The purpose of the paper is to explore the potential for applying fuzzy logic to economic decision-making under Keynesian uncertainty, and in particular to circumstances where variety of opinion is important. Fuzzy logic is shown to apply where expectations may differ because the nature of the...

The export growth-economic growth cointegration structure is investigated for a large sample of low/middle/high income countries, including the newly industrialized ones. Previous Granger causality studies in this area are fundamentally flawed due to the absence of any form of pretesting for...

The foreign exchange market efficiency hypothesis is empirically examined for three major currencies, over the volatile 1980s. The recently available null of cointegration procedure is applied to test for the stationarity of the series under consideration and also for the cointegration status...

The purpose of the paper is to explore the potential for using fuzzy logic to analyse economic decision-making under Keynesian uncertainty, and in particular in circumstances where variety of opinion is important. Fuzzy logic is shown to apply where expectations may differ because the nature of...

The current practice of central banks lending gold to gold producers allows the gold leasing rate to be derived from published data. Gold leasing rates, a potential measure of real world interest rates, are calculated and compared with real interest rates derived from U.K. index-linked gilts....

This paper argues that Arthur Lewis originally presented the problem of economic development in terms of an open system, in the sense that it focused on a number of possible pitfalls and socio-economic constraints in the process of capital accumulation and industrialization in a labour-surplus...