The purpose of this paper is to study the direction of causality between the stock market and macroeconomic variables. India is taken as a case study. Although, there have been many studies which attempted to find out the relationship between Indian stock market and economic variables, this...

This paper seeks to close the gap of the lack of empirical evidence surrounding the different impact of conventional interest rates on Islamic finance components – Islamic stock markets, Islamic banking and Islamic insurance (called takaful). Such evidence remains imperative in order for the...

Generally, Shariah (Islamic) indices are considered to have lower portfolio betas relative to conventional ones. The lower portfolio beta of Islamic indexes is a logical result of Shariah screening. As Shariah screening eliminates stocks with high financial leverage, the resulting portfolio beta...

Econometricians had been blamed for the financial crises that occurred due to their giving a ‘false hope’ to investors and policy makers using untested theoretical assumptions. Therefore, econometricians had been challenged to reform their studies by grounding them more solidly on reality....

The Kyoto Clean Development Mechanism (CDM) is the first “global” and largest carbon offset instrument, supplementing national or regional cap and trade systems such as the European Union’s Emission Trading Scheme (EU ETS). This paper draws on weekly IDEACarbon survey data from 2008 to...

This book is a comprehensive guide to the Millennium Round of multilateral trade negotiations which will be launched at the Third WTO Ministerial Meeting in Seattle in early December 1999. It deals in a readable way with the many difficult and controversial issues that will arise during the...

This paper examines the need for the parent and grandparent immigration program in Canada and provides critical observations on its objectives and operations and offers empirical estimates on its costs. And, as a contribution to the Government’s recently launched consultations on how to...

The paper examines the data for Canadian exports to the United States that have been cited as prima facie evidence of a "thickening of the border." It estimates that Canadian exports of goods, excluding energy and forestry products, to the United States have been 12.5 per cent lower than would...

This paper considers the meaning of full employment and attempts to gauge the appropriate level of "sustainable" full employment. The second section of the paper reviews the various theories of employment that have been applied to gain an understanding of the concept of full employment. The...

This paper presents the simplest supply-and-demand textbook model of how immigration works in a market economy (Borjas, 1999, pp.89-93). While it may be oversimplified in that it assumes that all labour is homogeneous and that machinery and equipment, land, and other productive resources are...