Some recent research has reported results more favourable to long-run purchasing-power parity (PPP) for exchange rates within the European Monetary System (EMS) than for those outside it. This is inconsistent with the predictions of theories that regard the EMS as a means of acquiring...

Purpose – This paper seeks to assess the importance of time-varying regional patterns to countries' per capita growth rates, and their effect on the conclusions that can be drawn from growth regressions. Design/methodology/approach – Pooled ordinary least squares on a data set of five-year...

Purpose – Penn World Tables (PWT) data on output measured at international prices are the data most frequently used in cross-country growth regressions. These data are subject to revision, and the amendments can be substantial for a minority of countries, although negligible for most. The...

Purpose – This paper seeks to assess the importance of time‐varying regional patterns to countries' per capita growth rates, and their effect on the conclusions that can be drawn from growth regressions. Design/methodology/approach – Pooled ordinary least squares on a data set of...

Purpose – Penn World Tables (PWT) data on output measured at international prices are the data most frequently used in cross‐country growth regressions. These data are subject to revision, and the amendments can be substantial for a minority of countries, although negligible for most. The...

Some recent research has reported results more favourable to long‐run purchasing‐power parity (PPP) for exchange rates within the European Monetary System (EMS) than for those outside it. This is inconsistent with the predictions of theories that regard the EMS as a means of acquiring...