This article employs the covariate unit root test proposed by Elliott and Jansson to investigate the stationarity properties of real interest rates. Instead of blindly trusting the asymptotic distribution of the test, we extend Rudebusch's method to estimate its finite sample distributions under...

This paper studies the evolution of Taiwan's yacht industry in general, and in particular we focus on two entrepreneurial firms, the Horizon Yacht Company and the Jade Yacht Company. Our purposes are two-fold. First, most research studies on Taiwan's economic success are based on the...

This paper analyses the relationship between entrepreneurship and an industrial cluster in general, by particularly examining one of Taiwan's industrial clusters, Houli's saxophone cluster. Our purpose is threefold. First, instead of investigating high-profile and chiefly government-directed...