The main objective of this paper is to assess how mutual information as a measure of global dependence between stock markets and macroeconomic factors can overcome some of the weaknesses of the traditional linear approaches commonly used in this context. One of the advantages of mutual...

This paper investigates the impact of public and private investment on Côte d’Ivoire’s economic performance (GDP growth) over the period 1969-2001, using an autoregressive-distributed lag (ARDL) Error Correction Model (ECM). The results shows that in the short run an increase in private...

In this multi-country study, sample countries selected from each segment of development levels areanalysed in terms of demography, urbanization, economic policy, geographical location, natural resources, human capital, income distribution and several other factors. In a former study by the...

This paper examines the empirical relationships between exports growth and economic performance for western Africa countries using a non-linear Markov Switching VAR model in contrast with previous linear time series studies. We could not find causality from exports to GDP and vice versa in...

This paper investigates the empirical saving-investment relationships for Côte d’Ivoire and Ghana over the period 1960–1998, using a Markov Switching VAR model. We find regime-dependent causality from saving to investment in Côte d’Ivoire but not in Ghana. In terms of Feldstein and...

It is widely believed that moderate and stable inflation rates promote the development process of a country, and hence economic growth. Moderate inflation supplements return to savers, enhances investment, and therefore, accelerates economic growth of the country. The main purpose of this study...

We derive a non-linear wage equation from a wage bargaining model and estimate an error correction model for Germany, Spain, France, the Netherlands and the US. Based on the estimated parameters, we derive time-varying elasticities of wages with respect to its determinants labour productivity,...

In this study we test for structural changes in international trade patterns of 77 countries over the post-WWII period, to examine if they experienced a substantial increase in their trade ratios following major GATT rounds such as the Kennedy Round, or after joining GATT. Our results show that...

This paper looks at the relationship between patents and economic growth in Japan and South Korea using both individual country and panel data. For the econometric estimation, we use annual data for 1963-2005. For Japan, we find that the logarithms of real GDP and the number of patents are...

This work aims to test the persistence of Italian unemployment rate during last fifty years. To this scope we find evidences of a unit root, also when we allow for the presence of structural shifts so that the level of unemployment has a path dependant behaviour. Secondly, we test a possible...