Economic studies on environmental degradation generally have a narrow focus on per capita income as an explanatory variable, and often fail to distinguish among the various types of environmental quality or damage. This paper addresses both problems by examining the effect of relative equality...

This paper examines Chairman Greenspan's recent claim that central bankers around the world have been operating 'as if' monetary policy were constrained by gold that backs up reserves. The paper argues, instead, that central banks in flexible exchange rate regimes operate with an overnight...

This paper assesses the impacts of globalisation on the cross-country comparative patterns of growth and development. In the theoretical section, some of the key linkages between growth, development and globalisation are explored including the positive and negative impacts of globalisation and...

This paper investigates the impact of a significant reform to the youth minimum wage in New Zealand in 2001, on the expectations of low wage employers' profits. In March 2001, the eligibility for adult minimum wage rates was lowered from 20 to 18 years while the youth minimum wage for 16-17 year...

The prime concern is to highlight the strategic choice framework (SCF) for analysing localities' economic development and competitiveness policies in the context of globalisation. The SCF is centred on hypotheses relating to the governance of production, where 'governance' is understood in terms...

This paper emphasises the linkages between corporate strategy, the macroeconomy and the role of industrial policy in this macropolicy context. While this is an aspect of industrial policy that is rarely addressed, we suggest that there is, in fact, a real and highly significant complementarity,...

Econometric estimates of the level of efficiency at bank branches are likely to provide detailed insight into the overall level of efficiency in banking. Therefore this paper uses Bayesian stochastic frontier analysis to assess the production efficiency of 61 bank branches in the nine provinces...

The autoregressive distributed lag model (ARDL), even though it distinguishes between the short run and the long run effect, allows both the intercepts and slopes to vary across countries. Static panel estimations, such as fixed-effects estimation (FE), cannot distinguish between the short run...

Understanding how public investment affects economic performance in highly indebted low-income countries is crucial in order to implement effective fiscal policies for adjustment with growth. In this paper we provide an empirical analysis to investigate the relationship between public...

In the present paper we explicitly introduce interest payments and debt into a Kaleckian distribution and growth model with an investment function very close to Kalecki's original writings. This implies that growth in this model is 'wage-led'. The effects of interest rate variations on the...