlation between aggregate unemployment and the dispersion of industrial unemployment can be explained by both aggregate disturbances and sectoral shifts. This paper separates the effects of these two shocks by decomposing each industry's unemployment into aggregate and idiosyncratic...

This study examines the effect of fiscal measures on real private consumption using an error correction model. On balance, the empirical results of the study provided some evidence against the Ricardian equivalence hypothesis. In particular, responses to real government consumption and taxes in...