This paper examines the impact of international oil shocks on consumption expenditure in selected ASEAN and East Asia economies. By including oil shocks into a standard macroeconomic model of consumption theory, one sees the response of consumption to the changes in the international oil price....

We attempt to consolidate (at least in part) the vast literature on oil shocks and stock returns by decomposing the influence of oil shocks into two channels of effect: ‘direct’ and ‘indirect’. Using a simple empirical asset pricing model, it is shown that oil shocks can affect stocks...

Based on the parallel growth implications of the four urban growth theories (endogenous growth theory, random growth theory, hybrid growth theory and locational fundamentals theory), this paper uses Chinese city size data from 1984 to 2006 and time-series econometric techniques to test for...

This paper examines the impact of shareholding concentration and the class of shareholders on firm investment. We apply the Euler equation approach to the empirical modeling of investment for a panel dataset of 786 Chinese listed companies during 1998–2004. We find that a significant positive...

Previous research studies have suggested that rising optimism caused by booming stock prices has a significant negative impact on savings decisions. However, identifying this relationship clarifies only one side of the problem. It is also necessary to look at whether savings decisions can affect...