The purpose of the paper was to present the decoupling hypothesis which says that the performance of the emerging economies becomes relatively independent from the changes in advanced economies, and to empirically verify this hypothesis. The Christiano-Fitzgerald band-pass filter and spectral...

We modify the Laubach-Williams and Holston-Laubach-Williams models of the natural rate of interest to account for time-varying volatility and a persistent COVID supply shock during the pandemic. Resulting estimates of the natural rate of interest in the United States, Canada, and the Euro Area...

In this study, causal relationship between tourism revenues and economic growth in Turkey There were analyzed using VAR Analysis and Granger Causality Stata. According to the empirical results which are found by using years' data for 2003–2013 periods, there is unidirectional causality running...

This paper empirically explores how fiscal policy - represented by changes in government spending- exerts asymmetric effects on economic growth in the context of a developing country, Egypt in particular. By allowing for the theoretical plausibility of asymmetric effects of fiscal policy on...

We show the impact of COVID-19 pandemic on world's affected countries (Complete or Partial Locked Down countries) mainly transmitted through social and economic factors. In this regard, we assess the effects of covid-19 on Investments, remittances, Trade, Tourism, Oil Prices, Production, Health,...

The literature on aid and growth has not found a convincing instrumental variable to identify the causal effects of aid. In this paper we exploit an instrumental variable based on the fact that since 1987, a major criterion for IDA (International Development Association) eligibility has been...

Theoretical and empirical research has shown that a sound and effective financial system is critical for economic development and growth. The financial system, however, is also subject to boom and bust cycles and fragility, with negative repercussions for the real economy. Further, the political...

The paper investigates the relationship between credit union (CU) financial intermediation and economic growth using seventeen-year data (1995-2011) from 12 CU countries. Using the panel Generalized Method of Moments (GMM) estimation technique, the study finds that there is a statistically...

This study investigates the long-term causal effects of U.S. bombing missions during the Vietnam War on later economic development in Laos. Following an instrumental variables approach, we use the distance between the centroid of village-level administrative boundaries and heavily bombed...

How does high dependence on natural resources affect income inequality? Surprisingly little is known about the impact of high dependence on primary goods on income distribution. Building on insights from the resource curse literature, this paper studies the relationship between income shocks...