It has been argued that increased life expectancy raises the rate of return on education, causing a rise in the investment in education followed by an increase in lifetime labor supply. Empirical evidence of these relations is rather weak. Building on a lifecycle model with uncertain longevity,...

The development and dynamics of regional integration in Africa are severely influenced by the transformation of the trade relations imposed by the Cotonou agreement. Economic relations now based on unilateral trade preferences provided by the EU are envisaged to be based on Economic partnership...

This study empirically finds, using ECM, that the primary federal budget deficit shares a bi-directional relationship with the ex ante real interest rate yield on long term municipal bonds. That is, the primary budget deficit acts to raise the real municipal bond yield whereas that yield also...

The relationship between economic development and income inequality is not neutral vis-à-vis the role of the financial system in responding to the needs of different categories of agents. Indeed, as shown by the literature of the persistent inequality (e.g. Banarjee and Newman, 1993; Piketty,...

It is important to remove the discrepancies in data in the various segments of the manufacturing sector, namely, factory, non-factory, small, medium and large-scale sectors, to have a proper estimates of the state of manufacturing. These have an important bearing on estimated of the peprformance...

International capital markets tend to be characterized by volatility, which is always a function of world economic and political environment and is frequently associated with contagion risk and increased cross-market linkages. This phenomenon affects both developed markets and emerging markets,...

This article defines and characterizes the cooperative ‘sector’ in the Paraná economy and disaggregates the sector Agriculture and components of Food Industry of the input-output table, made for the state for the years 1980 and 1985, in Cooperative and non-cooperative. The aim of this...

The paper aims to present the Islamic appraisal of established theories in academic literature of development economics, both in classical and neo-classical economics. The paper also explains the Islamic concept of human development and shows it to be more welfare maximizing to humans in their...

In this paper, we reconsider the Foley model of Liquidity / Profit-Rate Cycles where such cycles are generated as bifurcations from initially attracting steady states if a parameter of the model crosses a critical value, for example the growth rate of money supply as in the Foley paper. We...

An understanding of how volatilities of and correlations between crude oil and macroeconomic variables change over time including their directions and size is of crucial importance for both the domestic and international investors with a view to diversifying their portfolios for hedging against...