After 1870, and long before the rise of the Asian Tigers and the group of emerging economies of Brazil, Russia, India, China, and South Africa, industrial output grew fast enough in the poor periphery to achieve unconditional convergence on the industrial leaders. The Philippines was part of the...

Canada's trade policy at the end of the 19th century is commonly viewed as protectionist and extremely costly. In this paper, we employ the AndersonNeary Trade Restrictiveness Index to reexamine this view. Based on productlevel customs data, we show that Canadian trade policy between 1870 and...

We take up again the famous case of the trade in wheat between the United States and the United Kingdom. This is often used to illustrate the so-called first era of globalization at the end of the nineteenth century. This study, however, finds evidence of transatlantic commodity market...

We argue for a new approach to examining the relationship between tariffs and growth. We demonstrate that more can be learned from time series analyses of the experience of individual countries rather than the usual panel data approach, which imposes a causal relation and presents an average...

Motivated by theoretical arguments (see e.g. Romer (2010) and Mokyr (2008)) that assert a positive impact of institutions on R&D, this paper aims to provide some empirical analysis on the relationship between the two variables. In particular, using a core sample of 98 countries over the period...

The study attempts to identify the dynamic relationship between trade, income growth, energy consumption and CO2 emissions for Pakistan. Johansen's Cointegration procedure has been employed to estimate the coefficients of the Cointegrated Vector Autoregressive model. The results reveal that...

The study attempts to identify the dynamic relationship between trade, income growth, energy consumption and CO2 emissions for Pakistan. Johansen’s Cointegration procedure has been employed to estimate the coefficients of the Cointegrated Vector Autoregressive model. The results reveal that...

In Kuwait, the current method of generating electricity using conventional power plants cannot provide beneficiaries with adequate service unless more plants are constructed. In addition to their high cost, these plants cause environmental damage, creating the need to investigate sources of...

The crucial importance of mountain regions for the cohesion policies is underlined by key Romanian and European Union documents. However, the lack of a unique definition or criteria used to delineate and analyze them constitutes a barrier to the elaboration of development strategies. This study...

This paper researches the portfolio construction between stock price of group of seven (G7) and West Texas Intermediate crude oil from January 2, 1998 to March 1, 2012. We investigate the volatility spillover between stock price and oil price with the dynamic conditional correlation (DCC),...