This study tries to examine the Granger causality between electricity consumption and nominal Gross Domestic Product (GDP) for Pakistan using annual data covering the period 1971–72 to 2007–08. Augmented Dickey-Fuller test reveals that both the series, after logarithmic transformation, are...

This study examines whether stock market illiquidity forecasts real UK GDP growth using data over the period 1989q1-2012q2. Apart from standard linear model specifications, we also utilize non-linear models, which allow for regime switching behavior in terms of a liquid versus an illiquid market...

This paper presents a modified two-gap model and analyses the impact of international trade and domestic savings on the economic growth in the transition countries. The model indicates that economic growth is constrained by domestic savings when the domestic savings are relatively scarce,...

Sovereign nations grow faster than non-sovereign ones. When Pakistan ceded economic management to the IMF in the late 1980s, the turn to neo-liberalism led to 14 years of decline in long-run rate of investment and growth from which it hasn't recovered. This cost the economy an estimated $75.6...

This study examines the Granger causality between electricity consumption and Gross Domestic Product (GDP) for Pakistan using annual data covering the period 1971 to 2007. Augmented Dickey-Fuller test and Phillips-Perron test reveal that both the series, after logarithmic transformation, are...

This paper introduces a new measure of dependence or jointness among explanatory variables. Jointness is based on the joint posterior distribution of variables over the model space, thereby taking model uncertainty into account. By looking beyond marginal measures of variable importance,...

We incorporate gender bias against girls in the family, the school and the labor market in amodel of intergenerational persistence in schooling where parents self-finance children's educationbecause of credit market imperfections. Parents may underestimate a girl's ability, expect lowerreturns,...

The past decades witnessed big changes in international trade with the rise of global value chains. Some countries, such as China, Poland, and Vietnam rode the tide, while other countries, many in the Africa region, faltered. This paper studies the determinants of participation in global value...

NGOs play an important role in international development cooperation, but the allocation of NGO aid has rarely been mapped, let alone explained. Based on a representative dataset for 61 important NGOs from various OECD countries, we analyze the targeting of NGO aid across a large number of...

Estimates of the number of people living in extreme poverty, as reported by the World Bank, figure prominently in international development dialogue and policy. An assumption underpinning these poverty counts is that there are no economies of scale in household size a family of six needs three...