Economic theory suggests that development is enhanced through income growth, which is driven through increased trade. However, the empirical evidence of such a relationship most of the times is proved to be weak. In this study we try to determine the factors influencing this relationship by...

Showing a dual relationship between ARIMA (0, 2, 1) with parameter θ = -1 and the random walk, a new alternative hypothesis in the form of ARIMA (0, 2, 1) is established in this article for evaluating unit root tests. The power of four methods of testing for a unit root is investigated under...

In this paper, the optimal pollution level is identified under the assumptions of linear, quadratic and exponential cost functions. The corresponding optimal level of environmental policy is evaluated, with analytical forms in the linear and quadratic case, while in the exponential case, these...