Macroeconomic Determinants of Tariff Policy in Pakistan
|
|
- Asher Taylor
- 5 years ago
- Views:
Transcription
1 Macroeconomic Determinants of Tariff Policy in Pakistan Dr. Mohammed Nishat Professor and Chairman, Department of Finance and Economics Institute of Business Administration-IBA University Road, Karachi Phones: Ext. 222, Fax: and Anjum Aqeel Assistant Professor Applied Economics Research Centre University of Karachi Phones: , Ext: Abstract The purpose of this paper is to determine whether an empirical causal relationship exists between the level of tariffs and the key macroeconomic variables in Pakistan economy. The macroeconomic variables considered are GDP, unemployment, trade balance, wholesale price index, unit value of imports and indicator for import substitution policy. To analyze the relationship between tariffs and Pakistan economy during 1952 to 2003 period seven variable VAR model is used. Later final VAR model employs the Granger causality testing to explore patterns of causality between the variables. The bi-directional Granger causality test results validate the political economy logic thinking that macroeconomic variables influence tariffs in Pakistan. The results also highlight the feedback on various combinations of macroeconomic variables which again supports the political economy feedback from macroeconomic variables to the level of tariffs. This suggests that the tariff is endogenous in the political economic system of Pakistan. Also, the results indicate the same pattern of empirical relationship between tariffs and the other macroeconomic variables when structural reform and institutional development were observed during the study period.
2 Macroeconomic Determinants of Tariff Policy in Pakistan Mohammed Nishat Anjum Aqeel 1. Introduction The tariff remains the Pakistan s main trade policy instrument; its relative importance has increased as a result of the recent elimination of non-tariff barriers on several items. At the same time, it has been a major source of tax revenue. Despite severe economic and political difficulties Pakistan has by and large resisted protectionist pressure and opted for market based reforms including the adoption of a more liberal attitude to trade. As a result during last decades Pakistan s tariff has been considerably reduced. 1 The tariff protection is still relatively higher in Pakistan particularly for a few sensitive items, and it varied widely. Consequently, the tariff remains a potential restraint on domestic competition and thus obstacle to the efficient allocation of resources, with adverse consequences for the economy s productivity and local firms export competitiveness. Many studies have found evidence that the macroeconomic conditions determine the tariffs. 2 The usual argument is that protection is the means to improve the country s terms of trade and also improves the country s trade balance since it results in switch in pattern of demand toward home produced goods (Corden, 1987; and Bhagwati, 1988). However, this depends in part on the exchange rate regime prevailing in the country. 3 The unemployment and poor economic conditions also give rise to pressures for protection. 4 However, much would depend upon the source of the increase in unemployment or decline in economic activity. If unemployment was 1 The maximum tariff has now been reduced to 30% (with few exceptions that relate to automobiles and alcoholic beverages). It has already anticipated and decided to further reduce the maximum tariff to 25% (Trade Policy Reviews, Government of Pakistan). 2 Magee et. al 1989; Bohra and Kaempfer, 1991a,b; Das and Das, 1994; Thornton and Molyneux, 1997; Hall et. al., 1998; Brock and Magee, 1978; Magee, 1987; and Magee and Young, 1987) 3 For example with floating rate regime and no accompanying changes in monetary and fiscal policy the exchange rate is likely to appreciate when protection is increased. The ensuing appreciation would increase imports and reduce exports and the trade balance may not change at all. Moreover, the trade balance could actually worsen if the increase in protection stimulated protected industries more than if discouraged investment in industries adversely affected by appreciation, so that overall private investment rose. 4 In most developing countries we observe excess capacity and underutilization of labor, the protection switches the pattern of demand toward home-produced goods that raise aggregate output, and hence incomes and employment would rise. 1
3 the result of real wages were too high, tariff would increase employment in protected industries but raise costs in industries using protected goods as impetus, and hence increase unemployment there. If there were no initial excess capacity and available labor supply, protection would result in excess demand and inflationary pressures because of the switch in demand toward home produced goods. If domestic prices rose as a result, there would be a real appreciation of the exchange rate that would offset the effects of the protection on trade balance. Theoretically, protection is considered by some as means to improving a country s terms of trade. Restriction of the supply of exports to the world market may raise the prices of these exports and the reduction in demand for imports may reduce their prices. The major objections to protection for this purpose are that large countries engaging in this activity are likely to provoke retaliation, and that small countries can only influence their term of trade in the very short run. Recent explorations, both theoretical and empirical into the political economy of trade policy, have focused on endogeneity of the level and forms of protection (Baldwin, 1985). Tariffs on other forms of protection are the result of interaction in the political arena among various interest groups (Coughlin, 1985; McArther and Marks, 1988; Brock and Magee, 1978; Findlay and Wellisz, 1982; Ray, 1981; Lavergne, 1983; and Conybeare, 1983). Magee and et. al. (1989) suggests a rather intricate model of political pressure that establishes the level of protection. Interest groups for the factors of production and their lobbyists interact with political partied in the tariff formation process in order for all to further their own ends. Magee and Young (1987) test this model by using the rate of unemployment; for instance, will tend to lead affected industries their efforts for protection. The rate of growth of real GNP might also interact with the political pressures of protectionism. The rate of growth of real GNP is also likely to be interrelated to the unemployment rate. Similarly, changes in the trade balance may signal changes in the political effectiveness on the part of protectionist and anti-protectionist pressure groups since fear of retaliation is diminished. Periods in which imports exceed the exports are likely to allow increased political effectiveness on the part of protectionist groups. The trade balance should also interact with inflation with respect to political postures. 5 In literature empirical tests of tariffs that assume a priori causality 5 For instance, if there is trade deficit in inflationary times, this elicits and expansion of protectionist pressure. However, if inflation occurs when the trade balance is in surplus or improving, the argument that inflation causes a flood of import and lead to protection is weakened. Instead, anti-protection forces may arise in such circumstances to pressure for free trade by arguing that a lowering of tariffs will tend to lower inflation. 2
