The range of daily asset prices is often used as a measure of volatility. Using a CARRX (conditional autoregressive range with exogenous variables) model, and the parsimony principle, the paper investigates the factors affecting the volatilities of Asian equity markets. Since the beginning of...

Developing economies often impose restrictions on foreign direct investment (FDI). In recent years many developing economies liberalize external trade as well as FDI inflows. The economists have neglected the importance of government policies on economic performance until recently. This paper...

The authors examine whether economic growth is generated endogenously or exogenously, and estimate the externality effects due to private and public capital respectively. Applying a multivariate stochastic cointegration method to U.S. data, they find that the evidence is unfavorable to the...