This paper examines investment lumpiness under incentive restrictions. When financial frictions enter the picture into the neoclassical framework, investment is no longer smooth due to the lump-sum costs that the firm incurs when raising costly external finance. Whited (2006) shows that the firm...

This paper investigates statistical relationships between economic growth, foreign direct investment (FDI) and trade openness, using panel-VAR methods in relation to ten significant OECD countries: Austria, Canada, Finland, Iceland, Ireland, Japan, Norway, Spain, Switzerland and the USA, between...

This study empirically examines the role of regulatory quality in explaining the differences in economic growth rates of the twenty three OECD countries over the 1996-2008 period. The model we adopt is a generalized version of the growth accounting, production function model of Solow in which...

The study analyzed dynamics of the relationship between tourism, energy consumption, and climate change for 25 OECD countries during 1995-2005. For the analysis, Panel VAR (PVAR) model was used. Results of panel unit root-tests show that tourism is nonstationary in the level form but stationary...

The purpose of this study is to investigate the determinants of the international tourism demand to Turkey. For this purpose, the tourism demand from selected 24 OECD countries to Turkey is estimated by using panel data approach for the period of 1990-2010 and 1990-2008. The tourist arrival from...

Discusses the impact of structural adjustment measures on the quality and financing of education.

ILO pub. Article on microelectronics training needs in the metalworking industry - considers the difficulties of vocational training machinery in most countries following rapid technological changes accompanied by new skill requirements, and the implications for employment adjustment, and...

ILO pub. Article on a comparison of public sector employment creation programmes in several OECD countries - describes types of sponsors and projects, objectives of reducing unemployment, characteristics and duration of participation, impacts on wages and inflation as well as programme...

Traditional theories of integration such as the optimum currency area approach attribute a prominent role to international labour mobility in coping with relative economic fluctuations between countries. However, recent studies on international migration have overlooked the role of short-run...