Since the 1960s, the relative importance of monetary and fiscal policy in economic stabilization has been a matter of debate among monetarists and fiscalists. According to the monetarists’ view, monetary policy has had a more significant role than fiscal policy. On the other hand, the...

In this paper, we investigate differences in and determinants of technical efficiency across three groups of OECD, Asian and Latin American countries. As technical efficiency determines the capacity with which countries absorb technology produced abroad, these differences are important to...

This paper examines the determinants of technological catching-up across 63 countries over the period 1982-2000 using a two staged approach. In the first stage, a measure of the technology gap between countries and the global technology frontier is computed. A positive growth of this measure is...

Using an unbalanced panel dataset of bilateral trade flows, we study the determinants of bilateral trade of ASEAN 10 countries, Australia, China, India, Japan, New Zealand, and South Korea, from 1989 to 2009. We find that bilateral trade flow is positively related to the overall bilateral...

Spatial inequality in global economic development has left Africa with the least progress in improving living standards among developing regions of the world. Moreover, there are strong neighborhood effects within Africa. This paper revisits the explanation of unequal growth across countries in...

This analysis focuses on determining the role of those factors that are exogenous to the environmental Kuznets curve (EKC) model in counteracting the scale effects (effects of the increase in GDP ceteris paribus) on CO2 and sulphur emissions. For this purpose, first, the EKC model is estimated...

This paper investigates the possibility of interdependence between flows of US FDI to the ASEAN region. The study incorporates information asymmetry into an FDI model to examine the influence of geographic neighbors on new flows of FDI from the United States. Spillovers are modeled using the...

The aim of this paper is to study the potentially simultaneous relationship between income inequality and growth volatility for seventy countries between 1960 and 2002. Two types of analysis are performed; a cross-sectional analysis based on country averages of all available annual observations,...

In this paper we follow an empirical approach to examine the implications of the Fisher hypothesis, namely cointegration linking interest rates and in°ation, and stationarity of the real interest rate implying in turn homogeneity of the potential equilibrium relation. The considered sample is...

This paper adopts the MIMIC approach to estimate the relative development of corruption in 23 OECD countries for the period 1975-1993. The results indicate that Japan, Portugal, Spain, Greece, South Korea, and Turkey face with relatively high level of corruption while Netherlands, Norway,...