Three panel data estimation methods are used to estimate the cointegrating equations for the demand for money (M1) in 14 developing Asian countries. Tests for the effects of financial reforms are made with estimates for two sub-samples of 1970-1985 and 1986-2005. Our results show that money...

Several studies have examined the relationship between environmental degradation and economic growth. However, most of them did not take into account financial developments and institutional quality. Moreover, Stern (2004) noted that there are important econometric weaknesses in the earlier...

Using Japanese prefecture-level data for the years 1979 and 1996, I explore the extent to which inequality, age heterogeneity, and human capital have an effect upon neighborhood trust, which is ordinarily considered as a kind of particularized trust. The major findings are as follows: (1) Income...

This paper, a revised version of an earlier paper, examines a recent view of Pritchett (2006) that there is a wide gap between the theoretical and empirical growth literature and the policy needs of the developing countries. Growth literature has focussed on the long term growth outcomes but...

Country specific time series models of the determinants of output for the small developing island countries in the Pacific region are relatively few. This paper explores the applicability of the framework underlying Solow (1956) to analyze the determinants output in Kiribati for the period...

In the present paper, the inverted-U shape relationship between growth and inequality found in Chen(2003), is reexamined. We decompose productivity growth into efficiency improvement, capital accumulation and technological progress and then ascertain their determinants by employing a fixed...

This paper fills a gap in the empirical work on the demand for money for Fiji. We allowed for structural breaks in the cointegrating equation, within the Gregory and Hansen framework, and found that there is a cointegrating relationship between real narrow money, real income and the nominal rate...

Hall (1978) has stimulated considerable controversy and empirical work on testing the permanent income hypothesis (PIH). Much of the empirical work is on the developed countries where opportunities for inter-temporal substitution are generally higher than in the developing countries. Therefore,...

This paper examines the cubic form hypothesis and the flying geese pattern hypothesis of income distribution. We use time series data for the Gini coefficients of Korea for 1961-2006 and panel data calculated based on a household income survey for the period 1998-2003. We show; (1) The Korean...

The seminal and controversial work of Burnside and Dollar (2000) has been the basis for many subsequent empirical works on the growth effects of overseas development aid. This paper argues that the specifications used in these works are not consistent with the data and techniques used. We...