In this study, we use firm-level data from the 1993 National Survey of Small Business Finances to test the hypothesis that banking consolidation has reduced the availability of credit to small businesses. We find that banks in markets where mergers have occurred are more likely than other banks...

After September 2008, the advanced economies severe decline caused demand for emerging economies’ exports to drop and the crisis became truly global, much deeper and broader than expected. In these times of global depression, most countries and companies are affected, some more than others....

The purpose of this paper is twofold. First, it presents a very concise way of measuring fiscal stance. This procedure is based on the assumption that the ‘neutral change’ in the government budget can best be simulated with a long-term approximation of the underlying trend of total output....

This paper employs a unique large-scale longitudinal (1997–2005) dataset to investigate the pattern of foreign market entry by 6,079 Canadian exporters. We have found that fewer firms are choosing the United States as their initial export destination. This trend suggests that a growing number...

From 1865 to 1870, a crisis atmosphere hovered around the issue of the massive public debt created during the recently concluded Civil War, leading, in part, to the passage of a Constitutional Amendment ensuring the “validity of the public debt.” However, the Civil War debt crisis was not a...

The recent trend of globalization has given rise to a new paradigm in international economics, i.e. the simultaneous exports and imports of a product within country or a particular industry called intra-industry trade (IIT) or two-way trade. This study examines country-levels determinants of...

The relationship between the US and Asia will be the single biggest determinant in the evolution of the global economic system. In the absence of adequate reform at the global level, the alternative could be further fragmentation into competing regional blocs. Asia holds the key, combining both...

This study examines the violent crime convergence among the fifty one states in the United States. The chosen method for this analysis is nonlinear unit root test due to Kapetanios et al. (KSS, 2003), which was later extended by Chong et al. (CHLL, 2008). KSS-CHLL nonlinear unit root was applied...