Purpose – In this paper the authors address the questions whether global financial crises cause oil shocks worldwide, then whether such shocks affect trade flows of both oil importing and oil exporting countries of East-West Asia. The purpose of this paper is thus to explore such effects by...

Public sector decision-makers are faced with the task of allocating resources among different alternative subject due budgetary constraints. In this paper Official Development Assistance (ODA) data have been considered as foreign aid. ODA is channeled through the public sector of recipient...

Higher education, through increasing the human capital stock of individuals, improves productivity and therefore contributes to economic growth. From economic point of view, this type of expenditure is considered as a long-run investment which increases growth rate and forms a higher capacity of...