4 between macroeconomic events and the level of protection may be mis-specified. The level of protection may lead to certain economic consequences that have implications for aggregate macro variables. However, if the state of the macro-economy may lead to a realignment of the political forces that causes the endogenous level of protection to be established. Like many developing countries the pressure for trade protection in Pakistan comes from persistent trade deficit, high unemployment, declining or stagnant real incomes and inconsistency in various macroeconomic policies during last many decades. For improving the efficient allocation of resources through tariff policy in Pakistan we need to understand its relationship with other important macroeconomic variable in the economy. There are no previous studies available on this topic in Pakistan. Most studies in Pakistan focused on inter industry effective protection rates (Kemal, 1987; Kemal, Siddiqui and Siddiqui, and Kemal, 2000), as tax instrument (Floystad, 1985) and as issue of gains from trade (Khan and Lin, 1982). This paper attempts to fill the gap by examining the determinants of trade protection over time. More specifically this paper examines the relationship between the tariffs and GDP, trade balance, unemployment, wholesale price index, imports substitution measures, and unit value of imports. We also distinguish between the reform (1989 to 2003) and non-reform period (1952 to 1988) and during the periods of other structural changes regarding exchange rate observed after 1972 and after The rest of the paper is organized that section 2 describes the data and provides the definition of variables. Section 3 discusses the econometric methodology followed by empirical results in section 4. The concluding remarks are provided in section Data and Definition of Variables The annual data from 1952 to 2003 is used to determine the empirical relationship between tariffs and macroeconomics and policy variables (GDP, unemployment, trade balance, wholesale price index, unit value of imports and indicator for import substitution policy). The data is extracted from various issues of Economic Survey of Pakistan and statistical year book published by Federal Bureau of Statistics, Pakistan. The tariff is measured as total custom duties over total value of import. The import substitution measure is derived by the method suggested by Fane (1971) which takes into consideration of long run total import substitution and the same is taken 3
5 as sum of the amounts of import substitution calculated for the sub-periods rather than that calculated for the whole period [see Bacon (1976) for further details]. 3. The Econometric Methodology To analyze the relationship between tariffs and the Pakistan economy, a seven variables VAR model is used. The multivariate time series VAR model approach is employed rather than the single equation or a structural econometric model. The important characteristics of VAR modeling is that it does not require any stringent a priori assumption regarding exogeneity and endogeneity. The VAR form is simply a reduced form representation of some structural econometric model (Zellner and Palm, 1974). The other reason is that the causality tests on these VAR models are more powerful than a single-equation approach (Nelson and Schwert, 1982). The estimation technique used in this paper is suggested by Hsiao (1981) and Caines (1981). While the single equation model is easy and simple to estimate, as the equations are not derived explicitly from a larger model and therefore important feedback mechanism may be omitted. If the right hand side variables in the equations are exogenous, the equation may be part of a system of equations where the variables are interdependent. The extension of single equation approaches to models of interdependent variable, where feed back mechanism exists, went some way with the work of Sims (1972). Researcher in 1970s began developing two variable causality models. As an alternative to traditional econometrics system of equation in which variables are arbitrarily labeled as endogenous or exogenous, VAR models have emerged as powerful multivariate model since the early 1980s (Sims, 1980). In a vector autoregressive model each of a set of variables is regressed on passed values of itself and passed value of every other variable in the system. Cross variable linkages are incorporated because lags of all variables in each equation are included and also because of the existence of correlation among the disturbances of various equations. The present study employs F-test for joint significance of the lag coefficients and multivariate test to determine the direction of causality among the variables. An F-test is constructed under the null hypothesis that the coefficients on the lags of an independent variable in the equation for given dependent variable are jointly equal to zero. The multivariate generalization of Granger causality test has one unrestricted system containing lags of all the variables in the system and a restricted system which exclude lags of the variable(s) of interest. This cross equation restriction is tested by the following likelihood ratio test (See Enderes, 1995). 4
6 ( T k){log log r u } Where T is the number of effective observations and k is the total number of parameters in the unrestricted system. r is the variance-covariance matrix of residuals of the restricted system and u is the variance-covariance matrix of residuals of the unrestricted system. The number of restrictions is equal to number of parameters reduced from the unrestricted system. The test statistics follows a chi-square distribution with degree of freedom equal to the number of restrictions. 4. Discussion of Results Determination of optimal lag length is important for the proper specification of a VAR model. We used the likelihood ratio test AIC and BIC criteria to determine the optimal lag length. To check the lag length we begin with 5 lags as the longest feasible lag length given the degrees of freedom consideration. The first step in estimating VAR model is to transform the data to induced stationarity by taking the variables in growth for as suggested by (Sherman, 2002). As presented in tables 1 and 2 the optimal lag on the basis of AIC and BIC and supplemented by likelihood ratio test is determined as 5. The bivariate F-test is presented in table 3. The causality test results for 12 hypotheses and feedback hypotheses H 1 to H 12 are highlighted in table 3. The H 1 to H 6 test for a causal relation from macroeconomic variables to the level of tariff, whereas H 7 to H 12 test the feedback effects of tariff on macroeconomic variables. The results indicate a bicausality between growth in GDP and tariff rates; unemployment and tariff; whole price and tariff. However, the causal relationship between trade balance and tariff is unidirectional as growth in trade balance does cause growth in tariff but not vice versa. The import substitution policy leads to growth in tariff rates. The unit value index and tariff do not have any causal relationship. Moreover, the wholesale price and tariffs have bidirectional causal relationship during the study period in Pakistan. This indicates higher prices cause lower tariffs, vice versa, higher tariff may curtail the demand for imported goods and hence the prices (The raw material consists of 60% of total imports). 5
