Purpose – The purpose of this paper is to develop a new framework to test the hypothesis that portfolio model predicts a negative correlation between stock prices and exchange rates in a trivariate transmission channel for foreign portfolio equity investment. Design/methodology/approach –...

This paper employs quantile regressions to investigate the link between the intended use of proceeds and the post-issue operating performance of IPO firms in Indonesia over the period of 2000-2010. The evidence presented here suggests that post-issue performance can be explained by a firm’s...

This article examines the role played by primary and secondary equity markets in economic growth. It departs from standard literature to integrate both markets and explicitly acknowledge the primary equity market. By employing a variety of dynamic panel estimators for 54 countries over the...

The link between skill acquisition and earnings is one of the cornerstones of labour economics. The conventional view is that, all else being equal, workers with relatively higher stocks of embedded skills will receive a relatively higher return when supplying labour. The link between skills and...

The disappointing economic performance of Sub-Saharan African (SSA) economies in the late 1980s prompted economic-wide policy reforms in the early 1990s. The primary objectives of these institutional and structural changes were to promote trade and export activities, enhance foreign direct...

This paper develops a new latent index of human capital identified as valuable skills for seventy countries for the period 1970-2003. The index is compared to existing measures of human capital in assessing the Benhabib and Spiegel (2005) model of logistic technology diffusion. The study...

Heterogeneous panel causality tests are employed to consider the relationship between urbanization change and economic growth (i.e., differenced logged GDP per capita). Income- and geography-based panels demonstrated substantial variation in that relationship. Urbanization caused economic growth...

This paper tests for a sulfur Kuznets curve by examining the sulfur emissions per capita-GDP per capita relationship individually, for 25 OECD countries over 1950-2005 using a reduced-form, linear model that allows for multiple endogenously determined breaks. This approach addresses several...

This paper tests for a carbon Kuznets curve (CKC) by examining the carbon emissions per capita-GDP per capita relationship individually, for 23 OECD countries over 1950-2010 using a reduced-form, linear model that allows for multiple endogenously determined breaks. This approach addresses...

Heterogeneous panel causality tests are employed to consider the relationship between urbanization change and economic growth (i.e., differenced logged GDP per capita). Income- and geography-based panels demonstrated substantial variation in that relationship. Urbanization caused economic growth...