The aim of this paper is to examine the stability of income elasticities used in Thirlwall's law to approximate a country's long-term growth and to see empirically how non-constancy will affect these predictions. For this purpose, three countries - Canada, New Zealand and the UK - are analysed,...

The Gauss-Newton regression (GNR) tests for autoregressive (AR) processes are based on the asymptotic theory. Consequently, their finite sample properties are not known. The objective of this paper is to remedy this by undertaking a Monte Carlo study. It is hoped that the results reported will...

The main objective of this short paper is to measure the impact of increases in total, federal and state government expenditures on private investment in the USA. For this purpose a framework based on a variable elasticity approach is used and tested. The results obtained conclusively support...

This study introduces and tests a new CES production function approach using data from five major branches of the Soviet industrial sector. The estimated equations obtained suggest that the Cobb-Douglas production function is the appropriate production function for all branches under...

This paper is mainly concerned with measuring absolute and relative roles of diffusion of advanced technology and capital deepening in economic growth. The results obtained suggest an inverse U-shape relationship between productivity growth rates and levels of economic development. These results...

In this paper, the author provides estimates of the rate of technical progress and the degree of returns to scale experienced by the nine major branches of Soviet industry. The results reveal that different production functio ns (the Cobb-Douglas, CES, and Kmenta approximation) and different es...

The results reported here show that the aggregate figures used in the literature are not adequate to analyse the behaviour of inventories over time. Researchers can obtain more reliable and useful results if they investigate the inventories-sales behaviour at disaggregate level. The disaggregate...

In this paper the theory of technical progress functions is briefly examined and its appropriate shape is tested. The main conclusion reached is that linearity is not supported by the data.