Understanding the causal relationship between financial development and economic growth is important in enhancing the economy of a nation. Using the autoregressive distributed lag (ARDL) bounds test approach, this study finds that stock market development is cointegrated with economic growth in...

Over the last two decades MENA countries as much of the developing countries have experienced a wave of liberalization of financial sector. The purpose of this paper is three fold: to review the literature on the rationale for financial repression, examining why governments adopt financial...

China’s growing demand for oil is significantly changing the international geopolitics of energy, especially in the Asian Pacific region. The recent growth in oil consumption, combined with forecasts of increased oil imports (especially from the Middle East), have led to deep concern among...

The Commission was asked to review the National Third Party Access Regime for Natural Gas Pipelines. The review sought to assess the benefits and costs of the Regime, including its effects on investment. The Commission’s preliminary findings were released for public comment in December 2003...

In this paper we empirically analyse the linkages among growth, investment and reforms in the South East Asian countries, in the North Africa and in the non CFA Sub-Saharan Africa economies over 1970-89 to 2003. These regions differ considerably among them selves as well as with regard to the...

A model is used to study the impact of ownership on productivity and wages. Data on private and public manufacturing in Turkey during the 1950-1998 period indicate that productivity is higher in the private sector.There is a close relationship between wages and productivity in the private...

One strand of the recent literature on the monetary transmission process has focued upon the weak empirical evidence of a liquidity effect in the U.S. This study uses structural VAR methods to reexamine the liquidity effect.