It seems that the random-walk property of stock prices is well established. However, some studies argue that the mean reversion of the stock prices has its theoretical and empirical support and the conventional unit-root tests have weak power against stationary alternatives. This paper uses...

This paper provides empirical evidence concerning the long-run properties of expected real interest rate and nominal interest rate as a predictor of inflation using US and UK data from 1803 to 1990. It is found that we can reject the null hypothesis of constancy of ex ante real interest rate for...

This article employs a smooth transition autoregressive model to investigate the effects of government size (measured as the share of government consumption expenditure in gross domestic product) on economic growth using South Korea, Malaysia, Singapore, Taiwan and Thailand as sample countries...

Given the discrete nature of the outward foreign direct investment (FDI) data, the count data regression models are set up as vehicles for our empirical work. We propose and test various econometric specifications that address the main problems inherent in the traditional Poisson regression....