Many studies investigate relationships between economic growth in specific economies and the development of its banking sector or between its growth rate and its rate of inflation. Advancing on earlier work, this article uses panel cointegration and causality tests applied to 34 OECD countries...

This paper examines the structure of long-term employment contracts when labor is mobile and risk averse, employers are unable to monitor workers' outside job offers, workers cannot borrow against future income, and workers' productivity is increasing in the length of service with the long-term...

This paper presents new evidence on the nature of German bilateral foreign aid allocations. In particular, the paper focuses on the question of whether there are population and middle-income biases present in the disbursement of German assistance. Using data on German bilateral aid to 85...

This paper asks what motivates Western donors to provide foreign aid to Nepal. Results reveal existence of both donor interest and recipient need considerations in the disbursement of aid to this country over the period 1981 to 2005. Donors’ desire for promotion of commercial...

Purpose – The purpose of this paper is to examine the nature of causal relations between banking sector maturity, stock market maturity, and four aspects of performance and operation of the economy: economic growth, inflation, openness in trade, and the degree of government involvement in the...