This paper addresses the imperative need to understand the relationship between inward FDI and trade by developing a new conceptual approach and providing empirical evidence. We use an expanded time dataset, from 1992 to 2008 and an enriched dataset of countries, sectors and location factors. In...

The prices of internationally traded metals have experienced wild swings and increased volatility in recent years. The relationship between spot and futures prices is an important topic in this context, as the current period's price of a futures contract should be an unbiased estimator of next...

Remittances are playing an increasingly important role in the economies of developing countries. In this paper, we study the effects of these flows on Pakistan's labour market. We employ the 2007--2008 Household Integrated Economic Survey and Probit as well as Propensity Score Matching...

The objective of this study is to identify monetary policy reactions in a nonlinear, structural vector autoregression (VAR) framework, with regime-switching contemporaneous policy responses in a small open economy. The key finding is that monetary policy in Canada responds contemporaneously to...

Building on Marx's insights in Chapter 25, Volume I of Capital, an augmented version of the cyclical profit squeeze (CPS) theory offers a plausible explanation of macroeconomic fluctuations under capitalism. The pattern of dynamic interactions that emerges from a 3-variable (profit share,...

We conduct an input--output analysis of China's employment changes due to changes in trade structure on a sectoral level. We find that between 2002 and 2007 China generated about 71 million jobs due to trade expansion. We also estimate the additional amount of trade that would be needed if China...

This paper provides empirical evidence of the link between countries' cultural factors and innovation performance. By defining innovation process in a knowledge production framework it uses conditional and unconditional Data Envelopment Analysis (DEA) models together with data from the European...

This paper examines the short-run relationship between the income distribution-growth and debt-growth regimes using a simple, post-Keynesian, demand-driven model. While mechanisms of wage-led and profit-led growth have been revealed, their relationship with debt-led and debt-burdened growth is...