One of the key determinants of China's ability to continue its economic growth into the 21 st century and to distribute the benefits of that growth to a broad spectrum of the population will be the further development of its railroad system. This paper examines the possibilities for improving the performance and increasing the capacity of China's railroad system through the introduction of comp...

We consider whether oil prices can account for business cycle asymmetries. We test for asymmetries based on the Markov switching autoregressive model popularized by Hamilton (1989), using the tests devised by Clements and Krolzig (2000). We select the transformation of the oil price of Lee, Ni and Ratti (1995), based on a linear analysis of the relationship between output growth and the oil pri...

Interest in the possible relationship between economic freedom and economic growth has burgeoned in recent years and most studies have found economic freedom to be conducive to economic growth. Yet, economic freedom is a broad concept that includes very different aspects. The rule of law is a precondition for a high degree of economic freedom. In this paper, it is therefore asked whether it can...

The study examined the relationship between stock market performance and economic growth in Nigeria. It utilized the bounds testing co-integration procedure also known as autoregressive distributed lag estimation procedure. The empirical model combined key stock market indicators and some traditional macroeconomic variables to estimate the hypothesized relationship in the study. It found that i...

Purpose – The purpose of this paper is to examine the discharge volume of domestic solid waste in rural China and to explore the potential impact of various factors that contribute to it. Design/methodology/approach – The data used in this study come from a large-scale field survey conducted in six Chinese provinces. Based on the collected survey data, econometric model on the determinants of d...

This paper examines the impact of fiscal incentives on the level of R&D investment. An econometric model of R&D investment is estimated using a new panel of data on tax changes and R&D spending in nine OECD countries over a 19-year period (1979–1997). We find evidence that tax incentives are effective in increasing R&D intensity. This is true even after allowing for permanent country-specific c...

This paper analyzes empirically the effect of crude oil price change on the economic growth of Indian-Subcontinent (India, Pakistan and Bangladesh). We use a multivariate Vector Autoregressive analysis followed by Wald Granger causality test and Impulse Response Function (IRF). Wald Granger causality test results show that only India’s economic growth is significantly affected when crude oil pr...

Academia and industry agree on the importance of knowledge worker workers in emerging economy or new industrial country for economic growth. Understanding the changing nature of knowledge workers in an industry-level analysis is helpful to formulate industry policy. This study aims to investigate the changing of knowledge workers in Taiwan 20 manufacturing industries during 1988-2005. Empirical...

The paper investigates the effects of imports and foreign capital inflows on economic growth in case of Pakistan over the period of 1990Q1-2008Q4. We have applied ARDL bounds testing approach to examine the long run relationship and investigated the direction of causality by using VECM multivariate framework. Our analysis confirms the long run relationship between imports, foreign capital inflo...

This paper uses cointegration and error-correction models to analyze the causal relationship between export growth and economic growth in eight Asian developing countries using annual data from 1960 to 1997. While conventional wisdom suggests that export growth contribute positively to economic growth, this study also provides strong evidence supporting the export-led growth hypothesis. The emp...