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International interdependence of national growth rates: a structural trends analysis

Article Abstract:

A model was created to assess the structural trends, such as oil price changes, which influence growth in per capita industrial production in the US, the UK, and Japan. Johansen's multivariate cointegration approach estimates two common trends from the three countries' industrial production levels and the real prices of oil. Results suggest that oil prices are determined by a single stochastic trend over a long period of time. Two permanent trends are derived from the model which include the constant factor of oil prices and productivity.

Author: Daniel, Betty C.
Publisher: Elsevier B.V.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 1997
Prices and rates, Petroleum, Industrial productivity

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Specialization, intermediation and growth

Article Abstract:

The study aimed to investigate the relationship between specialization, financial intermediaries that specialize in monitoring, and economic growth. It concluded that when increased specialization is considered a prerequisite for sustained growth, sustained growth may not occur if financial intermediaries failed to develop due to some reason. Intermediaries may develop endogenously as companies venture to specialization because they serve as a preventive measure in replicating monitoring effort.

Author: Galetovic, Alexander
Publisher: Elsevier B.V.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 1996
Administration of General Economic Programs, Economic Statistics & Research, Other Financial Vehicles, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation, Financial Services NEC, Economic aspects, Financial services, Economic conditions, Banking law, Financial intermediation

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Endogenous growth and stochastic trends

Article Abstract:

A positive correlation is found between output fluctuations and long-term rates of growth, and an endogenous growth model is developed to help explain this aspect of business cycles and growth.

Author: Fatas, Antonio
Publisher: Elsevier B.V.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 2000

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Subjects list: Research, Economics, Business cycles, Economic development
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