Since the early 1970s there has been a worldwide upsurge in the price of energy and in particular of gasoline. Therefore, demand functions for energy and its components like gasoline have received much attention. However, since confidence in the estimated demand functions is important for use in...

Several studies have examined the relationship between environmental degradation and economic growth. However, most of them did not take into account financial developments and institutional quality. Moreover, Stern (2004) noted that there are important econometric weaknesses in the earlier...

This paper examines the growing gap between the theoretical and empirical growth literature and the policy needs of the developing economies. Growth literature has focussed mainly on the long term growth outcomes, but policy makers of the developing economies need rapid improvements in the short...

New panel data estimates for the four East Asian Tigers show that the contribution of total factor productivity (TFP) to growth is much higher than past estimates. An extended production function with learning by doing implies that TFP is about 3.5% and these countries will grow at this rate in...

We use the LSE-Hendry general to specific approach to analyse if US gasoline price adjustments are asymmetric with respect to changes in crude oil prices. Furthermore, we modify some weaknesses in the earlier works by Borenstein et al. (1997) and Bachmeier and Griffin (2003) and shows that if...

In the cross-country and time series studies on the determinants of the growth rate, capital stock is often proxied with the investment ratio due to lack of reliable data. While investment ratio may give good results with OLS, their robustness is doubtful. In addition there are other problems:...

Methodological controversies on the relative merits of estimating time-series models with alternative approaches exist. However, applied researchers may eventually opt for an easy to use and computationally less demanding approach. This article shows that the LSE/Hendry approach, known as GETS,...

Accurate estimates of the price and income elasticities of exports are valuable for growth policies based on trade promotion. However, not sufficient attention seems to have been paid to the specification of the relative price variable in some influential empirical works. This article estimates...

The relationship between globalization and economic growth, especially in the poorer developing countries, is controversial. Previous studies have used single globalization indicators such as the ratio of exports plus imports to GDP. This paper uses a comprehensive measure of a globalization of...

This paper is a survey of some key variables with an international dimension and implications for growth and development policies in selected Pacific island countries. Results from a simple growth accounting exercise show that factor accumulation is the most dominant growth factor and that the...