7 The F statistics from these regressions suggest changes in all variables except unit value of imports Granger cause changes on tariff rates. 6 The positive sign of GDP indicates the pressure on tariff level. However, the positive association from unemployment, import substitution to tariffs is consistent with variables having triggered protectionist pressures. The negative relationship between trade balance and tariffs in case of Pakistan may be due to foreign tariffs retaliation as indicated by Bohara and Kaempfer (1990). The results presented in table 4 support the causality between tariffs and GDP and unemployment. It is further to note that GDP, unemployment and trade balance, simultaneously influence tariffs in Pakistan. The GDP, unemployment, trade balance and import substitution measures simultaneously cause tariffs. In last, except wholesale price index all variables simultaneously explain the tariffs in Pakistan. The results again support the political economy feedback from macroeconomic variables to the level of tariffs (GDP, unemployment, trade balance, import-substitution measure and unit value of imports). This suggests that the tariff is endogenous in the political economic system of Pakistan. 5. Summary and Concluding Remarks The purpose of this paper is to determine whether an empirical causal relationship exists between the level of tariffs and the key macroeconomic variables in Pakistan economy. The macroeconomic variables considered are GDP, unemployment, trade balance, wholesale price index, unit value of imports and indicator for import substitution policy. To analyse the relationship between tariffs and Pakistan economy during 1952 to 2003 period seven variable VAR model is used. Later final VAR model employs the Granger causality testing to explore patterns of causality between the variables. The bi-directional Granger causality test results validate the political economy logic thinking that macroeconomic variables influence tariffs in Pakistan. The results also highlight the feedback on various combinations of macroeconomic variables which again supports the political economy feedback from macroeconomic variables to the level of tariffs. This suggests that the tariff is endogenous in the political economic system of Pakistan. Also, the results indicate the same pattern of empirical relationship between tariffs and the other macroeconomic variables when structural reform and institutional development were observed during the study period. 6 The signs of the relationships are determined through residual correlation matrix. 6
8 References Baldwin, R. E. (1985), The Political Economy of U. S. Trade Policy, Cambridge, MA: MIT Press. Bacon H. K. (1976), Tariff Protection and Import Substitution in Post- War Greece, World Development, Vol. 4, No. 6, pp Bhagwati, J. (1988), Protectionism. Cambridge, MA; MIT Press. Bohara, A. K. and W. H. Kaempfer (1990), Retaliation in Trade Policy Between Canada and the United States, Working Paper, University of Colorado. Bohara, A. K. and W. H. Kaempfer (1991), A Test of Tariff Endogeneity in the United States, American Economic Review, Vol. 81, pp Brock, W. A. and S. P. Magee (1978), The Economics of Special Interest Politics: The Case of the Tariff, American Economic Review, Papers and Proceedings, 68, pp Caines, R. E., E. Keng and C. S. Sethi (1981), Causality Analysis and Multivariate Autoregressive Modelling with an Application to Supermarket Sales Analysis, Journal of Economic Dynamics and Control, 3, pp Conybeare, J. A. C. (1983), Tariff Protection in Developed and Developing Countries: A Cross- Sectional and Longitudinal Analysis, International Organisation, 37, pp Corden, W. M. (1987), Protection and Liberalisation: A Review of Analytical Issues, International Monetary Fund Occasional Paper 54, Washington D. C. Coughlin, C. C. (1985), Domestic Content Legislation: House Voting and Economic Theory of Regulation, Economic Inquiry, 23, pp Das, S. and S. P. Das (1994), Quantitative Assessment of Tariff Endogeneity: Interwar Vs. Postwar, Economic Letters, 44, pp Enders, W., (1995), Applied Econometric Time Series, John Wiley & Sons, Inc. Fane, G. (1971), Import Substitution and Export Expansion: Their Measurement and An Example of Their Application, Pakistan Development Review. Findlay, Ronald and Wellisz, Stanislaw, Endogenous Tariffs, The Political Economy of Trade Restrictions and Welfare, in J. N. Bhagwati, ed., Import Competition and Response, Chicago: University of Chicago Press, 1982, pp Floystad, G. (1985), On Tariffs and Optimal Policy in Developing Countries, The Pakistan Development Review, Vol. 24, No. 3&4. Hall, H. K., C. Kao and D. Nelson (1998), Woman and Tariffs: Testing the Gender Gap Hypothesis in a Downs-Mayer Political Economy Model, Economic Inquiry, 36, pp
9 Hsiao, Cheng, Autoregressive Modelling and Money Income Causality Detection, Journal of Monetary Economics, January 1981, 7, Kemal, A. R. (1987), Effective Protection Rates A Guide to Tariff Making, The Pakistan Development Review, Vol. XXVI, No. 4. Kemal, A. R. Siddiqui, R. and R. Siddiqui and A. Kemal (2000), General Equilibrium Assessment of Trade Reforms on Poverty in Pakistan, Pakistan Institute of Development Economics, Islamabad. Khan, M. Ali and Po-Sheng (1982), Sub-Optimal Tariff Policy and Gains from Trade for LDCs with Urban Unemployment, The Pakistan Development Review, Vol. 21, No. 2. Lavergne, Real P., (1983), The Political Economy of u.s. Tariffs: An Empirical Analysis,Toronto: Academic Press. Magee, Stephen P., and Young, Leslie (1987), Endogenous Protection in the United States, , in Robert M. Stern, ed., U.S. Trade Policies in a Changing World Economy, Cambridge, MA: MIT Press, pp Magee, Stephen P., Brock, William A. and Young, Leslie (1989), Black Hole Tariffs and Endogenous Policy Theory: Political Economy in General Equilibrium, Cambridge: Cambridge University Press. McArthur, John and Marks, Stephen V. (1988), Constituent Interest vs. Legislator Ideology: The Role of Political Opportunity Cost, Economic Inquiry, 26, Nelson, Charles R. and Schwert, G. William (1982), Tests for Predictive Relationships between Time Series Variables: A Monte Carlo Investigation, Journal of the American Statistical Association, 77, pp Ray, Edward J., The Determinants of Tariff and Non-tariff Restrictions in the United States, Journal of Political Economy, February 1981, 89, Sims, C. A. (1972), Money, Income, and Causality, American Economic Review, Vol. 62, pp Sims, C.A. (1980), Macroeconomics and Reality Econometrica, 48 (10), pp Thornton, John and M. Philip (1995), Macroeconomic Determinants of Tariff Policy in a Developing Economy: Costa Rica , Journal of Post Keynesian Economics, Vol. 17, No. 4. Thornton, J. and P. Molyneux (1997), Tariff Endogeneity: Evidence from 19 th Century Europe, Economic Letters, 56. Zellner, Arnold and Palm, Franz, Time Series Analysis and Simultaneous Equation Econometric Models, Journal of Econometrics, May 1974, 2,
