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1.
Dobdinga C. Fonchamnyo 《International Advances in Economic Research》2009,15(3):322-335
For more than two decades, the majority of countries in the African continent have experienced repeated episodes of rising
external debt and debt service, which has led to numerous efforts of external debt relief. This paper provides new evidence
on the effects of the Heavily Indebted Poor Countries (HIPC) Initiative on different economic and social indicators in 60
low income countries (LICs). Results show that LICs that were included in the HIPC Initiative marginally performed better
than non-HIPC countries. There is evidence that countries that have reached the completion point of the HIPC Initiative by
2005 have experienced an average improvement in investment, health care, gross secondary education enrollment, and GDP per
capita growth.
相似文献
Dobdinga C. FonchamnyoEmail: |
2.
Dimitris K. Christopoulos 《Empirical Economics》2006,31(3):601-611
This paper uses non-linear models to investigate non-stationarity of real GDP per capita for seven OECD countries over the period 1900–2000. Unit root tests based on non-linear models are more powerful than traditional ADF statistics in rejecting the null unit root hypothesis. Empirical results show that, contrary to what the linear ADF statistics suggest, stationarity characterizes five out of the seven countries. This finding stands at variance with other recent studies which conclude that movements in real GDP per capita can be characterized as a non-stationary process.
相似文献
Dimitris K. ChristopoulosEmail: |
3.
This study examines the impact of a stamp tax rate increase on market behavior, using data from two stock exchanges in China. We find that when the tax rate increases from 0.3 to 0.5% (which implies that the transaction cost increases by about 1/3) trading volume decreases by 1/3. This implies an elasticity of turnover with respect to a stamp tax of −50% and an elasticity of turnover with respect to transaction cost of −100%. The markets’ volatility significantly increases after the increase in the tax rate. Furthermore, the change in the volatility structure indicates that the markets become less efficient in the sense that shocks are less quickly assimilated in the markets.
相似文献
Badi H. Baltagi (Corresponding author)Email: |
Dong LiEmail: |
Qi LiEmail: |
4.
We present a two-sector endogenous growth model with human and physical capital accumulation to analyze the long-run relationship
between population growth and real per capita income growth. Formal education and investment in physical capital are assumed
to be two separate components of human capital production. Along the balanced growth path equilibrium, population change may
have a positive, negative, or else neutral effect on economic growth depending on whether physical and human capital are complementary/substitutes
for each other in the formation of new human capital and on their degree of complementarity.
相似文献
Davide La TorreEmail: |
5.
Andre Jungmittag 《Empirical Economics》2006,31(2):313-331
This paper investigates whether a convergence or divergence of national innovation capabilities of the 15 EU countries occurs in the course of time. An answer to this question permits immediate conclusions with regard to the success prospects of a convergence of per capita incomes and labor productivities within the EU. For the empirical analysis based on patents granted at the US-Patent and Trademark Office, unit root tests for time series and panel data are used to scrutinize the convergence hypothesis. Taking all results together, evidence points to the fact that an absolute convergence of innovation capabilities is an exception. However, for a number of countries the results suggest either conditional convergence or convergence to their own growth paths.
相似文献
Andre JungmittagEmail: |
6.
Thiess Buettner 《Empirica》2007,34(4):287-297
This paper provides empirical evidence on regional labor market flexibility in Europe and, in particular, in the EU-accession
countries in Central and Eastern Europe. Whereas substantial regional disparities in unemployment are found for pre-accession
EU member countries as well as for accession countries, an empirical analysis taking account of spatial effects shows that
regional wage flexibility is significantly higher for accession countries. Moreover, unemployment disparities are found to
be less persistent in the accession countries.
相似文献
Thiess BuettnerEmail: |
7.
In this article we propose a two step procedure for modeling the propagation of financial shocks. The first step consists
in the estimation, by means of SWARCH models, of the conditional probability of being in a period of high volatility, while
in the second step such indicators are included in a structural simultaneous equations models for interdependences among different
countries. The results show that episodes of financial crisis effectively happened during periods of high volatility and that
such measures of instability are important in explaining the propagation of devaluation expectations between six European
Countries during the ERM period.
相似文献
Marta BevilacquaEmail: |
8.
