Purpose: Social change and modernization theories postulate that as countries grow they gradually move toward a condition of similarity in various spheres exhibiting similar economic and social traits. The purpose of this paper is to investigate whether a process of convergence in terms of...

Purpose: Portfolio construction and diversification is a prominent challenge for investors. It reflects market agents’ behavior and response to market conditions. This paper aims to investigate the stock-bond nexus in the case of two emerging and two mature markets, India, South Africa, the...

Purpose – The purpose of this paper is to investigate the relationship between growth, investment and military expenditure in the case of the European Union‐15. Design/methodology/approach – The paper uses fixed panel models, random coefficient models and a trivariate VAR model to examine...

Purpose – The purpose of this paper is to investigate the revenue‐expenditure nexus in the case of the 15 members of the European Union. Design/methodology/approach – The paper uses a VECM framework to determine the causal ordering between these two macroeconomic aggregates. Findings –...

Purpose – The purpose of this paper is to examine the impact of unemployment on various types of crime in Greece. Design/methodology/approach – A battery of econometric tests, including Granger causality tests, a variance decomposition analysis, and an impulse response analysis are used to...