This paper examines the export performance of Spanish tomatoes in the European Union (EU). The origins and destinations of Spanish tomato exports are examined: Almeria is the main exporting province and Germany the biggest client. The performance of Spain’s North African competitors in the...

This paper examines the twin deficits hypothesis in Indonesia, Malaysia, the Philippines and Thailand (ASEAN-4 countries). The major findings of this paper are: (1) Long run relationships are detected between budget and current account deficits. (2) We found that the Keynesian reasoning fits...

Using the framework of a dynamic intertemporal optimization model of an open economy, it is shown that the long-run investment-saving correlation follows directly from the economy's dynamic budget constraint and this does not depend on the degree of international capital mobility. Therefore,...

Published as an article in: Journal of Applied Economics, 2004, vol. VII, pages 47-76.

In this paper we have demonstrated the implications of incorrectly normalising the parameters of a reduced rank regression model to achieve global identification, and presented a method for estimating this model without using the ordering restrictions imposed in previous Bayesian and frequentist...