This paper seeks to examine the impact of corruption on economic growth in Lebanon. Using a neoclassical model, we hypothesise that corruption reduces the country's standard of living as measured by real per capita GDP. We show that corruption deters growth indirectly through reducing the factor...

There is potential for over-provision of environmental harms and under-provision of environmental benefits associated with GM crops. As a result, strong public regulation is needed to ensure that full social values are considered. However, one reason for opposition to GM crops is a lack of...

In this paper, we use a simulation model to measure the potential market and welfare effects of recently introduced genetically modified (GM) canola in Australia. The short-run results indicate that non-GM canola may emerge as a niche product commanding a premium. In the long run, GM technology...

Literature regarding the pricing efficiency of Australian wholesale vegetable markets is very limited. The objective of this paper is to test whether or not vegetable products traded in these markets are priced efficiently and satisfy the law of one price (LOOP). To that end, the price...

In this paper, we extend the Solow growth model to include corruption as a determinant of the multifactor productivity using a Cobb-Douglas production function framework. In addition to the classical components of any growth model (output, labor, capital), we incorporate corruption as a...

Stocks of Australian wine, at an industry level, have considerably exceeded sales for many years. However, all varieties and regions are not the culprits of this oversupply. The mismatching of supply and demand can be attributed to a lack of adequate market information, particularly at the...

A plethora of approaches to modeling market power has been reported in the literature. These can be broadly divided into one-side and two-side behavioral models. This paper uses versions of these models to develop a theoretical framework to test market power in the output and input markets in...