This dissertation focuses on issues related to economic globalization and its implications for the domestic economy. The first two chapters pertain to international financial integration, while the last chapter studies the impact of interprovincial migration in China as a result of...

Using foreign currency long-term sovereign rating data from 93 countries and for more than 30 years, panel data econometric analyses show non-monotonic relation between pro-cyclicality of government consumption and sovereign risk scores. That is, countries with limited access to foreign credits...

In theory, trade intensity should positively affect the quality of domestic institutions and governance; the higher the economic openness, the lower the corruption. In practice, however, the growth of economic openness has not been accompanied by the expected improvements in corruption for 34...

This paper presents a modified two-gap model and analyses the impact of international trade and domestic savings on the economic growth in the transition countries. The model indicates that economic growth is constrained by domestic savings when the domestic savings are relatively scarce,...

While paying careful attention to the stochastic properties of income process, this paper tests the joint rational expectation and permanent income hypothesis (RE/PIH) to clarify how and to what degree financial integration delinks national income and consumption. It is shown that both the OECD...

This paper empirically explores Japanese child-bearing households’ choices of childbirth months and the problem of children waiting for available childcare services, which can hinder the continued employment of women. We estimate the effect of the ratio of children waiting for childcare...

Via partnership agreements, the EU provides African countries with access to its markets, and asks for compliance with a given set of good governance norms and procedures. While the EU markets are significant for African countries, African markets are not significant for the EU: This asymmetric...

This study empirically explores the following issue: Does corruption fuel conspicuous consumption? It examines the existence and magnitude of any potential corruption-effect on conspicuous consumption expenditure. Regression analyses of an unbalanced panel data for 20 OECD countries between 2004...

This study examines how rising interprovincial migration with diverse education backgrounds affects new human capital formation in China in the 1990s. Consistently with a simple model of migration-oriented investment and disinvestment in higher education, we identify that gross outflow migration...

This study develops a dynamic stochastic general equilibrium model to account for the differences in fiscal policy stance over the business cycle between developed and emerging market countries, and, in particular, for the volatile and procyclical government consumption and transfer payment in...