Countries that are moving from central planning to a market economy face unique problems in many areas, including taxation and public finance. The methods of collecting the revenue needed to fund government services were much different under a socialist system. Shifting to a market system...

Australia's trade with India and South Africa has been growing steadily in recent times. These countries have become more liberalised in trade during last five years and they also play a significant role in the Indian Ocean Rim-Association for Regional Cooperation (IOR-ARC). It has been proposed...

This paper re-examines the money demand in Malaysia covering the period from 1974 to 2001, a period characterised by various events particularly the financial sector liberalisation, changes in monetary framework and currency crises. Our results support the existence of fairly stable long-run...

Most tests of weak form efficiency of stock market prices are conducted on aggregate stock indices. Aggregation however introduces measurement biases when the constituent stocks in the index do not trade frequently. Non synchronous lagged trading and the consequent catching up, is likely to show...

This paper focuses the field of energy and economic development. It studies the type of the Portuguese technological evolution during the last quarter of the twentieth century using a special putty-clay production function with energy consumption as input. In methodological terms we may say that...

It is widely acknowledged that the ability of firms to compete in the new international context depends significantly on their capacity to innovate. Altering this capacity is a costly, risky process, especially for small- and medium-sized enterprises (SMEs) which face greater resource...