The present paper investigates whether popular measures of economic freedom used in regression analyses by development economists and others are one dimensional. Using the indices provided by the Fraser Institute, Heritage/Wall Street Journal, and Heritage and Freedom House, a principal...

The hypothesis of tax-and-spend, spend-and-tax, or fiscal synchronization was tested using annual time series data for China over the period 1977 to 1999. We include GDP as a control variable into the model like Baghestani and Mcnown (1994), Koren and Stiassny (1998), and Chang et al. (2002)....

This paper uses a robust estimation method referred to as the unrestricted error correction model - the bounds test analysis to re-analyze the long-term relationships between the demand for imports and it¡¯s determinants for South Korea over the period 1980-2000. Our results show that the...

In this empirical note we use a more powerful nonlinear (logistic) unit root test advanced by Leybourne et al. (1998) to investigate the hysteresis in unemployment for ten European countries for the period 1961-2003. The hypothesis is confirmed for all the European countries for which Leybourne...