This paper develops a macroeconometric model for the Bangladesh economy using nine key macroeconomic variables employing annual data from 1974 to 2000. The methodology employed in this paper uses unit root and Johansen's cointegration tests followed by vector error correction model and variance...

This paper investigates the determinants of foreign direct investment (FDI) flows in dynamic econometric model on Pakistan economy data set (1970-2007). VAR, VEC, generalized impulse response functions, Granger causality, forecasting, three stage least square econometric techniques are used in...

Information on economic policy uncertainty (EPU) does matter in predicting oil returns especially when accounting for omitted nonlinearities in the relationship between these two variables via a time-varying coefficient approach. In this work, we compare the forecastability of standard, Bayesian...

We build a dynamic stochastic general equilibrium model with five sectors (1 - mining; 2 - manufacturing; 3 - electricity, gas and water; 4 - trade, transport and communication; 5 - other). The model is estimated on 29 time-series of Russia statistical data. We analyse the out-of-sample...

Information on economic policy uncertainty (EPU) does matter in predicting oil returns especially when accounting for omitted nonlinearities in the relationship between these two variables via a time-varying coe¢ cient approach. In this work, we compare the forecastability of standard, Bayesian...

Drawing on new empirical analysis of 30 years of structural reforms across the OECD, this paper sheds light on the impact of reforms over time, identifies the horizon over which their full effects materialise, and investigates whether such effects vary with prevailing economic conditions and...

The article deals with post-crisis development in Russian regions. Dynamics of regional output, investments and employment in 2008—2011 was determined by objective factors (economic specialization, level of development and location) and specific government policy measures. The impact of...

The Russian economy has recovered from the 2008—2009 crisis and is now running close to its potential. While demand pressures risk overheating the economy in the short run, medium-term growth prospects are constrained. To address these challenges Russia should continue to strengthen the...

In this paper, we present evidence that policy volatility exerts a strong and direct negative impact on growth. Using data for 93 countries, we construct measures of policy volatility based on the standard deviation of the residuals from country-specific regressions of government consumption on...

The objective of this paper is to analyze the concept and determinants of "sovereign risk" and the role of the credit risk rating agencies which serve internationally as the main reference instruments employed by economic agents to assess this risk. The paper also tries to identify macroeconomic...