As a depletable resource, oil is a useful source of economic growth, but may not be relied upon for long-term sustainable development. Diversification from oil is needed to achieve this. This paper examines the most important non-oil determinants of growth in the Saudi economy between 1970 and...

This study examines the impact of new immigration on housing rent, using Canadian province-level panel data from 1983 to 2010. In its estimations, it utilises econometric methods such as panel unit roots, panel co-integration regressions and panel vector error correction models. Both...

This paper evaluates the importance of trade in goods when modelling demand for tourism. It is argued that the limited literature testing causality between trade in goods and tourism does not consider the appropriate variables. This study utilises bilateral data for 16 UK tourist destinations in...

Although better information about the dynamics of the yields on financial assets is decisive for both borrowers and lenders alike, it is not uncommon for researchers to employ standard unit-root tests to determine the extent of the persistence and, based on such results, treat the entire series...

We employ an Exponential Generalised Autoregressive Conditional Heteroskedasticity (EGARCH) model to examine the volatility spillover effects between stock prices and exchange rates in three developed and three emerging countries, across the recent pre-financial-crisis, crisis and post-crisis...

One of the unofficial goals of the formation of the European Monetary Union (EMU) was to enable member nations to keep inflation at a low and stable rate, while minimising the costs associated with trying to reduce the rate of inflation. This paper seeks to examine whether the formation of EMU...

This paper draws on the literature that explains why governments spend procyclically, to predict the pattern of cyclical expenditure across government budgets. Procyclical expenditure increases at a faster rate than income in economic upturns and falls at a faster rate in recessions. The more...

This paper examines British Government policy with regard to the taxation of betting, from a historical and economic perspective. The taxation of betting is traced to the introduction in 1926 of a tax on betting turnover by the Chancellor of the Exchequer, Winston Churchill. By 1930 the tax had...

The financial crisis of 2008 provides an interesting opportunity to investigate the effect of the crisis on the capital structure decisions of firms. Over the years, capital structure choice has attracted considerable attention in the literature and is important to firms, investors and policy...

This paper reinvestigates the validity of the Fisher hypothesis, for several selected developing countries. With the quantile cointegration method proposed by Xiao (2009), we find that the long-run coefficients between nominal interest rates and inflation can be affected by the shocks and,...