Journal of Economic Studies: Volume 29 Issue 1

Exchange rate regimes and economic convergence in the European Union

Tests for long‐run macroeconomic convergence among European Union (EU) countries according to the various exchange rate regimes that have prevailed over the last 40 years…

The welfare effects of inflation and financial innovation in a model of economic growth: An Islamic perspective

Constructs a simple neoclassical growth model in which financial factors play an important role. The model demonstrates that the injunction against fixed interest payments induces…

Term structure of forward exchange premiums: evidence from the 1920s

Following Clarida and Taylor, the term structure of forward exchange premiums can be interpreted as multiple cointegration vectors, if it is assumed that departures from the…

A frontier approach to measuring total factor productivity growth in Singapore’s services sector

Although an East Asian miracle, Singapore has been singled out for experiencing insignificant total factor productivity (TFP) growth, thereby reflecting limited potential for…

Interest rates, savings and income in the Chinese economy

Examines the causal relationship between interest rates, savings and income in the Chinese economy over the period 1952 to 1999, using the cointegration test and Bayesian vector…

Piero Sraffa and the revival of classical political economy

The first part of this article focuses on Roncaglia’s presentation of Piero Sraffa’s work and its significance for economic theory. The second part takes up some issues of…

The WTO as an International Organization