<title>Abstract</title> This paper proposes a study on the contribution of external debt to the expansion of economic growth for 31 developing countries. Over a period of 36 years, by using dynamic panel data econometrics estimation GMM-system, the results reveal that the accumulation of external debt is...

<title>Abstract</title> The main analytical contribution of this paper is to analyze the cost of the decision to jointly hold reserves and sovereign debt. By analyzing the impact of holding reserves and sovereign debt on sovereign credit ratings will provide the evidence of the costs of holding reserves and...

We re-evaluate Andreu and Spanos's findings in favour of trend stationarity by considering the extended Nelson-Plosser data set. This expanded (to 1988) data set includes a period of rather different behaviour compared with the original Nelson-Plosser data used by Andreou and Spanos. We find...

A long-standing issue in industrial economics is the understanding of the relative prevalence of labor-managed firms (LMFs) and capitalist firms across industries. In proportionate terms, LMF entry tends to be highly concentrated in particular industries. We provide empirical evidence on this by...

Panel data on the entry of labour-managed firms in the Basque Country are used to test for the presence of agglomeration externalities. A variety of controls are employed to deal with the identification problem that confronts any attempt to measure such effects. Consistent with theoretical...