A number of papers have documented a significant decline in real GDP volatility in several major OECD economies. Some authors have presented evidence to suggest that this is the outcome of a one-off structural break from a high to low volatility state whilst others have estimated regime...

This paper investigates the determinants of fiscal decentralisation, focusing in particular on the impact of the level of income on the level of fiscal decentralisation. Various measures of fiscal decentralisation, several of them novel in this context, are employed in a cross-country...

This paper analyses the impact of fiscal decentralisation on the Australian economy at both the aggregate and state levels. Attention is given not only to economic growth but also to a number of important macroeconomic variables which may influence growth. The results suggest that there is no...

This paper examines the dynamic effects of taxation and investment on the steady state output level of an economy. A simple neoclassical growth model with different tiers of government is developed. The initial focus is on governments that aim to maximise their citizens' welfare and economic...

The paper evaluates the role played by financial development in oil vis-�-vis non-oil (mining) economies using a panel data set for the period 1984-2003. A novel two-step, variance corrected system Generalized Method of Moments (GMM) estimator proposed by Windmeijer (2005) is applied to a...

This paper examines the dynamic relationship between Australian imports and exports in both the short and long-run using recent cointegration and error-correction techniques. The analysis has direct implications over the specification and estimation of Australian import and export functions and...

This paper investigates empirically whether the natural resource curse exists and if institutions can help alleviate this curse. Both cross-country and dynamic panel regressions confirm the important role of institutional quality (measured by either institutional design or institutional...

Can financial development play a role in abating the natural resource curse? What are the channels via which financial development may negate the potential detrimental effects of natural resources on economic growth? To attempt to answer these questions, the paper employs panel unit root,...

This study examines the impact that technological diffusion and international migrants� remittances have on the economic development of developing countries. The hypothesis that skilled workers, living and working overseas, can effectively channel technological knowledge back to their home...