The paper tests whether productive expenditures share a long run re- lationship with debt to GDP ratio by using a multivariate time series framework. The theoretical model is based on dynamic optimization of utility and productive expenditure with respect to capital and debt. Literature on...

The paper tests whether there exists an inverse long-term relationship between productive government spending and public debt in developing countries by using a multivariate time series framework. The theoretical model is based on dynamic optimization of utility and productive expenditure with...

This paper analyzes if the industrial policy framework of the Indian Government with regard to the proliferation of SEZs has satisfied its aims and objectives. The analysis however, shows otherwise. The empirical results show that the policy of the Indian Government has been lopsided, wherein...

The last two decades have seen increased divergence among the states of the Indian Federation in terms of their economic performance. This paper uses spatial econometric methods to examine how the regional pattern of growth has been influenced by the economic reforms implemented since the early...

This paper presents a game theoretic morphological analysis of the U.S. environmental authorities’ (i.e., EPA and DOJ) behavioural mechanisms, based on strategic interactions among the players. The models explore the role of discretion that such authorities enjoy, either in deciding how to...

This paper investigates the relationship between public capital expenditure and public debt in the European Union (EU) on a panel of fifteen countries over the sample period 1980-2013. We find robust evidence of a negative cointegrating relation, according to which increases in the capital...

This paper presents a model of coordination failures based on market power and local oligopoly. The economy exhibits a multiplicity of Pareto-ranked equilibria. The introduction of uncertainty generates an endogenous equilibrium selection process, due to a strategic use of information by firms....

The economic boom of the USA in the 1990s was remarkable in its duration, the sustained rise in equipment investment, the reduced volatility of productivity growth, and continued uncertainty about the trend growth rate. In this paper we link these phenomena using an extension of the classic...