This study investigates the causal relationship between openness and economic growth in China. The integration and cointegration properties of the data are analysed and the models of Granger, Sims, Geweke and Hsiao are used to identify a bi-directional causal relationship between GNP and exports...

Endogenous innovation growth theory is tested by using panel data for 27 provinces across China. R&D expenditure and openness are added to the standard convergence regressions to control for different structural characteristics in each province. A standardized 't-bar' test for unit roots is...

This paper addresses two problems faced by many forecasters in the transport sector, namely how to use a relatively small sample to forecast car ownership over a long period of time and avoid the difficulties caused by spurious or nonsense regressions. Five alternative estimation methods are...

A general to specific methodology is used to construct UK demand for outbound tourism models to twelve destinations. A tourism destination preference index is introduced to take into account social, cultural and psychological influences on tourists' decisions concerning their overseas holiday...

This paper uses GARCH models to analyse the relationship between returns and volatility on the Shanghai and Shenzhen Stock Exchanges in China. Empirical estimates using the sample data from 21 May 1992 to 2 February 1996 suggest that the variances of the returns in the two markets are best...

Previous studies indicate that the poor forecasting performance of constant parameter UK consumption expenditure models is caused by structural instability in the underlying data generating process. Typically, this instability is removed by reparameterization within the constant parameter...