R&D spending in New Zealand is a mixture of private and public investment undertaken to improve productive activity and efficiency. Investment is split fairly equally between private business, government organisations and the universities. It is a long term investment with some uncertainty about...

This paper examines the extent to which consumption in Russian households responds to exogenous income shocks. During the time period studied in this paper (1994 - 1998), Russia experienced two major economic crises. Both featured extreme movements in the real ruble-dollar exchange rate. The...