The purpose of this paper is to examine the relationship between carbon dioxide (CO2) emissions from oil and GDP, using panel data from 1971 to 2007 of 98 countries. Previous studies have discussed the environmental Kuznets curve (EKC) hypothesis, but little attention has been paid to the...

The duties of government undeniably transcend the making laws. Government spends to provide social amenities, as well as ensuring growth. But while these expenditures have their own benefits, they equally could have shocking ramifications on the economy. The study set out to investigate the...

This paper proposes a structural approach to growth modeling relying on random return scale. An RBC-like model in which return to scale may be strictly increasing or decreasing depending on shocks is explicitly derived. We show that relevant component of usual macroeconomic models (including...

Evidence from English real wages and real land rents for the period 1500-1800 are used to evaluate the impact of temperature and precipitations on under-developed economies. Estimating key parameters of an AK-growth model, we extract Total Factor Productivity (TFP hereafter) shocks and estimate...

This paper analyzes the productivity of public and private capital formation in a developing economy, Malaysia, using annual data from 1961 to 1995. The analysis is based on neoclassical growth regression, where the transition to the steady-state level of income per capita is modeled using an...

This paper examines the long run impact of trade and financial openness on economic growth in Turkey for the 1992-2006 period by using the Bounds test approach proposed by Pesaran, Shin and Smith (2001) based on Unrestricted Error Correction Model and Toda ve YamamotoÕs (1995) causality test....

This paper investigates the impact of foreign aid and foreign direct investment on the long-run income per capita and short-run income growth of Lao PDR. We formulate a modification of Solow model; then we employ a cointegration technique to carry out the long-run relationship, and employ an...

Purpose – The rapid economic growth of China has attracted the attention of economists, researchers and politicians. China is one of the largest economies in the world, with its gross domestic product (GDP) rising on an average above 9 percent. This economic growth is considered responsible...

This paper uses time-series data from nineteen Latin American countries and the U.S. to test for income convergence using two existing definitions of convergence and a new testable definition of ?-convergence. Only Dominican Republic and Paraguay were found to pair-wise converge according to the...

Education being an important component of human capital has always attracted the interests of economists, researchers and policy makers. Governments across the globe in general and in India in particular are trying to improve the human capital by pumping more investments in education. But the...