Testing the reaction of the primary surplus to variations in public debt, relative to GDP respectively, has been frequently resorted to in order to test for sustainability of a given debt policy. In this contribution, we analyze theoretically under which condition a positive reaction of the primary surplus to variations in debt implies a sustainable debt policy. We demonstrate that the evolutio...

Nucleotide sugar transport across Golgi membranes is essential for the luminal biosynthesis of glycan structures. Here we identify GDP-fucose transporter 1 (GFT1), an Arabidopsis nucleotide sugar transporter that translocates GDP-L-fucose into the Golgi lumen. Using proteo-liposome-based transport assays, we show that GFT preferentially transports GDP-L-fucose over other nucleotide sugars in vi...

This paper presents estimates of the effects that terms of trade volatility has on real GDP per capita growth. Based on 5-year non-overlapping panel data comprising 175 countries during 1980-2010, the paper finds that terms of trade volatility has significant adverse effects on economic growth in countries with procyclical government spending; in countries where government spending is countercy...

GDP (Gross domestic product) and per capita GDP data of six GCC (Gulf Cooperation Council) countries were collected and analysed by randomized complete bock design and pair-wise multiple comparison. It is observed that GDP of Saudi Arabia is significantly higher than that of all other GCC countries. The GDP of Bahrain, Qatar, Oman and Kuwait are similar. The GDP of UAE is significantly higher t...

Opportunity inequality and its relationship with economic growth is a concept to which not enough attention has been paid in the previous studies. This study attempts to investigate the effects of opportunity inequality index on economic growth in 15 developing and 15 developed countries over the years 1995-2015. Accordingly, the mean group (MG) estimator within the framework of panel data was ...

The paper studies the interdependence of the amount of international debt securities, amounts outstanding by country (borrowers) and the GDP growth by country. The author have chosen 34 countries, that represent every region included in the BIS classification, that is developed countries, offshore centers, developing Europe, Latin America, Asia and the Pacific and Africa. It was found that the ...

This paper provides a time-series analysis of recent annual estimates of real GDP and industrial output covering 1270 to 1913. We show that growth can be regarded as a segmented trend stationary process. On this basis, we find that trend growth of real GDP per person was zero prior to the 1660s but then experienced two significant accelerations, preand post-industrial revolution. We also find t...

Levine and Zervos (1998) presented cross-country econometric evidence showing that, in a sample of 47 countries, stock market liquidity contributed a significant positive influence on GDP growth between 1976-93. We show that the Levine-Zervos results are not robust to alternative specifications because of the incomplete manner in which they control for outliers in their data. We show that when ...

In evaluating proposals for reforming Social Security that involve stock investments, the Office of the Chief Actuary (OCACT) has generally used a 7.0 percent real return for stocks. The 1994-96 Advisory Council specified that OCACT should use that return in making its 75-year projections of investment-based reform proposals. The assumed ultimate real return on Treasury bonds of 3.0 percent imp...

Purpose – The relationship between energy consumption (EC) and economic growth is a well-known and more studied subject in literature. In this study, Turkey’s EC and gross domestic product (GDP) relation is analyzed. The aim of this study is to find out the relative importance of energy components on GDP for Turkey. Hence, the authors can make some strategic implications up to the importance of...