Economic development was from the very beginning the focus of classical political economy and presently retains its original human welfare mission and intellectual attraction through insightful anthropological, sociological, and historical investigations.1 Within the context of complex and...

A historical and theoretical examination of the Maastricht convergence criteria for the period 1971 to 1998 produced relatively similar results. By 1998 most of the European Union countries satisfied these criteria. Progress in countries like Greece, Italy, Finland, and Sweden was weak regarding...

The interaction of the export ratio and the investment ratio, including foreign direct investment ratio, with income per capita was examined for all members in the EU using Granger-causality tests. Best results were obtained when the investigated variables were expressed in levels. These results...

Estimates in the framework of a basic neoclassical Cobb-Douglas production function using annual data showed the existence of increasing returns. Furthermore, there was evidence of an increasing importance of capital, especially in the 1980s. Our results also suggest the importance of embodied...

The Canadian long-run investment-saving relation is examined in this paper using the Feldstein-Horioka framework. Our results, which extended beyond the aggregate national behavior to that of the private and public sectors, suggest that by and largo the correlation between domestic investment...

Macroeconomic Policy in the Canadian Economy investigates developments in Canada over the last forty years, using recent advances in the field of applied econometrics. In particular, the book analyzes the theoretical foundations of public sector activities and evaluates the several theories of...