10 Table 1 AIC and SIC for Lag Length Lags AIC SIC Table 2 Results of Likelihood Ratio Test for Lag Length 2 Remarks H : 4 lags against 5 lags rejected H : 3 lags against 4 lags not rejected H : 2 lags against 3 lags not rejected H : one lags against 2 lags not rejected 9
11 Table 3 Pair wise Granger Causality Tests Null Hypothesis F-Statistic Probability GDP does not Granger Cause Tariffs Unemployment does not Granger Cause Tariffs Trade Balance does not Granger Cause Tariffs Unit Value of Imports does not Granger Cause Tariffs Whole Sale Prices does not Granger Cause Tariffs Import Substitution does not Granger Cause Tariffs Tariffs does not Granger Cause Import substitution 2.271*** Tariffs does not Granger Cause GDP Tariffs does not Granger Cause Unemployment Tariffs does not Granger Cause Trade Balance 3.864* Tariffs does not Granger Cause Unit Value of Imports 2.724** Tariffs does not Granger Cause Whole Sale Prices * significant at 0.01 level ** significant at 0.05 level *** significant at 0.10 level 10
12 Table 4 Chi-Square Statistics for Various Hypothesis Test 2 Remarks GDP and unemployment do not cause tariffs * rejected GDP, unemployment and trade balance do not cause tariffs * rejected GDP, unemployment, trade balance and import substitutions do not cause tariffs * rejected GDP, unemployment, trade balance, import substitutions and unit value of imports do not cause tariffs GDP, unemployment, trade balance, import substitutions, unit value of imports and wholesale price index do not cause tariffs * rejected not rejected Tariffs do not cause GDP and unemployment * rejected Tariffs do not cause GDP and unemployment and trade balance ** rejected Tariffs do not cause GDP and unemployment, trade balance and import substitution Tariffs do not cause GDP and unemployment, trade balance, import substitution and unit value of imports Tariffs do not cause GDP and unemployment, trade balance, import substitution, unit value of imports and wholesale price index not rejected not rejected not rejected * significant at 0.01 level ** significant at 0.05 level *** significant at 0.10 level 11
Immigration and Economic Growth: Further. Evidence for Greece
Immigration and Economic Growth: Further Evidence for Greece Nikolaos Dritsakis * Abstract The present paper examines the relationship between immigration and economic growth for Greece. In the empirical
More informationInternational Journal of Economics and Society June 2015, Issue 2
REMITTANCES INFLOWS AND MONETARY POLICY IN NIGERIA Augustine C. Osigwe, Ph.D (Economics), Department of Economics and Development Studies Federal University, Ndufu-Alike, Ikwo, Nigeria Abstract. This study
More informationJournal of Economic Cooperation, 29, 2 (2008), 69-84
Journal of Economic Cooperation, 29, 2 (2008), 69-84 THE LONG-RUN RELATIONSHIP BETWEEN OIL EXPORTS AND AGGREGATE IMPORTS IN THE GCC: COINTEGRATION ANALYSIS Mohammad Rammadhan & Adel Naseeb 1 This paper
More informationInflation and relative price variability in Mexico: the role of remittances
Applied Economics Letters, 2008, 15, 181 185 Inflation and relative price variability in Mexico: the role of remittances J. Ulyses Balderas and Hiranya K. Nath* Department of Economics and International
More informationInvestigating the Relationship between Residential Construction and Economic Growth in a Small Developing Country: The Case of Barbados
Relationship between Residential Construction and Economic Growth 109 INTERNATIONAL REAL ESTATE REVIEW 010 Vol. 13 No. 1: pp. 109 116 Investigating the Relationship between Residential Construction and
More informationA Multivariate Analysis of the Factors that Correlate to the Unemployment Rate. Amit Naik, Tarah Reiter, Amanda Stype
A Multivariate Analysis of the Factors that Correlate to the Unemployment Rate Amit Naik, Tarah Reiter, Amanda Stype 2 Abstract We compiled a literature review to provide background information on our
More informationVolume Title: Trade Policy Issues and Empirical Analysis. Volume URL:
This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: Trade Policy Issues and Empirical Analysis Volume Author/Editor: Robert E. Baldwin, ed. Volume
More informationThe Textile, Apparel, and Footwear Act of 1990: Determinants of Congressional Voting
The Textile, Apparel, and Footwear Act of 1990: Determinants of Congressional Voting By: Stuart D. Allen and Amelia S. Hopkins Allen, S. and Hopkins, A. The Textile Bill of 1990: The Determinants of Congressional
More informationFURTHER EVIDENCE ON DEFENCE SPENDING AND ECONOMIC GROWTH IN NATO COUNTRIES
Associate Professor Alper OZUN E-mail: alper.ozun@hotmail.com Marmara University, Istanbul, Turkey Erman ERBAYKAL, PhD Researcher E-mail: eerbaykal@yahoo.com Istanbul University, Turkey FURTHER EVIDENCE
More informationRural-urban Migration and Urbanization in Gansu Province, China: Evidence from Time-series Analysis
Rural-urban Migration and Urbanization in Gansu Province, China: Evidence from Time-series Analysis Haiying Ma (Corresponding author) Lecturer, School of Economics, Northwest University for Nationalities
More informationThe Political Economy of Trade Policy. Empirical Approaches
The Political Economy of Trade Policy Empirical Approaches Kishore Gawande University of New Mexico Pravin Krishna Brown University Political Economy of Trade Policy ² Trade Policy: Historically Never
More informationThe Relationship between Real Wages and Output: Evidence from Pakistan
The Pakistan Development Review 39 : 4 Part II (Winter 2000) pp. 1111 1126 The Relationship between Real Wages and Output: Evidence from Pakistan AFIA MALIK and ATHER MAQSOOD AHMED INTRODUCTION Information
More informationFDI & Growth: What Causes What?
FDI & Growth: What Causes What? By Abdur Chowdhury* & George Mavrotas** Abstract The paper examines the causal relationship between FDI and economic growth by using an innovative econometric methodology
More informationANALYSIS OF THE EFFECT OF REMITTANCES ON ECONOMIC GROWTH USING PATH ANALYSIS ABSTRACT
ANALYSIS OF THE EFFECT OF REMITTANCES ON ECONOMIC GROWTH USING PATH ANALYSIS Violeta Diaz University of Texas-Pan American 20 W. University Dr. Edinburg, TX 78539, USA. vdiazzz@utpa.edu Tel: +-956-38-3383.
