Military spending is an expenditure by governments that has influence beyond the resources it takes up, especially when it leads to or facilitates conflicts. This chapter provides an overview of the issues involved in analysing the effects of military spending on growth. It considers the...

Our paper analyzed the impact and causal relation of outbound Chinese FDI on growth, employment and export performance of 16 selected US states. The study employed Panel data where contemporaneous panel fixed estimation results shows that the impact of Chinese outbound FDI on employment and...

This paper analyses the dynamics and significance of supply sectors in planning the economic policy, in particular the impact (manufacturing, agriculture and services) on economic growth through 1970 – 2011 and three cohorts. In these sense, it uses the following tools: co-movements and multi...

This paper examined the role of export in the economic growth process in Nigeria. Time series data ranging from 1970 to 2009 was used and the study employs unit root testing, co-integration analysis and VAR Granger Causality/Exogeneity Wald Tests to analyze annual time series data from Nigeria....

In order to test the existence of Thirlwall’s law for Turkey during the period of 1980-2008, bounds test approach to cointegration is applied. The empirical results suggest that Thirlwall’s law holds for Turkey. This study also suggests some policy recommendations to curb the deficits in the...

Every bigger economic crisis, as the current one, leaves behind a huge material damage to the world economy, and to separate national economies as well. However, every such crises reminds national authorities of the mistakes done in the past while creating and running macroeconomic policy and...

Since 1950s, most African nations have gained independence from their colonial powers. Fortunately, independence has brought many changes to these nations and these include multi-party democratic government and western education systems. Unfortunately, the Africa’s economy is the least...

Undervaluation of the currency is generally believed to affect growth through two main transmission channels: the “capital accumulation channel” and the “total factor productivity (TFP) growth channel”. This paper carries out the first empirical investigation on the TFP growth channel....