A number of economists have stated, and two recent empirical studies have suggested, that financial globalization should exert a positive effect on macroeconomic outcomes in general and inflation in particular. We re-examine the impact of such openness on inflation by exploiting a recent index...

In this document we evaluate how macroeconomic conditions influence the amount of remittances sent to Mexico from the United States in the long-run and in the short-run. Specifically, we perform cointegration tests to determine the existence and magnitude of common trends between remittances and...

This paper offers a new insight into real exchange rate behaviour in Latin America. Using quarterly data over the sample period 1973Q2-2005Q4, the analysis indicates that the real exchange rates of Argentina, Brazil and Venezuala can be described as non-linear trend stationary processes. This...

The aim of this article is to point out the importance of education on a sustained economic development strategy, having into account inter-sector relations and the influence of education in the growth of production per head. Three cross-country models are presented. The first model relates the...

A critical review of cointegration is presented in this paper, emphasizing some limitations of this approach to testing causal relations in Econometrics. Very often the usual way of analysing cointegration leads researchers to declare many important causal relations as spurious when they are...

This paper presents a comparison of exponential rates of growth in America, Europe, Africa and Asia-Pacific during the 20th century, and analyses the main causes that explain the important differences in Gross Domestic Product by inhabitant among these large areas. The paper emphasizes the...

We present a comparison, at area level, of production by sector in America, Western Europe, Central Europe, East Mediterranean and East Europe, including also Russia and former Ussr countries, and we analyse the main differences among these areas in economic development during the 20th century.

This paper presents a general view of economic growth and the evolution of education and population in North America, Central America and South America, including a comparison of production by inhabitant in Agriculture, Industry and Services, and foreign trade. The leadership of USA and Canada...

The aim of this paper is to analyse the evolution of manufacturing in 11 OECD countries, during the period 1975-92, from two viewpoints: supply and demand. With this purpose we estimate, with a pool of data, two econometric models for explaining industrial production from the above mentioned...

During the second half of the 20th century Asia as a whole experienced a much higher increase in production by inhabitant than Africa, due to several factors which caused improvements in industrial development and moderation in the rates of population growth. We present a comparison, at area...