More informationCorruption and business procedures: an empirical investigation
Corruption and business procedures: an empirical investigation S. Roy*, Department of Economics, High Point University, High Point, NC - 27262, USA. Email: sroy@highpoint.edu Abstract We implement OLS,
More informationEconomy ISSN: Vol. 1, No. 2, 37-53, 2014
Economy ISSN: 2313-8181 Vol. 1, No. 2, 37-53, 2014 www.asianonlinejournals.com/index.php/economy The BRICS and Nigeria s Economic Performance: A Trade Intensity Analysis Maxwell Ekor 1 --- Oluwatosin Adeniyi
More informationForeign Remittances have a great role in the development
EPRA International Journal of Economic and Business Review Vol - 3, Issue- 11, November 2015 Inno Space (SJIF) Impact Factor : 4.618(Morocco) ISI Impact Factor : 1.259 (Dubai, UAE) MIGRATION, REMITTANCE
More informationTOURISM AND POVERTY REDUCTION: EVIDENCE FROM
International Journal of Asian Social Science ISSN(e): 2224-4441 ISSN(p): 2226-5139 DOI: 10.18488/journal.1.2018.812.1130.1138 Vol. 8, No. 12, 1130-1138 URL: www.aessweb.com TOURISM AND POVERTY REDUCTION:
More informationAggregate Vote Functions for the US. Presidency, Senate, and House
University of South Carolina Scholar Commons Faculty Publications Economics Department 2-1-1993 Aggregate Vote Functions for the US. Presidency, Senate, and House Henry W. Chappell University of South
More informationIntroduction to Path Analysis: Multivariate Regression
Introduction to Path Analysis: Multivariate Regression EPSY 905: Multivariate Analysis Spring 2016 Lecture #7 March 9, 2016 EPSY 905: Multivariate Regression via Path Analysis Today s Lecture Multivariate
More informationIs Government Size Optimal in the Gulf Countries of the Middle East? An Answer
Is Government Size Optimal in the Gulf Countries of the Middle East? An Answer Hassan Aly, Department of Economics, The Ohio State University, E-mail: aly.1@osu.edu Mark Strazicich, Department of Economics,
More informationEFFECTS OF REMITTANCE AND FDI ON THE ECONOMIC GROWTH OF BANGLADESH
EFFECTS OF REMITTANCE AND FDI ON THE ECONOMIC GROWTH OF BANGLADESH Riduanul Mustafa 1, S.M. Rakibul Anwar 2 1 Lecturer - Economics, Department of Business Administration, Bangladesh Army International
More informationCOMMENTS ON L. ALAN WINTERS, TRADE LIBERALISATION, ECONOMIC GROWTH AND POVERTY
The Governance of Globalisation Pontifical Academy of Social Sciences, Acta 9, Vatican City 2004 www.pass.va/content/dam/scienzesociali/pdf/acta9/acta9-llach2.pdf COMMENTS ON L. ALAN WINTERS, TRADE LIBERALISATION,
More informationModelling the Causal Relationship among Remittances, Exchange Rate, and Monetary Policy in Nigeria
Modelling the Causal Relationship among Remittances, Exchange Rate, and Monetary Policy in Nigeria Kenneth O. Obi, Ph.D Department of Economics, Nnamdi Azikiwe University, Awka, Nigeria, Augustine C. Osigwe,
More informationDynamic Econometric Relationship between Migration and Urbanization in India
International Journal of Statistics and Systems ISSN 0973-2675 Volume 12, Number 1 (2017), pp. 43-55 Research India Publications http://www.ripublication.com Dynamic Econometric Relationship between Migration
More informationThe Role of Technical Infrastructure in the Quality of Relationship Between Tourism and Economic Growth in Iran
World Applied Sciences Journal 10 (Special Issue of Tourism & Hospitality): 146-152, 2010 ISSN 1818-4952 IDOSI Publications, 2010 The Role of Technical Infrastructure in the Quality of Relationship Between
More informationForeign Direct Investment, Economic Growth and Terrorism Events in Pakistan: A Co-Integration Analysis
Foreign Direct Investment, Economic Growth and Terrorism Events in Pakistan: A Co-Integration Analysis Syed Wahid Ali Shah Ph.D. Scholar, School of Economics, Finance and Banking, University Utara Malaysia
More informationImpact of FDI on Economic Growth: Evidence from Pakistan. Hafiz Muhammad Abubakar Siddique Federal Urdu University, Islamabad, Pakistan.
Impact of FDI on Economic Growth: Evidence from Pakistan Hafiz Muhammad Abubakar Siddique Federal Urdu University, Islamabad, Pakistan. Romana Ansar Punjab Group of Colleges, Bhara Kahu Campus, Islamabad,
More informationUNIVERSITY OF COLORADO DEPARTMENT OF ECONOMICS. Course Outline
UNIVERSITY OF COLORADO DEPARTMENT OF ECONOMICS Economics 8413 International Trade James R. Markusen August 2004 Phone: 492-0748 Office: 216 Office hours: Monday, Wednesday, 1:30-3:00 e-mail: james.markusen@colorado.edu
More informationTRADE AND WAGE INEQUALITY: THE HONG KONG CASE
PER_217.fm Page 131 Tuesday, April 13, 2004 5:43 PM Pacific Economic Review, 9: 2 (2004) pp. 131 142 Blackwell Oxford, PER Pacific 1361-374X 2004 June 92Original trade c. s. fan 2004 Blackwell and Economic
More informationA VAR Analysis of FDI and Wages: The Romania s Case
A VAR Analysis of FDI and Wages: The Romania s Case Mihai Mutascu and Anne-Marie Fleischer 1 West University of Timisoara Abstract According to Lall (1997), the FDI are strongly interconnected with a series
More informationForeign Aid, FDI and Economic Growth in East European Countries. Abstract
Foreign Aid, FDI and Economic Growth in East European Countries Rabindra Bhandari University of Western Ontario Gyan Pradhan Westminster College Dharmendra Dhakal Tennessee State University Kamal Upadhyaya
More informationOPENNESS AND GROWTH: A TIME SERIES ANALYSIS FOR ALBANIA
International Journal of Economics, Commerce and Management United Kingdom Vol. IV, Issue 9, September 2016 http://ijecm.co.uk/ ISSN 2348 0386 OPENNESS AND GROWTH: A TIME SERIES ANALYSIS FOR ALBANIA Arjola
More informationConvergence across EU Members and the Consequences for the Czech Republic
Mgr. Patrik Bauer E-mail: Patrik.Bauer@seznam.cz Phone: 00420 602 657235 Private address: Podolská 56, Praha 4 Podolí, 14700, Czech Republic University: IES FSV UK, Opletalova 1606, Praha 1, 11001, Czech
More informationMacroeconomic Transmission Channel of International Remittance Flows Labour Market Adjustments and Dutch Disease Effect
Macroeconomic Transmission Channel of International Remittance Flows Labour Market Adjustments and Dutch Disease Effect Doctoral Student (Economics) Indian Institute of Management Bangalore 17th Jan 2010
More informationCENTRAL BANK COMMUNICATION AND MONETARY POLICY CREDIBILITY PROF. PETER QUARTEY (HEAD, DEPT. OF ECONOMICS, UG)
CENTRAL BANK COMMUNICATION AND MONETARY POLICY CREDIBILITY BY PROF. PETER QUARTEY (HEAD, DEPT. OF ECONOMICS, UG) OUTLINE Introduction Effective communication strategies Central bank communication and monetary
More informationNEW CANDIDATES FOR THE EURO AREA? SIMILARITY OF SUPPLY AND DEMAND SHOCKS IN THE NON-EURO AREA COUNTRIES Stanislav Kappel 1
NEW CANDIDATES FOR THE EURO AREA? SIMILARITY OF SUPPLY AND DEMAND SHOCKS IN THE NON-EURO AREA COUNTRIES Stanislav Kappel 1 1 VSB-Technical Univesity of Ostrava, Faculty of Economics, Sokolská 33, 701 21
