This paper is a survey of some key variables with an international dimension and implications for growth and development policies in selected Pacific island countries. Results from a simple growth accounting exercise show that factor accumulation is the most dominant growth factor and that the...

Hall (1978) has stimulated considerable controversy and empirical work on testing the permanent income hypothesis (PIH). Much of the empirical work is on the developed countries where opportunities for inter-temporal substitution are generally higher than in the developing countries. Therefore,...

The demand for money, especially in the developing countries, is an important relationship for formulating appropriate monetary policy and targeting monetary variables. In this paper the demand for narrow money in India is estimated and its robustness evaluated. It is found that there is a...

Accurate estimates of the price and income elasticities of exports are valuable for growth policies based on trade promotion. However, not sufficient attention seems to have been paid to the specification of the relative price variable in some influential empirical works. This article estimates...

In the cross-country and time series studies on the determinants of the growth rate, capital stock is often proxied with the investment ratio due to lack of reliable data. While investment ratio may give good results with OLS, their robustness is doubtful. In addition there are other problems:...

Methodological controversies on the relative merits of estimating time-series models with alternative approaches exist. However, applied researchers may eventually opt for an easy to use and computationally less demanding approach. This article shows that the LSE/Hendry approach, known as GETS,...

Panel data methods are used to estimate the contribution of openness of trade to the long term or the steady state rate of growth of output (SSGR) of selected East Asia countries viz., Singapore, Malaysia, Thailand, Hong Kong, Korea and the Philippines. Since SSGR is unobservable, its estimates...

This paper uses a new specification and approach to estimate the effects of financial developments on the steady state rate of growth of output in India, Malaysia, Korea, Thailand and the Philippines for the period 1970 to 2006. These growth effects, though small, are found to be significant...

New panel data estimates for the four East Asian Tigers show that the contribution of total factor productivity (TFP) to growth is much higher than past estimates. An extended production function with learning by doing implies that TFP is about 3.5% and these countries will grow at this rate in...

It is argued that whether or not there is a need for unit roots and cointegration based econometric methods is a methodological issue. An alternative is the econometrics of the London School of Economics (LSE) and Hendry approach based on the simpler classical methods of estimation. This is...