This paper examines empirically the tourism impact on the long-run economic growth of Greece by using the causality analysis among real gross domestic product, real effective exchange rate and international tourism earnings. A multivariate autoregressive VAR model is applied for the examined period 1960:Ι – 2000:IV. The results of cointegration analysis suggested that there is one cointegrated ...

After the World War II, the world economy was disrupted and changed due to oil and its prices. The research in this paper presents the basic statistical features and economic characteristics of the Gulf economy. The main features of the Gulf economies and its heavy dependence on oil exports, its dualism between modern and traditional sectors and its rapidly increasing affluences are particularl...

The strong international competition as the factor of rising economic development efficiency should not turn into destructive force for models of social orientation. What result Europe received from the accelerated integration without a long transition period of the accepted countries. Correlative relationship between the research and development expenditure and labor productivity, inflation an...

The Baltic States regained independence and started the pathway from command economy to market economy and entered European Union at the same time. Latter internationally recognized evaluations for the countries are diverse. The present diversity of the Baltic States ’Economic Development is a subject of interest because of the similarities – all three are small, open economies, countries have ...

Accumulated knowledge about nature is an important part of people's capacityto manage and conserve the environment. But this ecological knowledge is now being increasingly lost. There have been few cross-cultural and quantitative studies to describe the phenomenon of its loss. Here we show a strong inverse correlation between ecological knowledge and income levels in and among India, Indonesia,...

In this paper we specialize the Ngai-Pissarides model of growth and structural change [American Economic Review 97 (2007), 429-443] to the case of three sectors, representing the primary (agriculture, mining), secondary (construction, manufacturing) and tertiary (services) sectors. On that basis we explore the dynamic properties of the model along the transition path to the steady-state equilib...