The empirical VAR literature on identification and measurement of the impact of monetary policy shocks on the real side of the economy is fairly comprehensive for developed economies but very limited for emerging and transition economies. In this study, we propose an identification scheme, for a...

China’s iron and steel sector is the largest in the world and has been the backbone of Chinese heavy industry. This sector is also a major consumer of energy and, in particular, coal. As a result, the iron and steel sector in China is a major contributor to greenhouse gas emissions and...

This paper studies empirically the relationship between oil endowment and the duration of autocratic leaders. A simple theoretical setting shows how the relationship between oil endowment and the duration of the dictatorial regime is mediated by the price of oil. Using a dataset on 106...

This study examines the existence of long-run equilibrium relationship between the Cambodia’s real exchange rates and real interest differentials. The results of cointegration tests (i.e. Engle-Granger tests, and Johansen’s multivariate tests without and with structural breaks)...

This study estimates the possible determinants of outward FDI from Malaysia by introducing host market size and home government policy on capital outflows using multivariate cointegration and error-correction modeling techniques. The empirical results indicate that there is a positive long-run...

This paper discusses the problem of crowding out of insurance by co-existing governmental relief programs - so-called ’charity hazard’ - in a context of different institutional schemes of government relief in Austria and Germany. We test empirically whether an assured partial...

For the last two decades, a key policy objective of the Association of South East Asian Nations (ASEAN), to which it claims much success, has been the supra-national integration among the region’s financial markets. This paper critically appraises this claim by locating and estimating...

This paper uses the recent approach of multidimensional deprivation measures to provide a comprehensive and wide ranging assessment of changes to living standards in India during the period, 1992/93-2004/5.This covers the reforms and the immediate post reforms time periods. The study is based on...

Applying Foster, Haltiwanger and Krizan‟s (1998) decomposition of productivity growth method to Malaysian manufacturing census data for 2000 and 2005, we analyse if firm turnover by ownership (domestic versus foreign) has any impact on the sector‟s aggregate productivity growth. The...

This paper investigates how monetary shocks are transmitted internationally. It shows that where a national currency is used as an international medium of exchange, the international money is non-neutral. In particular, an increase in the supply of international money leads to a transfer of real...