The objective of this paper is to examine whether financial development leads to economic growth or vice versa in the small open economy of Malaysia. We argue that the results obtained from cross-country studies are not able to address this issue satisfactorily and highlight the importance of country specific studies. Using time series data from 1960 to 2001, we conduct cointegration and variou...

Contrary to common belief, both the Earth’s human population and its economic output have grown faster than exponential for most of the known history. These growth rates are compatible with a spontaneous singularity occuring at the same critical time 2052± 10 signaling an abrupt transition to a new regime. In support, a multivariate analysis coupling population, capital, R&D and technology show...

In this paper we study k-noncrossing RNA structures with arc-length ≥ 3, i.e. RNA molecules in which for any i, the nucleotides labeled i and i + j (j = 1, 2) cannot form a bond and in which there are at most k − 1 mutually crossing arcs. Let S k,3 (n) denote their number. Based on a novel functional equation for the generating function P n≥0 S k,3 (n)z n , we derive for arbitrary k ≥ 3 exponen...

Research Summary: Prior macro-level studies examining the impact of prison population growth on crime rates have produced widely varying results. Studies using national-level time series data find large impacts of prison growth on crime, whereas those using state panel data find more modest ones. Critics of the former studies maintain that the estimates are implausibly large, arguing that the e...

This work examines the presence of unobserved components in the time series of Total Factor Productivity, which is an idea central to modern Macroeconomics. The main approaches in both the study of economic growth and the study of business cycles rely on certain properties of the different components of the time series of Total Factor Productivity. In the study of economic growth, the Neoclassi...