This paper examines empirically the causal relationship among the degree of openness of the economy, financial development and economic growth by using a multivariate autoregressive VAR model in Greece for the examined period 1960:Ι – 2000:IV. The results of cointegration analysis suggest that there is one cointegrated vector among GDP, financial development and the degree of openness of the ec...

macroeconomic stabilitv is a major prerequisite fo r real economic growth. in th is study in order to allalyse tile empirical relation ship between macroeconomic instability and per capita real growth, a regression model has been specifi ed for tile iranian economy . in this equation , lour variables including hudget deficit as a ratio to gdp. intlation rate , percenltlge change in tile rea! ex...

The purpose of this paper is to suggest that a fundamental shift in Europe, along with the other OECD countries, is taking place. This shift is from the managed economy to the entrepreneurial economy. While politicians and policy makers have made a plea for guidance in the era of entrepreneurship, scholars have been slow to respond. The purpose of this paper is to make a first step identifying ...

The Tenth District economy improved overall during 1993 thanks to a booming construction sector and healthy growth in services. The district’s gain was uneven, however, because other major sectors of the region’s economy remained mixed. The agricultural and mining sectors were flat, while manufacturing continued to struggle. Economic performance diverged considerably across the seven district s...