The hypothesis of export-led growth for the US economy is tested. A six-variable vector autoregressive (VAR) model is constructed to balance various possible offsetting impacts on exports and output. Based on the VAR techniques, no significant causal impacts are found between exports and output....

In this paper cointegration techniques have been applied to identify the role of opportunity cost in the demand for real balances in the Greek case and covering the period 1978-93. The results reveal that it is the simultaneous presence of nominal interest rates, the expected inflation and the...

The Hayes asymmetric information model of strike activity predicts a negative relationship between actual firm profits and strike frequency, and a positive relationship between the trade union's expectations of firm profitability and the duration of strikes. Results from the application of the...

This paper suggests a test of an upgraded version of the Solow model which was suggested by Mankiw, Romer and Weil (MRW). MRW upgrade the Solow exogenous growth theory by including human capital. Human capital has been a major variable suggested mainly by endogenous growth models in order to...

A maintained hypothesis of the present paper is that a necessary condition for model verification is the robust empirical confirmation of the model's implied restrictions. In particular, the results of a statistical test of any such restrictions should be favourable and invariant across samples....

The relationship between export and economic growth in Sri Lanka, 1960-1992 is examined using the techniques of causality and cointegration. The hypothesis that foreign trade stimulates economic growth was rejected by the findings of the study.

This paper evaluates monthly stock index price from the Taiwan stock market for evidence of weak form market efficiency. Four empirical methodologies are employed: the Ljung-Box Q test, the binomial distribution test, the runs test and the unit root test of stationarity in stock prices....

Based on cross-section data, this paper explores the relationship between economic freedom and the economic performance of low, middle and high income countries. The regression results show that there is a direct relationship between the economic freedom index and per capita income in low income...

Cross-country growth studies are commonly used to empirically investigate the neoclassical convergence hypothesis, the determinants of growth and the impact of policies on growth performance. While questions have been raised concerning the reliability of data and the specification of the...