The growth effects of European economic and monetary intergration and the progress of regional convergence across Europe depend on whether economic in Europe is consistent with a neoclassical or an endogenous growth model. Using annual data from the 1950-1992 period for each of 20 European economies...
Is tourism an accelerator of economic growth? Evidence from South Asian region Consistent with the "Tourism Led Growth Hypothesis", the results prove a significant positive and long-run association between tourism and economic growth. ... M Nazir,M Akbar,I Batool,... - 《Acta Oeconomica》 被...
Sudan - The Road Toward Sustainable and Broad-Based Growth LOCAL CURRENCY, MACROECONOMIC VOLATILITY, TOTAL FACTOR PRODUCTIVITY, ECONOMIC CONCENTRATION, GROWTH RATE, BANK CREDIT, REAL EXCHANGE RATE, DOMESTIC CONSUMPTION,Th... W Bank - 《World Bank Other Operational Studies》 被引量: 31发表: 2009年...
from slow growth model driven by traditional technology to high growth model driven by modern technology.By connecting the threshold effect of market scope expansion with non-linear economic growth,this paper discloses a major driving force of the transition from stagnation to modern economic growth....
We present a new multi-sector growth model that features nonhomothetic, constant-elasticity-of-substitution preferences, and accommodates long-run demand and supply drivers of structural change for an arbitrary number of sectors. The model is consistent with the decline in agriculture, the hump-shape...
There is substantial variation in the under performance year-to-year and across industries, with companies that went public in high-volume years fairing the worst. The patterns are consistent with an initial public offering market in which (1) investors are periodically overoptimistic about the ...
Furthermore, our results are also consistent with the hypothesis that the link between trade openness and long-run growth operates mainly through imports. This finding supports some recent developments of Schumpeterian models of growth, and the very specific economic policy recommendations arising thereof...
The paper explores the long-term income elasticity of consumer and mortgage credit growth since World War II. It also examines other economic factors, to determine whether recent credit use is anomalous. Two-stage least squares show consumer credit income elasticity to be slightly below 1.0, taking...
In this paper the long-run growth of the UK economy is analysed over the period 1855–1997, using a Markov-switching cointegration approach. We find that long-run economic growth can be explained by two permanent shocks, namely a technological shock and a labour supply shock. While technologica...
In light of this, we consider the question: what is the nature of the long-run relationships between vegetable oil prices? Long-run co-movements among oil prices are analysed, based on a multivariate cointegration model. The empirical finding is that most co-movements are consistent with the ...