Stuart J. Wilson 《Empirical Economics》2006,31(1):261-275
The links between economic growth, investment and migration are explored to determine if one of the mobile factors of production,
capital or labor, led the other to accumulate in Canada during several boom episodes over 1870 to 1927. The results of an
econometric analysis, using time series techniques, suggest that rising per capita incomes led to increased domestic investment
and net immigration, and that foreigners joined the investment booms after domestic residents invested in Canadian development
first.
相似文献
Stuart J. WilsonEmail: |
9.
Corrado Andini 《Portuguese Economic Journal》2009,8(1):15-22
In a seminal paper, Levine et al. (J Monet Econ 46:31–77, 2000) provide cross-sectional evidence showing that financial development has positive average impact on long-run growth, using
a sample of 71 countries. We argue that the evidence is sensitive to the presence of outliers.
相似文献
Corrado AndiniEmail: |
10.
Uncertainty avoidance and the rate of business ownership across 21 OECD countries, 1976–2004 总被引:1,自引:0,他引:1
Sander Wennekers Roy Thurik André van Stel Niels Noorderhaven 《Journal of Evolutionary Economics》2007,17(2):133-160
Persistent differences in the level of business ownership across countries have attracted the attention of scientific as well
as political debate. Cultural as well as economic influences are assumed to play a role. This paper deals with the influence
of cultural attitudes towards uncertainty on the rate of business ownership across 21 OECD countries. First, the concepts of uncertainty and risk are elaborated, as well as their relevance for entrepreneurship. An occupational choice
model is introduced to underpin our reasoning at the macro-level. Second, regression analysis using pooled macro data for 1976, 1990 and 2004 and controlling for several economic variables, yields
evidence that uncertainty avoidance is positively correlated with the prevalence of business ownership. According to our model, a restrictive climate of large organizations
in high uncertainty avoidance countries pushes individuals striving for autonomy towards self-employment. Regressions for
these 3 years separately show that in 2004, this positive correlation is no longer found, indicating that a compensating pull
of entrepreneurship in countries with low uncertainty avoidance may have gained momentum in recent years. Third, an interaction term between uncertainty avoidance and GDP per capita in the pooled panel regressions shows that the historical
negative relationship between GDP per capita and the level of business ownership is substantially weaker for countries with
lower uncertainty avoidance. This suggests that rising opportunity costs of self-employment play a less important role in
this cultural environment, or are being compensated by increasing entrepreneurial opportunities.
相似文献
Sander WennekersEmail: |
11.
Naa Anyeley Akofio-Sowah 《International Advances in Economic Research》2009,15(3):296-309
This paper investigates the relationship between the monetary regime: pegged, currency board, dollarization, and the exchange
rate pass-through for a sample consisting of 15 Sub-Saharan Africa countries and 12 Latin American countries. The research
findings about pass-through rates will shed light on the feasibility of a monetary union for Sub-Saharan Africa. The inclusion
of the latter country group was deemed desirable to explore pass-through behavior in several monetary regime options not often
used in Sub-Saharan Africa.
相似文献
Naa Anyeley Akofio-SowahEmail: |
12.
Export variety and the economic performance of countries 总被引:3,自引:0,他引:3
We explore the relationship between export variety and economic development, using data on OECD countries between 1964 and
2003. We show that structural change in the world economy has a particular arrow of time leading to a growing variety of exports.
Distinguishing between related variety (within sectors) and unrelated variety (variety between sectors), we also show that
related variety stimulates growth instantaneously, while unrelated variety only promotes growth with a considerable time lag.
This finding is in line with the evolutionary notions that economic development and international trade patterns are path
dependent.
相似文献
Koen FrenkenEmail: |
13.
Mohammad S. Hasan 《Empirical Economics》2006,31(1):195-206
Using the notion of co-integration theory and a vector error correction modelling approach, this paper examines in retrospect
the long-run relationship between the exchange rate of silver-based currencies and the intrinsic value of silver in India
and Iran in a bivariate model. The results based on unit root and co-integration tests indicate a reliable long-run relationship
between the price of silver and the exchange rate of silver-based currencies. Our findings also suggest a bi-directional relationship
between the price of silver and exchange rate of pound per rupee in the case of India and a feedback relationship between
the intrinsic value of qiran and the exchange rate of pound per qiran in the case of Iran.
相似文献
Mohammad S. HasanEmail: |
14.
