The paper analyses the dynamic interaction between the public sector expenditure and national income in India for the period 1960-61 to 1996-97. It finds a stable long-run relationship between public sector expenditure and national income in India, with the causality running strictly from the...

Productive utilization of youth is of critical importance for variety of reasons. Youth being the new entrants in the labour force offer an opportunity as well as a venue to elevate the employment structure to achieve higher levels of productivity. A prolonged spell of youth unemployment results...

This paper proposes a model of individual choice that does not assume completeness of the decision maker's preferences. The model helps explain in a natural way, and within a unied framework of choice in the presence of preference-incomparable options, three distinct behavioural phenomena: the...

Recent political transformations in Arab countries suggest that solutions have to be found for the problem of lacking economic prospects and particularly of high youth unemployment. Such solutions have to consist of economic growth that unfolds widespread employment effects. A tourism policy...

The condensed research article presents some innovative research results on the venture capital optimal investment portfolio strategies selection in the diffusion-type financial systems in the imperfect highly volatile global capital markets with the incomplete information, which are...

A short-run model incorporates instantaneous portfolio equilibrium with macroeconomic flows to clarify the structure of real-financial sector interactions. If equity and foreign exchange markets are introduced in structuralist theories of asset markets in developing countries, the key result...

The development of a reliable procedure for the aggregation of individual level happiness leads to a proper understanding of group level happiness. Such a procedure is indispensable for a more responsive public policy-making. However, individual self-reports on happiness must meet the dual...

The capital structure puzzle still remains unsolved. Every year there are many incidences of firms, reporting very high and risky levels of debt ratios. Since debt has tax advantages over other sources of capital, this paper employs simulated marginal tax rate (MTR) and its variants to study the...

This paper models the People’s Bank of China’s operating procedures in a two-stage vector autoregression model to search for a valid good policy indicator for Chinese monetary policy. The model disentangles endogenous components in changes in monetary policy that are driven either by demand...

This brief applies a simple framework for assessing the relative potential for Rotary membership growth in different geographic areas. The analysis is relative in that areas are compared to each other through an econometric procedure. By design about half of the areas are considered as...