More informationTHE USA S INTERNATIONAL TRAVEL DEMAND AND ECONOMIC GROWTH IN TURKEY: A CAUSALITY ANALYSIS: ( )
THE USA S INTERNATIONAL TRAVEL DEMAND AND ECONOMIC GROWTH IN TURKEY: A CAUSALITY ANALYSIS: (1990 2008) Cem IŞIK 1 Atatürk University This paper investigates the relationship between the USA international
More informationVolume 30, Issue 1. Corruption and financial sector performance: A cross-country analysis
Volume 30, Issue 1 Corruption and financial sector performance: A cross-country analysis Naved Ahmad Institute of Business Administration (IBA), Karachi Shahid Ali Institute of Business Administration
More informationTHE CAUSAL RELATIONSHIP BETWEEN REMITTANCES AND POVERTY REDUCTION IN DEVELOPING COUNTRY: USING A NON-STATIONARY DYNAMIC PANEL DATA
THE CAUSAL RELATIONSHIP BETWEEN REMITTANCES AND POVERTY REDUCTION IN DEVELOPING COUNTRY: USING A NON-STATIONARY DYNAMIC PANEL DATA Makram Gaaliche and Montassar Zayati The aim of this article is to investigate
More informationThe macroeconomic determinants of remittances in Bangladesh
MPRA Munich Personal RePEc Archive The macroeconomic determinants of remittances in Bangladesh Mohammad Monirul Hasan Institute of Microfinance (InM), Dhaka, Bangladesh February 2008 Online at http://mpra.ub.uni-muenchen.de/27744/
More informationExports, Education, and Growth in Malaysia
Exports, Education, and Growth in Malaysia Mohammed B. Yusoff International Islamic University Malaysia E-mail: mohammed.yusoff@iiu.edu.my Abstract This paper examines the causal link between exports and
More informationA CAUSALITY BETWEEN CAPITAL FLIGHT AND ECONOMIC GROWTH: A CASE STUDY INDONESIA
A CAUSALITY BETWEEN CAPITAL FLIGHT AND ECONOMIC GROWTH: A CASE STUDY INDONESIA Setyo Tri Wahyudi Department of Economics-Brawijaya University INDONESIA setyo.tw@ub.ac.id; setyo_triwahyudi@yahoo.com Ghozali
More informationInterdependence of SAARC-7 countries: an empirical study of business cycles
MPRA Munich Personal RePEc Archive Interdependence of SAARC-7 countries: an empirical study of business cycles Haritharan Devanthran Universiti Malaysia Sarawak 2009 Online at http://mpra.ub.uni-muenchen.de/32798/
More informationThe Role of Workers Remittances in Development of Jordanian Banking Sector
International Journal of Business and Economics Research 2016; 5(6): 227-234 http://www.sciencepublishinggroup.com/j/ijber doi: 10.11648/j.ijber.20160506.16 ISSN: 2328-7543 (Print); ISSN: 2328-756X (Online)
More informationLONG RUN GROWTH, CONVERGENCE AND FACTOR PRICES
LONG RUN GROWTH, CONVERGENCE AND FACTOR PRICES By Bart Verspagen* Second draft, July 1998 * Eindhoven University of Technology, Faculty of Technology Management, and MERIT, University of Maastricht. Email:
More informationHonors General Exam Part 1: Microeconomics (33 points) Harvard University
Honors General Exam Part 1: Microeconomics (33 points) Harvard University April 9, 2014 QUESTION 1. (6 points) The inverse demand function for apples is defined by the equation p = 214 5q, where q is the
More informationABDELHAMID MAHBOUB * AND DOAA MOHAMED SALMAN ABDOU **
Journal of International Business & Finance Vol. 4, No. 2, (2012): 83-91 J I B F Research Science Press CAN MARKET CONTESTABILITY RELIEVE ECONOMIC STRESS IN ARAB SPRING COUNTRIES ABDELHAMID MAHBOUB * AND
More informationECONOMIC AND POLITICAL LIBERALIZATION IN FORMER SOCIALIST COUNTRIES: IMPLICATIONS FOR CUBA
ECONOMIC AND POLITICAL LIBERALIZATION IN FORMER SOCIALIST COUNTRIES: IMPLICATIONS FOR CUBA Roberto Orro A decade after the beginning of political transformations in the former socialist countries in Eastern
More informationEuropean Journal of Economic Studies, 2014, Vol.(10), 4
Copyright 2014 by Academic Publishing House Researcher Published in the Russian Federation European Journal of Economic Studies Has been issued since 2012. ISSN: 2304-9669 E-ISSN: 2305-6282 Vol. 10, No.
More informationCrime and economic conditions in Malaysia: An ARDL Bounds Testing Approach
MPRA Munich Personal RePEc Archive Crime and economic conditions in Malaysia: An ARDL Bounds Testing Approach M.S. Habibullah and A.H. Baharom Universiti Putra Malaysia 12. October 2008 Online at http://mpra.ub.uni-muenchen.de/11910/
More informationEconomic Freedom and Economic Performance: The Case MENA Countries
The Journal of Middle East and North Africa Sciences 016; () Economic Freedom and Economic Performance: The Case Countries Noha Emara Economics Department, utgers University, United States Noha.emara@rutgers.edu
More informationTHE EVALUATION OF OUTPUT CONVERGENCE IN SEVERAL CENTRAL AND EASTERN EUROPEAN COUNTRIES
ISSN 1392-1258. ekonomika 2015 Vol. 94(1) THE EVALUATION OF OUTPUT CONVERGENCE IN SEVERAL CENTRAL AND EASTERN EUROPEAN COUNTRIES Simionescu M.* Institute for Economic Forecasting of the Romanian Academy
More informationEconometric. Models. Haque 1. Abstract At present, the. appeared to be. remittance 1. Introduction. Forecasting is. not the reality. itself.
Vol. 4, No. 1; March 018 ISSN: 374-5916 E-ISSN: 374-594 Published by Redfame Publishing P URL: http://bms.redfame.com Econometric Models for Forecasting Remittances of Bangladeshh Tamanna Islam 1, Ashfaque
More informationRaising the Issue: Inter-Institutional Agenda Setting on Social. Security
The Report committee for Rebecca Michelle Eissler Certifies that this is the approved version of the following report: Raising the Issue: Inter-Institutional Agenda Setting on Social Security APPROVED
More informationInternational Trade as an Engine of Growth in Developing Countries: A Case Study of Pakistan ( )
International Trade as an Engine of Growth in Developing Countries: A Case Study of Pakistan (1973-2011) Mudasser Ali Khan (Corresponding author) Institute of Business Management, Karachi, Pakistan Email
More informationCore-Periphery in the Europaan Monetary Union: A New Simple Theory-Driven Metrics*
Core-Periphery in the Europaan Monetary Union: A New Simple Theory-Driven Metrics* Nauro Campos Brunel University London, ETH-Zurich and IZA-Bonn nauro.campos@brunel.ac.uk Corrado Macchiarelli Brunel University
More information1. The Relationship Between Party Control, Latino CVAP and the Passage of Bills Benefitting Immigrants
The Ideological and Electoral Determinants of Laws Targeting Undocumented Migrants in the U.S. States Online Appendix In this additional methodological appendix I present some alternative model specifications
More informationApplied Econometrics and International Development Vol- 8-2 (2008)
EXPORTS AND ECONOMIC GROWTH A RE-EXAMINATION OF THE CAUSALITY RELATION IN SIX COUNTRIES, 1981-2005 NUSHIWAT, Munther * Abstract: The paper argues that, in most cases, causality runs from economic growth
More informationIs Corruption Anti Labor?
