Showing 1 - 10 of 146
We examine the effect of energy exports and globalization on economic growth using the bias-corrected least square dummy variable model in a panel of five South Caucasus countries (Azerbaijan, Armenia, Georgia, Russia and Turkey) over the period of 1990–2009. We provide evidence that higher...
Persistent link: https://www.econbiz.de/10010737978
This paper examines the long-run equilibrium and the existence and direction of a causal relationship between carbon emissions, financial development, economic growth, energy consumption and trade openness for India. Our main contribution to the literature on Indian studies lies in the...
Persistent link: https://www.econbiz.de/10010781954
The information content of the environmental Kuznets curve (EKC) is subject to change over time and all the empirical modeling work that does not take into account the possible variations and instabilities may fail to explain the variations in the per-capita CO2 and per-capita income...
Persistent link: https://www.econbiz.de/10011048935
This paper studies the nonlinear adjustment between industrial production and carbon prices – coined as ‘the carbon-macroeconomy relationship’ – in the EU 27. We model carbon price returns and industrial production as nonlinear and state-dependent, with dynamics depending on the sign and...
Persistent link: https://www.econbiz.de/10010577077
This paper revisits the link between oil price uncertainty and macroeconomy in the context of a net oil exporting country, Canada. Results obtained from alternative Structural VAR models suggest that while shocks to oil price level do not affect the aggregate level of output, the oil price...
Persistent link: https://www.econbiz.de/10010719368
This paper empirically examines whether there exists stochastic convergence of income inequality among 48 contiguous … evidence in support of the hypothesis of inter-state inequality convergence. Moreover, the results are robust to alternative … inequality measures applied, different notions of stochastic convergence defined, and alternative panel stationary test employed. …
Persistent link: https://www.econbiz.de/10011048962
This paper analyzes the time stability of the GDP beta convergence in two subsamples: EU27 countries during 1993 … compared with the widely cited 2% rate of convergence. (2) The pure mechanism of conditional convergence of the countries under … study was rather constant over time: there were periods of more rapid or slower convergence but the differences were not as …
Persistent link: https://www.econbiz.de/10011048966
Economists have investigated the relationship between output and export in order to explain economic growth for long years. Numerous studies have found very close correspondence between the growth of output and export. It is commonly known that Thirlwall's papers indicate very tight relationship...
Persistent link: https://www.econbiz.de/10011048872
In a continuous time model, a representative household has to allocate its investment and consumption in an optimal manner under conditions of uncertainty. In the present study it is hypothesized that there are two types of assets: a risk-free and a risky asset. The risk-free asset is assumed to...
Persistent link: https://www.econbiz.de/10010577075
One of the key differences between exogenous and endogenous growth models is that a transitory shock to investment share exhibits different long-run effects on per-capita output. Exploring this difference, the present paper evaluates the empirical relevance of the two growth models for the G-7...
Persistent link: https://www.econbiz.de/10010664419