We examine state income and government spending data to investigate the role of political parties and elections in state business cycles of the United States, and find strong support for the partisan political business cycles, both traditional and rational versions. The growth rate of per capita...

This paper explores different possible factors that have impacted business cycle synchronization across industrialized countries in the past quarter century. We employ a comprehensive model that includes as the main determinants of output co-movements not only trade and financial integration,...

The Chinese government has established policies to promote its industrial sectors and to develop coastal provinces since the late 1978. To investigate the extent and reason the output growth in China has been influenced by these policies, an error-component model is employed to decompose the...

This paper discusses causes of capital flows in Korea and Mexico. Both countries received substantial amounts of foreign capital in the late 1980s and early 1990s. International capital helped these countries achieve a higher standard of living and faster economic growth. However, undesirable...

Foreign trade matters considerably more than ever in today's integrated economies, and the wealth of benefits afforded by air transport is one of the cornerstones of international trade. Therefore, to shed light on the precise role of air cargo, seen as an important motor of growth, this paper...

A main focus of this paper is our analysis of the vote function using the vote share of government parties as the proxy variable for government popularity. Utilising <link rid="b41">Pedroni's (1999</link>) panel cointegrated test and the fully modified OLS (FMOLS) technique, we empirically examine the long-run...

We examine the effect of remittances on corruption using panel data for 111 countries over the period of 1986–2010. We find that remittances increase corruption, especially in non-OECD countries.