Using cointegration and error-correction, this paper develops and tests a money demand model for the small open economy of the United Arab Emirates. The paper takes into account the possible role of the international opportunity costs (as proxied by foreign interest rates and exchange rates) in...

L’articolo analizza le determinanti della spesa dei consumatori in Marocco. I risultati empirici registrati durante il periodo 1957-1982 indicano che il reddito reale permanente esercita una influenza decisiva sulla spesa per il consumo in Marocco. I risultati dimostrano inoltre che, mentre...

Purpose – The purpose of this paper is to examine the extent to which information technology (IT) and human capital accumulation have contributed to the recent rapid economic growth of the United Arab Emirates (UAE). Design/methodology/approach – Well-established prior theories suggest that...

This study examines whether tightening and easing actions of the Federal Reserve symmetrically influence currency markets. Using daily data on four exchange rates from 1989 to 2001, we find that changes in the Fed's interest rate target are positively related to changes in the value of the...

This paper empirically explores various efficiency aspects of Real Estate Investment Trusts (REITs) in light of their remarkable growth in the 1990s. We find clear evidence of considerable technical inefficiency in REITs, though not much indication for allocative or scale inefficiency. The...

This article explores the causal (lead/lag) relation between government spending and taxation in two developing countries (Lebanon and Tunisia). Both countries have suffered from large budget deficit and/or national debt problems, particularly since the early 1990s. Empirical results deduced...