This paper examines weak form efficiency in the stock markets of India, Sri Lanka, Pakistan and Bangladesh; and the linkages between these four markets. The Augmented Dicky Fuller (ADF-1979), the Phillip-Perron (PP-1988), the Dicky-Fuller Generalized Least Square (DF-GLS 1996) and...

Purpose – The purpose of this paper is to examine the causal relationships between stock prices and macroeconomic variables in Sri Lanka, in order to examine the validity of the semi-strong form of the efficient market hypothesis. Design/methodology/approach – The paper adopts unit roots and...

This article examines mean-reversion of real exchange rates of Papua New Guinea (PNG), which is the crucial condition for purchasing power parity (PPP) to hold. Taking a departure from the most previous studies, we used six panel unit root tests to investigate the empirical validity of the PPP...

This study examines the impact of two dimensions of the government, namely, size and quality, on two dimensions of the financial sector, size and efficiency, in a cross section of 71 economies. The study finds that while increased quality of the government as measured by governance and legal...

Abstract We investigate empirically the impact of maternal mortality on the enrolment rate of girls and boys at the primary and secondary levels. We also examine whether the effect of maternal mortality on enrolment is strengthened or weakened by religion. Evidence shows that at both the primary...

Using data covering 1970–2008 for South Asia, this study investigates the influence of human capital disaggregated by gender, on economic growth. We use an extended version of the Solow growth model with per capita gross domestic product (GDP) a function of the key variables, viz. physical...

This study shows that despite a strong empirical association between gender differentials in enrolment ratios and democracy, that democracy alone does not explain gender differentials in education in Africa and Asia. The results indicate that income, employment in agriculture, religious...

The goal of the present paper is to investigate the degree of convergence in tax revenues for a panel of 11 ASEAN, Asia Pacific and Oceania countries spanning the period 1990–2012. We apply the methodology of Phillips and Sul (2007) to various categories of tax revenues to assess the presence...

Adopting a production function based approach, we model the role of health as a regular factor of production on economic growth, and use disaggregate measures of male and female health capital using principal components analysis. Allowing for the dynamics of TFP to be embedded in the production...

This paper examines stock market behaviour in India, Sri Lanka, Pakistan, and Bangladesh employing unit root tests, autocorrelation tests and spectral analysis. Evidence suggests that all markets exhibit a random walk. The multivariate cointegration tests based upon the Johansen Juselius (1988,...