The existing literature suggests a number of alternative methods to test for the presence of contagion during financial market crises. This paper reviews those methods and shows how they are related in a unified framework. A number of extensions are also suggested that allow for multivariate...

We adopt a new representation of the relationship between emissions and income using long-run growth rates. Our approach allows us to test multiple hypotheses about the drivers of per capita emissions in a single framework and avoid several of the econometric issues that have plagued previous...

This paper investigates the short-run effects of economic growth on carbon dioxide emissions from the combustion of fossil fuels and the manufacture of cement for 189 countries over the period 1961–2010. Contrary to what has previously been reported, we conclude that there is no strong...

The concept underpinning the Environmental Kuznets Curve is that economic growth results in reduced pollution in the long run. In this report, an extension of Andreoni and Levinson’s (2001) theoretical model is presented. It demonstrates that an Environmental Kuznets Curve relationship can...

A new set of estimates of policy induced distortions to relative prices is used to examine how they affect economic growth. We find that on impact there is no significant response of relative agricultural price distortions to changes in real GDP per capita growth of Sub-Saharan African...

Thailand’s impressive long-term rate of economic growth has resulted mainly from accumulation of physical capital. Significant total factor productivity growth can be identified at an aggregate level, explaining as much as one third of the aggregate growth of output. But this TFP growth was...

The Washington Consensus emphasizes the economic costs of real exchange rate distortions. However, a sizable recent empirical literature finds that undervalued real exchange rates help countries to achieve faster economic growth. This paper shows that recent findings are driven by inappropriate...

Economic growth projections are fundamental to long term investment planning by businesses and government. There is an extensive and well developed literature concerned with methodologies for projecting economic growth over short time horizons, but over long horizons, where the goal is to...

The environmental Kuznets curve (EKC) is a hypothesized relationship between various indicators of environmental degradation and income per capita. As economies get richer environmental impacts first rise but eventually fall. In reality, though some types of environmental degradation have been...