Over the past decades, leaders and citizens in many countries have lamented the lack of transparency in government and declining citizens’trust in government. South Korea is not an exception. In order to restore trust in government, the Korean government has made considerable efforts to adopt...

In this paper we examine temporal properties of eleven natural resource real price series from 1870-1990 by employing a Lagrangian Multiplier unit root test that allows for two endogenously determined structural breaks with and without a quadratic trend. Contrary to previous research, we find...

This paper proposes a new panel unit-root test based on the Lagrangian multiplier (LM) principle. We show that the asymptotic distribution of the new panel LM test is not affected by the presence of structural shifts. This result holds under a mild condition that N/T-k, where k is any finite...

English Abstract: This paper provides evidence of significant international co-movements of public debt in the form of the common global and regional factors. International events such as the global financial crisis and regional sovereign debt crises suggest the existence of global and regional...

Failures of nonprofit organizations can be used either retrospectively or prospectively. The retrospective approach to failure focuses on how to find and correct the causes of failure. On the other hand, the prospective approach emphasizes more forward-looking ways to benefit from failure and...