This paper examines the determinants of economic growth, income inequality, and their relationship in the context of education inequality. The econometrics indicate that a higher level of human capital and the relative dispersion of human capital have a disequalizing relationship with income...

In his Inquiry into the Nature and Causes of the Wealth of Nations Adam Smith (1776) considered the phenomenon of division of labor so enormously significant for the creation of a nation’s wealth that he devoted the first three chapters of his book to an investigation of this process. This is...

Building upon earlier work by Willenbockel (2013; MPRA Paper No.51501), this study provides an extended ex-ante computable general equilibrium (CGE) assessment of the Tripartite Free Trade Agreement between the member states of the Common Market for Eastern and Southern Africa, the East African...

Can governments still use trade to reward and punish partner countries? While WTO rules and the pressures of globalization restrict states' capacity to manipulate trade policies, politicization of trade is likely to occur where governments intervene in markets. We examine state ownership of...

The authors turn to the large family of institutions that came into existence in post-Soviet Eurasia (and, in some ways, beyond it) over the last two decades. The researchers review their current state, agenda, real and perceived mandate, and their respective achievements and constraints. The...

The overview analyses the results of the country studies undertaken by the ILO’s Asian Employment Programme with the aim of contributing to the evolution of a policy framework for labour intensive development for ASEAN. These country study results are examined in the context of the...

The profit and loss sharing system allows bank to share risk with client in Islamic banks. Moreover Islamic banks are required to operate as per Islamic Rules and principles. Unlike Islamic banks, conventional banks operate based on interest. The income of conventional banks is the difference...

This paper extends the unit root test of Christopoulos and Leòn-Ledesma (2010) to accommodate not only structural breaks and non-linear mean reversion, but also the contemporaneous cross-sectional dependence commonly found in panel dataset. The proposed test presents good finite sample...

This paper examines the benefits of regionally and globally diversified portfolios from the perspective of investors holding domestic-only portfolios from different Asia-Pacific countries. Three groups of regional portfolio are constructed, with sorting based on relative strength ranking...