Is Corruption Anti Labor? Suryadipta Roy Lawrence University Department of Economics PO Box- 599, Appleton, WI- 54911. Abstract This paper investigates the effect of corruption on trade openness in low-income
More informationStudy. Importance of the German Economy for Europe. A vbw study, prepared by Prognos AG Last update: February 2018
Study Importance of the German Economy for Europe A vbw study, prepared by Prognos AG Last update: February 2018 www.vbw-bayern.de vbw Study February 2018 Preface A strong German economy creates added
More informationVolume 31, Issue 4. Can population growth contribute to economic development? New evidence from Singapore
Volume 31, Issue 4 Can population growth contribute to economic development? New evidence from Singapore Fumitaka Furuoka Universiti Malaysia Sabah Qaiser Munir Universiti Malaysia Sabah Abstract This
More informationImpact of Foreign Aid on Economic Development in Pakistan [ ]
MPRA Munich Personal RePEc Archive Impact of Foreign Aid on Economic Development in Pakistan [1960-2002] Ghulam Mohey-ud-din June 2005 Online at http:// mpra.ub.uni-muenchen.de/ 1211/ MPRA Paper No. 1211,
More informationCorruption and quality of public institutions: evidence from Generalized Method of Moment
Document de travail de la série Etudes et Documents E 2008.13 Corruption and quality of public institutions: evidence from Generalized Method of Moment Gbewopo Attila 1 University Clermont I, CERDI-CNRS
More informationExploring the Impact of Democratic Capital on Prosperity
Exploring the Impact of Democratic Capital on Prosperity Lisa L. Verdon * SUMMARY Capital accumulation has long been considered one of the driving forces behind economic growth. The idea that democratic
More informationTHE CAUSAL RELATIONSHIP BETWEEN EXPORT AND ECONOMIC GROWTH OF PAKISTAN
International Journal of Economics, Commerce and Management United Kingdom Vol. V, Issue 2, February 2017 http://ijecm.co.uk/ ISSN 2348 0386 THE CAUSAL RELATIONSHIP BETWEEN EXPORT AND ECONOMIC GROWTH OF
More informationResponse of the Philippines Gross Domestic Product to the Global Financial Crisis
Response of the Philippines Gross Domestic Product to the Global Financial Crisis Cynthia P. Cudia De La Salle University Manila, Philippines cynthia.cudia@dlsu.edu.ph John David C. Castillo De La Salle
More informationAn Analysis of Exploring the Relationship between Foreign Inflows and Sectoral Output of Pakistan
An Analysis of Exploring the Relationship between Foreign Inflows and Sectoral Output of Pakistan Dr. Muhammad Zahir Faridi Associate Professor of Economics, B. Z. University, Multan, Pakistan. Ms. Ismat
More informationThe Impact of Foreign Workers on Labour Productivity in Malaysian Manufacturing Sector
Int. Journal of Economics and Management 5(1): 169 178 (2011) ISSN 1823-836X The Impact of Foreign Workers on Labour Productivity in Malaysian Manufacturing Sector ZALEHA MOHD NOOR *, NORAINI ISA, RUSMAWATI
More informationEmpirical Analysis of Export Performance and its impact on Economy of Pakistan: A Time Series Analysis
Empirical Analysis of Export Performance and its impact on Economy of Pakistan: A Time Series Analysis Author s Details: (1) Dr.Faiz Muhammad Shaikh-Associate Professor-SZABAC-Dokri-Sindh-Pakistan () Dr.Maria
More information1. Introduction. The Stock Adjustment Model of Migration: The Scottish Experience
The Stock Adjustment Model of Migration: The Scottish Experience Baayah Baba, Universiti Teknologi MARA, Malaysia Abstract: In the many studies of migration of labor, migrants are usually considered to
More informationAnd Yet it Moves: The Effect of Election Platforms on Party. Policy Images
And Yet it Moves: The Effect of Election Platforms on Party Policy Images Pablo Fernandez-Vazquez * Supplementary Online Materials [ Forthcoming in Comparative Political Studies ] These supplementary materials
More informationFamily Ties, Labor Mobility and Interregional Wage Differentials*
Family Ties, Labor Mobility and Interregional Wage Differentials* TODD L. CHERRY, Ph.D.** Department of Economics and Finance University of Wyoming Laramie WY 82071-3985 PETE T. TSOURNOS, Ph.D. Pacific
More informationIMPACT OF IMMIGRATION AND OUTSOURCING ON THE LABOUR MARKET A Partial Equilibrium Analysis
IMPACT OF IMMIGRATION AND OUTSOURCING ON THE LABOUR MARKET A Partial Equilibrium Analysis Simontini Das, Ajitava Raychaudhuri, Saikat Sinha Roy Department of Economics Jadavpur University, Kolkata Conference
More informationDeterminants of International Capital Flows: The Case of Malaysia
Determinants of International Capital Flows: The Case of Malaysia Muhammad Asraf Abdullah Shazali Abu Mansor Chin-Hong Puah This paper examines the determinants of international capital inflows into Malaysia
More informationUNIVERSITY OF COLORADO BOULDER, COLORADO. Course Outline and Reading List
UNIVERSITY OF COLORADO BOULDER, COLORADO Economics 6413 International Trade James R. Markusen Phone: 492-0748 Office: 216 Office Hours: Tuesday, Thursday 9:30-11:30 August 28, 2000 Course Outline and Reading
More informationVolume 30, Issue 2. An empirical investigation of purchasing power parity for a transition economy - Cambodia
Volume 30, Issue 2 An empirical investigation of purchasing power parity for a transition economy - Cambodia Venus Khim-Sen Liew Faculty of Economics and Business, Universiti Malaysia Sarawak Tuck Cheong
More informationDiscovering the signs of Dutch disease in Russia Mironov, Petronevich 2013 National Research University Higher School of Economics Institute
Discovering the signs of Dutch disease in Russia Mironov, Petronevich 2013 National Research University Higher School of Economics Institute Development Center Paris School of Economics, Paris 1 Panthéon-Sorbonne
More informationAbdurohman Ali Hussien,,et.al.,Int. J. Eco. Res., 2012, v3i3, 44-51
THE IMPACT OF TRADE LIBERALIZATION ON TRADE SHARE AND PER CAPITA GDP: EVIDENCE FROM SUB SAHARAN AFRICA Abdurohman Ali Hussien, Terrasserne 14, 2-256, Brønshøj 2700; Denmark ; abdurohman.ali.hussien@gmail.com
More informationHandout 1: Empirics of Economic Growth
14.451: Macroeconomic Theory I Suman S. Basu, MIT Handout 1: Empirics of Economic Growth Welcome to 14.451, the introductory course of the macro sequence. The aim of this course is to familiarize you with
More informationAll s Well That Ends Well: A Reply to Oneal, Barbieri & Peters*
2003 Journal of Peace Research, vol. 40, no. 6, 2003, pp. 727 732 Sage Publications (London, Thousand Oaks, CA and New Delhi) www.sagepublications.com [0022-3433(200311)40:6; 727 732; 038292] All s Well
More informationTHE EFFECT OF CONCEALED WEAPONS LAWS: AN EXTREME BOUND ANALYSIS
THE EFFECT OF CONCEALED WEAPONS LAWS: AN EXTREME BOUND ANALYSIS WILLIAM ALAN BARTLEY and MARK A. COHEN+ Lott and Mustard [I9971 provide evidence that enactment of concealed handgun ( right-to-carty ) laws
More informationInternational Journal of Economic Perspectives, 2007, Volume 1, Issue 4,
International Journal of Economic Perspectives,, Volume, Issue, -9. The Effect of World Income on the Economic of African Countries Hakan BERUMENT * Department of Economics, Bilkent University, TURKEY.
