Policymakers in the developed and developing countries already heading toward medical tourism to stimulate economic growth. Nonetheless, the actual impact of medical tourism on economic growth remains ambiguous. Although medical tourism may spur economic growth via its impact on foreign currency...

This paper compares more direct measures of the institutional environment with both the instability proxies used by Barro (1991) and the Gastil indices, by comparing their effects both on growth and private investment. The results provide substantial support for the position that the...

This study attempts to examine the dynamic relationship between private domestic investment (PDI), the user cost of capital, and economic growth in Malaysia over the period of 1970 to 2009. Johansen cointegration test suggests that PDI, the user cost of capital, and economic growth are...

This paper makes two contributions to the literature. First, it introduces a new, easily accessed and objective measure of the enforceability of contracts and the security of property rights. Second, it uses this measure to provide additional and more direct evidence about the importance of...

The intention of this study was to investigate whether the causal inference between savings and economic growth in Malaysia is sensitive to the particular causality tests employed to ascertain the causal relationship. This study covered quarterly data from 1991:Q1 to 2006:Q3. The results...

We reconstruct a dataset used by Persson and Tabellini (AER, 1994) to test the robustness of their finding that inequality reduces income growth, but only in democracies. We find that their result is highly sensitive to the use of data sources on both democracy and inequality. When we substitute...