Cross-country growth studies are commonly used to empirically investigate the neoclassical convergence hypothesis, the determinants of growth and the impact of policies on growth performance. While questions have been raised concerning the reliability of data and the specification of the...

In a recent article in this journal Hitiris used panel data for ten EC countries to analyse the determinants of aggregate health care expenditure. This comment shows that the model was plagued by a spurious regression problem. The data are reexamined using standard unit root and cointegration...

Event studies are increasingly found in the applied finance literature. They are employed to analyse the market reaction to events and thus to investigate market efficiency. The paper is concerned with misspecification testing of the single-index market model which is conventionally employed to...