The aim of the paper is to model the impact of exchange rate on both inflation and unemployment variables in economies which are characterized by important structural changes, i.e., a transition phase moving from centralized economies towards market economies. This phenomenon, which is common to...

This paper examines the sources of structural changes in output growth of China's economy over 1987-92 using a decomposition method within the input-output (IO) framework. The model uses three comparable IO tables of 1987, 1990, and 1992 as the main data sources; it accounts for output changes...

There has been renewed empirical work recently on testing the neoclassical model of economic growth using data on various groups of countries. But none of the cross-country regressions includes China, the largest developing economy in the world. This study utilises both cross-sectional and panel...

This paper attempts to assess the determinants of Foreign Direct Investment (FDI) in China and its effects on the whole economy. After presenting the main theoretical contributions and the previous works done about China's inward-FDI, an empirical study has been implemented extending the...

This paper investigates the dynamic structure of a standard disequilibrium model. By assuming that the model variables are non-stationary time series with respect to ample empirical evidence, we find the following: 1) it is the exogenous variables rather than the price adjustment process that...

The paper argues that the sustainable development of Chinese agriculture is constrained by the continuing adverse effects of the policy of industrialisation. This has resulted principally in an excessive loss of capital from the agricultural to the industrial sector, a loss of strategic natural...

This paper is intended to model the principal-agent relationship and its associated monitoring-incentive problems of the public economy. The basic findings are: (1) the degree of publicness and the size of the public economy matter: the monitoring effort of the original principals and the work...

The presence of structural breaks reduces the power of integration tests. A number of methods were suggested to improve the statistical properties of integration tests in the presence of structural breaks. The most known are Perron tests, which allow to test for the level of integration of time...

With new technically advanced methods and computers at our disposal, the efficient market hypothesis is once again being debated. At the same time, we are witnessing an unprecedented growth in both existing and new financial markets. These new markets are often in economies which have just...