This paper tests the frequently cited hypothesis that money is more productive in a developing economy relative to a developed economy. Output elasticity of money is estimated for 20 countries over the 1977-92 sample period. These countries represent various stages of economic development. Two...

This paper tests the impact of international investment restrictions on closed-end country funds in four Asian countries - Hong Kong, Korea, Singapore and Taiwan. The results show that the relationship between the premiums or discounts on closed-end country funds and announcements of changes in...

A general hypothesis regarding the impact of permanent income levels and business cycle fluctuations on divorce rate at the state level in the United States is analysed in this article. Based on the data for 45 states over the sample period of 1978--2009, it is shown that the higher the level of...

The use of margin requirements as a potential policy tool for controlling sudden stock price changes and market volatility has attracted considerable attention in the developed stock markets. However, no consensus has emerged regarding the significance of the impact of changes in margin...

This paper investigates the relationship between money, prices, output, and the exchange rate in Bangladesh during the 1974-92 period. Several interesting conclusions can be derived from the paper. First, the inflationary process in Bangladesh cannot be explained exclusively by the monetarist or...

This paper investigates the influence of different factors on income velocity of money in 23 developing countries for the 1955-88 period. The results show that inflationary expectation raises income velocity in an agricultural developing economy.