This paper proposes a worst-case approach for estimating econometric models containing unobservable variables. Worst-case estimators are robust against the averse effects of unobservables and, unlike the classical literature, there are no assumptions made about the statistical nature of the...

Using a dynamic panel data model with serial correlation in the error term, the purpose of this paper is to examine if Gibrat’s law can be rejected for the services sector as it has been for manufacturing. The aim of this paper is also to improve the understanding of the empirical determinants...

China's accelerated growth rate during the reform period 1978-97 has reinforced concerns about how to cope with continued expansion while also maintaining balanced regional growth. We examine the tendency to, and the speed of, provincial income convergence during the two periods: pre-reform...