More informationThe single European Market, the European Monetary Union and United States and Japanese FDI flows to the EU
The single European Market, the European Monetary Union and United States and Japanese FDI flows to the EU Irini Smaragdi, Constantinos Katrakilidis and Nikos C. Varsakelis 1 * Key words: foreign direct
More informationSchooling and Cohort Size: Evidence from Vietnam, Thailand, Iran and Cambodia. Evangelos M. Falaris University of Delaware. and
Schooling and Cohort Size: Evidence from Vietnam, Thailand, Iran and Cambodia by Evangelos M. Falaris University of Delaware and Thuan Q. Thai Max Planck Institute for Demographic Research March 2012 2
More informationAN EMPIRICAL INVESTIGATION OF SAVING BEHAVIOUR IN PAKISTAN
55 Pakistan Economic and Social Review Volume 54, No. 1 (Summer 2016), pp. 55-72 AN EMPIRICAL INVESTIGATION OF SAVING BEHAVIOUR IN PAKISTAN NABILA ASGHAR AND MUHAMMAD NADEEM* Abstract. The main objective
More informationDo Remittances Transmit the Effect of US Monetary Policy to the Jordanian Economy?
Do Remittances Transmit the Effect of US Monetary Policy to the Jordanian Economy? Hatem Al-Hindawi The Hashemite University, Economics Department Jordan Abstract The purpose of this paper is to examine
More informationDavid Rosenblatt** Macroeconomic Policy, Credibility and Politics is meant to serve
MACROECONOMC POLCY, CREDBLTY, AND POLTCS BY TORSTEN PERSSON AND GUDO TABELLN* David Rosenblatt** Macroeconomic Policy, Credibility and Politics is meant to serve. as a graduate textbook and literature
More informationDebapriya Bhattacharya Executive Director, CPD. Mustafizur Rahman Research Director, CPD. Ananya Raihan Research Fellow, CPD
Preferential Market Access to EU and Japan: Implications for Bangladesh [Methodological Notes presented to the CDG-GDN Research Workshop on Quantifying the Rich Countries Policies on Poor Countries, Washington
More informationImport Competition and Policy Diffusion
Import Competition and Policy Diffusion Santiago López Cariboni Catholic University of Uruguay Xun Cao Penn State University Abstract: The existing literature often assumes that the target of global interstate
More informationGLOBALISATION AND ECONOMIC PERFORMANCE IN DEVELOPING NATIONS: THE NIGERIAN EXPERIENCE
International Journal of Economics, Commerce and Management United Kingdom Vol. II, Issue 10, Oct 2014 http://ijecm.co.uk/ ISSN 2348 0386 GLOBALISATION AND ECONOMIC PERFORMANCE IN DEVELOPING NATIONS: THE
More informationIs the Tourism-Led Growth Hypothesis Valid for the Dominican Republic: Results from the Bounds Test for Cointegration and Granger Causality Tests
Is the Tourism-Led Growth Hypothesis Valid for the Dominican Republic: Results from the Bounds Test for Cointegration and Granger Causality Tests Abstract Santiago Grullón* Senior Director of Research
More informationTHE EFFECTS OF INTEGRATION AND THE GLOBAL ECONOMIC CRISIS ON THE COUNTRIES IN SOUTH- EASTERN EUROPE
Atanas Damyanov Tsenov Academy of Economics- Svishtov, Bulgaria Yordan Neykov Tsenov Academy of Economics- Svishtov, Bulgaria THE EFFECTS OF INTEGRATION AND THE GLOBAL ECONOMIC CRISIS ON THE COUNTRIES
More informationCleavages in Public Preferences about Globalization
3 Cleavages in Public Preferences about Globalization Given the evidence presented in chapter 2 on preferences about globalization policies, an important question to explore is whether any opinion cleavages
More informationCorruption, Political Instability and Firm-Level Export Decisions. Kul Kapri 1 Rowan University. August 2018
Corruption, Political Instability and Firm-Level Export Decisions Kul Kapri 1 Rowan University August 2018 Abstract In this paper I use South Asian firm-level data to examine whether the impact of corruption
More informationRemittances and the Dutch Disease: Evidence from Cointegration and Error-Correction Modeling
St. Cloud State University therepository at St. Cloud State Economics Faculty Working Papers Department of Economics 2013 Remittances and the Dutch Disease: Evidence from Cointegration and Error-Correction
More informationTrade Policy, Inequality and Performance in Indian Manufacturing
Trade and Development Review Vol. 2, Issue 2, 2009, 106-110 http://www.tdrju.net BOOK REVIEW Trade Policy, Inequality and Performance in Indian Manufacturing Kunal Sen, Routledge (2009) pp 170 ISBN 10:0-415-41335-4
More informationDoes Political Business Cycle exist in India? By
Does Political Business Cycle exist in India? By Ashok K Nag* Extended Abstract There exists a vast literature inquiring and modelling the nexus between politics and macroeconomic policy making. Mostly
More informationWage Inequality and Offshoring: Are They Related?
Central Washington University ScholarWorks@CWU All Faculty Scholarship for the College of Business College of Business 2012 Wage Inequality and Offshoring: Are They Related? Koushik Ghosh Central Washington
More informationImmigration and Internal Mobility in Canada Appendices A and B. Appendix A: Two-step Instrumentation strategy: Procedure and detailed results
Immigration and Internal Mobility in Canada Appendices A and B by Michel Beine and Serge Coulombe This version: February 2016 Appendix A: Two-step Instrumentation strategy: Procedure and detailed results
More information