The increase in sea surface temperature (SST) is one of the primary consequences of climate change and has the potential to impact tuna fisheries. This paper theoretically models and then applies the production function approach to establish a positive but non-linear relationship between catch...

Motivated by the observed international reserve hoarding behavior in the post-1997 crisis period, we explore the Mrs Machlup's wardrobe hypothesis and the related keeping-up-with-the-Joneses argument. It is conceived that, in addition to psychological reasons, holding a relatively high level of...

The paper investigates the impact of exchange rate volatility on growth in Emerging Europe and East Asia. Exchange stability has been argued to affect growth negatively as it deprives countries from the ability to react in a flexible way to asymmetric real shocks and may enhance the probability...

Motivated by the observed international reserve hoarding behavior in the post-1997 crisis period, we explore the Mrs Machlup's wardrobe hypothesis and the related keeping up with the Joneses argument. It is conceived that, in addition to psychological reasons, holding a relatively high level of...

In last few decades, Asian production networks have contributed significantly toward the rapid trade expansion and economic growth in East Asia. Developed Asia produces technology-intensive intermediate goods and capital goods and ships them to the People Republic of China (PRC) and ASEAN for...

High income growth in many countries in East Asia and the Middle East has been accompanied by increasing income inequality and widening gaps between rich and poor, and urban and rural. It is therefore it is important to examine the interrelationships between inequality and economic growth. This...

We compare and contrast the economic growth performance of Estonia and Georgia since the collapse of the Soviet Union in 1991 in an attempt to understand better the extent to which the growth differential between the two countries can be traced to increased efficiency in the use of capital and...

Slower growth of the labour force and an increase in old-age dependency will reduce the growth of aggregate output and output per capita in many developed countries. However, a major question is whether there is any systematic link between demographics and the productivity of those who will...

Research on the elasticity of substitution between capital and labor - ó - has been proceeding for 75 years. While there is clearly a strong case for the importance of ó in the analysis of growth and other economic issues, much less agreement exists on the value of ó. This paper offers some...

This paper provides a comprehensive empirical assessment of the relation between the cyclicality of fiscal policy, output volatility, and economic growth, using a large cross-section of 88 countries over the period 1960 to 2004. Identification of the effects of (endogenous) cyclical fiscal...