We study the determinants of capital structure for 650 Chinese publicly listed companies over the period from1999 to 2004.We posit that a firm's decision on capital structure is inherently dynamic, and estimate the resulting dynamic capital structure model. The main findings of the paper are as...

There is a substantial empirical literature which examines the relationship between private and public consumption. The conclusions from this literature, however, are generally mixed. In this paper, we attempt to provide some additional evidence on this relationship. We consider a two-good...

In this paper, we examine whether adjustment costs are a significant source of the observed sluggish adjustment of Canadian and US import demand. We use a simple model of a utility maximizing domestic consumer under the assumption of integrated forcing variables to examine the importance of...

Using the degree of accessibility of foreign investors to emerging stock markets, or investibility, as a proxy for the extent of foreign investments, we assess whether investibility has a significant influence on the diffusion of global market information across stocks in emerging markets. We...

This paper examines how sales taxation on Internet purchases could affect the decision to buy goods over the Internet. The results appear robust with respect to unobserved technological sophistication or other alternative explanations. The tax effect is found to be significant and its magnitude...

To explore the relationship between government and BRAC in the implementation of Water, Sanitation and Hygiene (WASH) programme this qualitative research was undertaken. This involved purposive sampling of programme sites for conducting semi-structured focus group discussions. The government and...

Biotechnology is one of the world's fastest growing industries, expanding almost four times faster than the G-7 average for all sectors with global demand of US$50 billion in 2005. Biotechnology offers significant economic benefits, particularly in exports and job creation, as well as important...