This study examines the determinants of worker’s remittances. Variance decompositions, impulse response functions and Granger causality tests derived from a vector error correction model are used to test if remittances are affected by the macroeconomic conditions of the host (remittance...

The existing literature on the sources and nature of productivity growth during the early industrialization stages of U.S. has identified the combination of intellectual property rights (IPRs) with a large middle class and broad participation in markets as explanations for the extraordinary...

The growth effects of intellectual property right (IPR) protection are examined in a quality-ladder model of endogenous growth. Stronger IPR protection, which reduces the probability of imitation, raises the reward for innovation. However, stronger protection reduces the number of competitive...

When the home country introduces a patent law after the winner of the patent race is known the country's welfare may rise only if the domestic firm wins. If the home country decides before the patent race ends, the welfare may be increased when the probability that the domestic firm wins is...

The economics of information goods suggest the need for institutional intervention to address the problem of revenue extraction from investments in resources characterized by high fixed costs of production and low marginal costs of reproduction and distribution. Solutions to the appropriation...

This paper explores the features of a dynamic multisectoral model which focuses on the relationship between income distribution, growth and international specialization. The model is explored both for the steady- state properties and the transitory dynamics of integrated economies. Income...

The captioned article was earlier published in “Economic Horizons” volume 18, #72 – AH 1418 – 1997 (4) Pages (65-78). I had some concerns about the article regarding the methodology adopted for analysis in deriving the macroeconomic parameters and the derivation and interpretation of...

The paper addresses the question, whether the increasing current account deficit has negative impact on American economy and society. Using data for American economy in years 1967 – 2005, it will be shown that perceived welfare effects, as measured by changes in Consumer Confidence,...

As a prelude to tariff reduction, the government is currently assessing the implications of significantly reducing tariffs due, in part, to its 2001 agreement with Ghana to quickly implement the ECOWAS Trade Liberalization Scheme. The obvious questions are: Should Nigeria liberalize to all...

Strategies for trade liberalization in developing countries when time preference rates are heterogeneous across countries are examined in the context of endogenous growth. The paper concludes that the best strategy for a developing country with the higher rate of time preference is generally the...