Using data on per capita income of Japan's 47 prefectures between 1955 and 1997, this paper shows that one of the most popular measurements of convergence, σ-convergence, is not invariant with both transformation and definition of dispersion. Measured by the standard deviation, the actual per...

How effective are public transfers in protecting households facing financial crisis-induced negative shocks? Existing studies have not yet carefully considered the inter-relationship between public transfers and the existing private transfer network. In the context of the financial crisis in...

Scholars have suggested that small-scale sports events may be a sustainable form of tourism development for communities (e.g., Higham, 1999). The purpose of this study was to examine six small-scale sports events and the work of a local sports commission in the context of the three pillars of...

The financial crisis in 1997 caused serious deterioration of the Korean economy. We examined the credit crunch in Korea and how it affected household welfare. With household panel data from 1996-1998, we estimated a switching regression model of a consumption Euler equation, which is augmented...