The relationship between foreign aid and economic growth is investigated for a panel of developing countries (Botswana, Ethiopia, India, Kenya, Sri-Lanka, and Tanzania) over the period 1974-1996. The results reveal that the variables contain a panel unit root and they cointegrate in a panel...

The aim of this paper is to investigate whether price dynamics is homogeneous across the Eurozone countries. Relying on monthly data over the January 1970~July 2011 period, we test for the absolute purchasing power parity (PPP) hypothesis through the implementation of second and third-generation...

As apresentações habituais do modelo Hecksher-Ohlin (HO) nos livros de texto têm quatro problemas: análise por vezes superficial dos mecanismos económicos relevantes; escassa ilustração através de exemplos económicos concretos da capacidade explicativa do modelo; utilização de...

This paper applies likelihood-based panel cointegration techniques to examine the existence of a long run relationship between GDP, tourism earnings per tourist and total trade volume for a panel of European countries over the period 1988{2010. Removing the cross dependency, our panel...

Theoretically commodity prices are expected to overshoot the money supply in the short run but to vary with unit proportionality in the long run. This follows from the observation that consumer prices are sticky and that commodity prices, set in auction markets are fully flexible. There is...