This paper investigates the impact of the relative growth of skilled migration on the structure of Australian wages. Unlike conventional approaches, the present study uses macro data to examine the response of wages to immigration flows. We use instrumental variable (IV) techniques to deal with...

We explore worldwide foreign direct investment location decisions by Japanese manufacturing firms from 1985 through 1991. Our conditional logit estimates provide evidence that firms’ location decisions are affected by membership in either vertical or horizontal keiretsu. Consistent with...

Immigration leads to a change in the supply of workers across skill groups. The resulting impact on employment and earnings of native workers is estimated using an innovative approach developed by Borjas (2003). The approach takes into account the skill differentials in the labour force and...

Financial sector development may contribute to economic growth by facilitating capital accumulation and by improving productivity. This paper investigates empirically the contribution that financial development may make to these two alternative drivers of economic growth in China. Specifically,...

This study uses two alternative specifications to test the interdependence between the current and capital accounts of the balance of payments. The empirical specifications, derived from the balance of payments constraint and from national income accounting relationships, respectively, yield...

Increasing life expectancy and rapid fertility decline in China since the 1970s have accelerated the rate of population ageing, fuelling the prospects of an ageing workforce and a significant slowdown in the growth of the working age population. The present paper examines the trend of labour...

This study examines the impact of deregulation and technological change on the productivity of Malaysian banks over the period 1989–1998. Malmquist indices constructed with nonparametric DEA techniques are decomposed into their pure efficiency, scale efficiency, and technological change...