The purpose of this paper is to give an empirical answer to two related but different questions: First, are economic growth and business cycles interdependent? Second, is money neutral even in the long run? Using data from the United States, this paper finds (using a VAR model) and presents...

This paper investigates the hypothesis that economic growth is critical in inducing well-being during economic reforms. The regional (16 Indian states and 28 Chinese provinces) level study of India and China show that the quality of growth has been essential for well-being. We estimate level of...

The Black Sea is a region of vital interest to the foreign investor. This study examines the six countries that border it (Russia, Ukraine, Georgia, Turkey, Romania, Bulgaria) and presents the financial outlook and the foreign direct investment performance of each state. The main focus is on the...

This paper provides an empirical evaluation of the impact of infrastructure development on economic growth and income distribution using a large panel data set encompassing over 100 countries and spanning the years 1960-2000. The empirical strategy involves the estimation of simple equations for...