This contribution investigates the channels through which the relationship between financial deepening and growth materializes. While this relationship has been extensively explored over the recent past, less attention has been paid to the channels through which the relationship comes about. In...

This paper tests the contractionary devaluation hypothesis in the context of select African countries. The output effect of devaluation is examined within an empirical model that controls, among others, for the parallel currency premium, the rate of net capital inflow, the degree of capacity...

Understanding the economic integration of minority ethnic communities requires an analysis of the educational process. This paper examines second-generation immigrant youths' educational attainments in comparison with those of similarly aged native Swedes. Binomial-logit, grouped-regression and...

Prior to nationalisation British gas undertakings were faced with a choice of three different regulatory schemes linking the price charged for gas with the amount of dividend that could be paid. The three schemes, the maximum price system, the sliding scale and the basic price system possessed...

While mainstream growth theory in its neoclassical and new growth theory incarnations has no place for aggregate demand, Keynesian growth models in which aggregate demand determines growth neglect the role of aggregate supply. By assuming that the rate of technological change responds to labour...

The objective of this paper is to analyse the development of industrial policy in the European Union. The changing concepts and rationale for industrial policy are reported with reference to the treaties and communications of the European Commission. Industrial policy has followed the course of...

A report by the Council of Economic Advisers (1997) is the first of a group of studies, known as caseload studies, analysing the relationship between the US unemployment rate and the welfare participation rate, with special regard to the 1990s. We examine this relationship in a structural VAR...

This paper examines the shape of the firm size distribution over time and across sectors, using a longitudinal data set of manufacturing firms in the Netherlands in 1978-1998. Although the size distribution is highly skewed and resembles the Pareto law, a variety of patterns emerge across...

This study analyses the effects of specialisation on the cost efficiency of a set of banking systems of the European Union over the period 1992-1998. Unlike in the established literature in which specialisation differences are not considered, in this paper cost inefficiencies are decomposed into...

Two features of recent economic experience have been the transition to post-Fordism and the ageing of populations. Post-Fordism entails diverse production and consumption, flexible employment, privatisation and a smaller welfare state. Population ageing is predicted to cause financial problems...