This study deals with the issue of independent monetary policy and the stability of the domestic money demand function in the presence of currency substitution and capital mobility in five Asian economies. It is argued that money demand will be less stable and more difficult to control in the...

Using panel data for 57 countries over the period of 1995–2012, this paper investigates the impact of intellectual property rights (IPR) processes on productivity growth. The IPR processes are decomposed into three stages — innovation process, commercialization process, and protection...

This study explores how international trade and investment flows affect each other, using data from OECD and 6 ASEAN countries , and examines whether trade and investment linkages are different between developed and developing economies, or between countries that participate actively in...

The paper aims to enhance the existing literature on the debt-growth nexus by analysing the relationship in two separate country groups using the extreme bounds analysis for sensitivity tests and the mixed, fixed, and random coefficient approach that allows for heterogeneity in the causal...

The purpose of this article is to investigate the causal relationship between economic growth and defense spending in fifty-five developing countries. Granger-causality tests are employed to analyze the presence and direction of causality between these two variables. Moreover, the study focuses...

This paper examines whether terms of trade shocks have an asymmetric effect on private savings in transition economies. A simple three-period framework is developed to show that, in the presence of binding credit constraints in bad states of nature, savings rates can be sensitive to favorable...