Eight determining variables of FDI inflows are examined by applying extreme bounds analysis to a cross-sectional sample encompassing data on 140 countries. With GDP per capita serving as the free variable, seven variables are tried as the variables of interest in combination with three other...

This paper examines the relationship between the development of the financial system and economic growth using Korea as a case study. In particular, we focus on the relative development of financial intermediaries and capital markets, and their impact on the portfolio behaviour of the household...

A linear model of the demand for oil is derived from a cost minimisation problem in which demand depends on the price of oil, the price of coal and output. The model is estimated and tested against a log-linear model. The empirical results reject the log-linear specification and show that the...

This paper addresses some theoretical and econometric aspects of modelling addictive consumption. We show that the solution to the optimisation problem leads to a specification of the reduced form equation which is different from what is found in the literature. We also demonstrate that it is...

This paper addresses some theoretical and econometric aspects of modelling addictive consumption. We show that the solution to the optimisation problem leads to a specification of the reduced form equation which is different from what is found in the literature. We also demonstrate that it is...

A linear model of the demand for oil is derived from a cost minimisation problem in which demand depends on the price of oil, the price of coal and output. The model is estimated and tested against a log-linear model. The empirical results reject the log-linear specification and show that the...

This paper examines the relationship between the development of the financial system and economic growth using Korea as a case study. In particular, we focus on the relative development of financial intermediaries and capital markets, and their impact on the portfolio behaviour of the household...

We study the portfolio allocation decisions of Australian households using the relatively new Household Income and Labour Dynamics in Australia (HILDA) survey. We focus on household allocations to risky financial assets. Our empirical analysis considers a range of hypothesised determinants of...

Governments confront potentially competing demands for increased provision of community services, prudent budgetary management and no expansion in taxes. In the areas of primary and secondary education, the federal government has attempted to deal with these pressures by using government...

This paper studies the dynamic evolution of an economy in which parents can choose to send their child to a public or private school and vote over taxes used to fund public schools. The objective is to study growth and the evolution of income distribution in a model where alternative education...