This paper investigates the dynamic causal relationship between financial development, energy consumption and economic growth in Lebanon over the period 1993M1-2010M12.Our findings confirm the existence of cointegration among the variables. The results indicate that financial development and...

In this study we quantified the welfare cost of inflation from the estimated long-run money demand functions for Pakistan for the period 1960-2007 using cointegration approach. The empirical results show that all the monetary aggregates are negatively related to the interest rate. The welfare...

The international markets have been the major influence spurring economic growth and development in the Malaysian economy even until today. There were two sources of growth, namely foreign capital and exports of commodities. The government particularly beginning in 1971 moved to develop human...

This paper investigates the relationship among energy, emissions and economic growth in Malaysia with the presence of trade activities. We employ Johansen’s (1995) approach to investigate the relationship. Using annual data from 1971 to 2007, the empirical results shows that there are long-run...

A sufficient and appropriate degree of central bank independence is widely acknowledged to be necessary for the goal of achieving price stability. However, despite the levels of independence claimed to be enjoyed by several central banks, recent events indicate shifts in focus of monetary policy...

Purpose – While in developed economies, changes in monetary policy affect real economic activity in the short-run but only prices in the long-run, the question of whether these tendencies apply to developing countries remains open to debate. In this paper, we examine the effects of monetary...

A conventional reading of economic history implies that free market reforms rescued the world’s economies from stagnancy during the 1970s and 1980s. I reexamine a well-established econometric literature linking economic freedom to growth, and argue that their positive findings hinge on two...

The present contribution focuses on two issues. The first one concerns the characteristics of industrial districts and the increasing weight of these districts in the Italian system of production. The second issue is about the competitiveness of the Italian industrial districts, if they...

The behavior of following the most in vogue and admired styles of dressing has been there since the ancient times. With time, people have moved on with the rapid change in the surroundings. Both the genders acknowledge fashion. Fashion is an extension of regular clothing. This paper investigates...

This is a pre-publication version of London’s Creative Sector: 2007 Update, published by the Greater London Authority (GLA) in 2007 and located, at the time of this report, at http://www.london.gov.uk/mayor/economic_unit/docs/wp_22_creative.pdf. It should be cited as Freeman, A. (2007)....