This study sheds new light on the mixture of distribution hypothesis by means of a study of the weekly exchange rate volatility of the Norwegian krone. In line with other studies we find that the impact of information arrival on exchange rate volatility is positive and statistically significant, and that the hypothesis that an increase in the number of traders reduces exchange rate volatility is not supported. The novelties of our study consist in documenting that the positive impact of information arrival on volatility is relatively stable across three different exchange rate regimes, and in that the impact is relatively similar for both weekly volatility and weekly realised volatility. It is not given that the former should be the case since exchange rate stabilisation was actively pursued by the central bank in parts of the study period. We also report a case in which undesirable residual properties attained within traditional frameworks are easily removed by applying the log-transformation on volatilities.
相似文献
Genaro Sucarrat (Corresponding author)Email: URL: http://www.core.ucl.ac.be/~sucarrat/index.html |
15.
Using data from the Austrian retail gasoline market we find that a higher station density reduces average prices. Market (i.e. ownership) concentration does not significantly affect average price, however is negatively related to the density of stations. Estimation of the pricing and entry equations as simultaneous equations does not alter our conclusions, and suggests causality running from station density to price. We argue that the spatial dimension of markets allows the identification of market conduct, which is particularly relevant for competition policy.
相似文献
Klaus GuglerEmail: |
16.
We document the patterns of market-wide and firm-specific volatility in the Portuguese stock market over the 1991–2005 period
and test several explanations for the behavior of firm-level idiosyncratic volatility. Unlike previous studies we find no
evidence of a statistically significant rise in firm-specific volatility. On the contrary, the ratio of firm-specific risk
to total risk slightly decreases. We show that this result stems from new listings of large privatized companies that display
lower firm-specific risk. Our findings are consistent with the idea that changes in idiosyncratic volatility are related to
changes in the composition of the market.
相似文献
Ana Paula SerraEmail: |
17.
The paper investigates the factors affecting the equilibrium level of output in a panel of European countries. Output depends
on factor inputs and on the technology and the efficiency with which those factors are used. Efficiency may be driven by international
conditions and institutional changes such as the Single Market Programme in Europe. The technology indicators used in this
study depend upon research and development and also include the level of labour efficiency which is indexed on skills data.
The level of the capital stock depends upon the user cost of capital, which may depend upon risk and hence on the volatility
of the economy. Recent literature suggests that real exchange rate volatility is important in determining investment and therefore
has an impact on equilibrium output. A link of this form is uncovered for the European economies. If policy can reduce these
volatilities then it can also raise equilibrium output.
相似文献
Ray BarrellEmail: |
18.
Pierre-Guillaume Méon 《Constitutional Political Economy》2006,17(3):207-216
This note studies the volatility of the policy chosen by a committee whose members’ preferences are volatile, due to common and individual preferences shocks. It is shown that majority voting mitigates the latter but not the former. The volatility of the policy is smaller the smaller the volatility of members’ preferences, smaller the larger the size of the committee, and smaller than if it was chosen by a single member. The results hold in a context of uncertainty and with multidimensional issues.
相似文献
Pierre-Guillaume MéonEmail: Phone: +32-2-650-66-48 |
19.
Firm survival: methods and evidence 总被引:1,自引:0,他引:1
This paper surveys the Industrial Organization literature on firm survival. We find that, in retrospect, the econometric specifications
used in this area have progressively become more sophisticated, addressing issues such as discrete time, unobserved heterogeneity
and competing risks. We also identify a number of firm- and industry-specific covariates that provide largely consistent results
across samples, countries and periods. On the other hand, the evidence is less clear-cut with regard to ownership and spatial
factors.
相似文献
Josep-Maria Arauzo-CarodEmail: |
20.
Henri Bezuidenhout 《International Advances in Economic Research》2009,15(3):310-321
During the last decade international aid flows diminished while Africa’s relative share of global foreign direct investment
(FDI) declined. This went together with lacklustre growth and low human development levels. In 2005, the G8 countries announced
that they would increase aid to Africa by some $25 billion per annum. The pledge for increasing aid seems to have triggered
an extensive debate about the role of aid and other international capital flows in the development of poorer countries. This
study contributes to this debate. Specifically it addresses the role of foreign direct investment and aid to growth and human
development. Panel estimations are used to determine the relationships between aid, FDI and growth in the Southern Africa
region from 1990 to 2005. Negative relationships are found between FDI and growth while aid and growth turned out to be unrelated.
相似文献
Henri BezuidenhoutEmail: |