The causality between energy consumption and real income in developed countries has been a very vital research topic in recent years. Raising concerns about climate change and global warming increase the pressure on policy makers to take action against energy depletion. Unfortunately these...

The standard vector error correction (VEC) model assumes the iid normal distribution of disturbance term in the model. This paper extends this assumption to include GARCH process. We call this model as VEC-GARCH model. However as the number of parameters in a VEC-GARCH model is large, the...

Corruption undermines economic development and therefore it is one of the major factors hindering economic growth and political stability, especially in the developing countries. Studies in recent years show that countries with rich natural resources have the potential to shape corruption....

Una de las diferencias esenciales en las alternativas de conformación futura de una economía nacional, está dada por la resolución de las tensiones internas en algunos de sus escenarios intermedios productivos. La ambivalencia interna conlleva, en situaciones, a la baja productividad e...