While the economic theory predicts that developing countries will gain the most from technology spillovers, there have been only a few analyses looking at this question empirically. The present study focuses on a panel of 27 transition and 20 Western European countries between 1990 and 2006 and...

While the economic theory predicts that developing countries will gain the most from technology spillovers, there have been only a few analyses looking at this question empirically. The present study focuses on a panel of 27 transition and 20 Western European countries between 1990 and 2006 and...

Pure time series-based tests fail to find empirical support formonetary exchange rate models. In this paper we apply pooled timeseries estimation on a forward-looking monetary model, resulting inparameter estimates which are in compliance with the underlyingtheory. Based on a panel version of...

Recently, there has been a growing interest in developing econometric tools to conduct counterfactual analysis with aggregate data when a "treated" unit suffers an intervention, such as a policy change, and there is no obvious control group. Usually, the proposed methods are based on the...

Purpose: The purpose of this study is to re-examine the relationship between trade openness and economic growth in the Gulf Cooperation Council countries (GCC), with emphasis on both the role of exports and imports in economic growth in a multivariate framework including gross fixed capital...