A mixture of political and economic reasons in support of what eventually came to be known as European Union (EU) were also evident in its recent expansion. Under the politico-military umbrella of NATO , the principles of capitalism were strengthened in Europe, and by extension the interests of...

This paper examines the demand for money using panel data for 48 countries over the 1980-95 time period. In our examination of the conventional money demand function, we begin by empirically exploiting traditional panel methodology and fi nd support for heterogeneity among the countries....

A historical and theoretical examination of the Maastricht convergence criteria for the period 1971 to 1998 produced relatively similar results. By 1998 most of the European Union countries satisfied these criteria. Progress in countries like Greece, Italy, Finland, and Sweden was weak regarding...

The interaction of the export ratio and the investment ratio, including foreign direct investment ratio, with income per capita was examined for all members in the EU using Granger-causality tests. Best results were obtained when the investigated variables were expressed in levels. These results...

Estimates in the framework of a basic neoclassical Cobb-Douglas production function using annual data showed the existence of increasing returns. Furthermore, there was evidence of an increasing importance of capital, especially in the 1980s. Our results also suggest the importance of embodied...

The Canadian long-run investment-saving relation is examined in this paper using the Feldstein-Horioka framework. Our results, which extended beyond the aggregate national behavior to that of the private and public sectors, suggest that by and largo the correlation between domestic investment...

In this article we examine money demand issues using cross-country data, for 48 countries over the 1980-1995 period. In particular, we investigate conventional money demand functions, for both narrow and broad aggregates, and the role that institutions, financial structure and financial...