This paper studies the dynamics of the Taka-U.S.Dollar exchange rate for Bangladesh by augmenting the Quantity Theory of Money. The standard cointegration methodology (Engle and Granger, 1987) is employed in addition to the ARDL (Autoregressive Distributed Lag) procedure. The ADF and KPSS tests...

Applying the VAR model and using the Treasury bill rate as a monetary policy tool, we find that in the long run, output for Singapore responds positively to a shock to lagged own output and negatively to an innovation to the Treasury bill rate, government debt as a percent of GDP, appreciation...

The paper examined the short- and long-run relationships between short-term external debt and economic growth in Thailand over the period 1970-2003. The ARDL-bounds test procedure to co-integration was used. Results reveal that real STED and real GDP are correlated positively and significantly...

This paper takes a holistic look at the media sector and establishes that press freedom along with reach reduces political instability. Greater reach of media furthers the cause of a free press. It generates an informed populace and increases government responsiveness. The hypothesis is...

Following Solow's (2001) recent advice, this paper takes productivity as the left-hand-side variable and offers a cross-country analysis of its determinants. The analysis follows the two-stage methodology, the first of which is devoted to obtaining productivity estimates, and the second stage is...

The widespread acknowledgement of the centrality of micro and small businesses in the development process has led to a proliferation of projects and programs designed to assist and promote these businesses. This research examines the common assumption that access to credit from formal financial...

Recent literature has debated possible adverse impacts of aid volatility on a country's economic performance. Our paper adds to this literature in three ways: First it tests the validity of the aid volatility and growth relationship from various aspects: across time horizons, by sources of aid,...

This paper reviews new growth theories (NGT) from the perspective of developing countries. It shows that despite some views to the contrary, NGT and the growth debate that it spawned have some useful lessons for developing countries. Some of these lessons and ideas were indeed available from...

This paper presents the economic development of Guyana, from several novel analytic technical perspectives. The development spans three dominant regimes in Guyana, starting just before its independence from Great Britain in 1966. The country has moved from a colonial type of development strategy...

In this paper we attempt to analyze the impact of an integrated microcredit program on the empowerment of women in rural Vietnam. We conduct a longitudinal study in 2008 and 2012 on a sample of 50 microcredit recipients. The finding indicates the importance of the empowerment components in the...