It is argued in this note that state-ownership and state-management of oil on behalf of the Iraqi people is not conducive to democracy and inconsistent with the principles of free market. Thus, we argued that state-ownership of oil (and gas) resources can adversely affect economic development...

Evidence-based policy of global warming is best relying on a relevant sample of data. We choose a sample of annual data from 1959 to-date to provide some statistically robust stylized facts about the relationships between actual CO2 and temperature. Visually, there is a clear upward trend in...

I test the forward rate unbiasedness hypothesis using the Error Correction Model (ECM) of Naka and Whitney (1995). It is shown that the Naka-Whitney treatment of the dynamic is perhaps necessary to ameliorate existing problems associated with testing the hypothesis. However, it is not sufficient...

Since 1998 Hong Kong has experienced over 16 quarters of deflation. Some asset prices such as factory and office space prices started to fall in early 1990s, a long time before the Asian crisis. The number of firms and businesses that have moved out of Hong Kong are not readily available, but it...