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Foreign Direct Investment and Economic Growth: A Real Relationship or Wishful Thinking?

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S. Iamsiraroj and M.Ulubasoglu, Economic Modelling, December 2015, v. 51, pp. 200-2013. Several theories have been advanced on the beneficial effect of foreign direct investment (FDI) on economic growth. However, mixed empirical findings have resulted in a long-standing debate. This study explores the global FDI–growth relationship through an ‘informed’ econometric analysis predicated on substantial guidance obtained from a detailed investigation of …

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Social Capital and the Extreme Poor in Bangladesh

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 D. Mallick, R. Bakshi and M.Ulubasoglu, Journal of Development Studies, December 2015, v. 51, pp. 1603-1618. We investigate the effect of social capital on hygiene practices pertaining to lives of the extreme poor in rural Bangladesh. Analysing a unique survey dataset for 5,600 extreme poor households, we document a significant positive effect of social capital on sanitary latrine use and wearing …

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The Role of Rice in Poverty Dynamics in Vietnam 2002-2008

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 Hoang, C.S. Pham and M.Ulubasoglu, Journal of the Asia Pacific Economy, January 2016, v. 21, pp. 132-150. Using the Vietnamese Household Living Standards Surveys of 2002, 2004, 2006 and 2008, this paper investigates the role of rice in poverty dynamics in the recent context of Vietnam. We find that sizeable changes in rice prices in the 2000s, which are driven largely …

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The Role of Middle Class in Democratic Diffusion

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with N. Chun, R. Hasan, M.H. Rahman and M.Ulubasoglu, International Review of Economics and Finance, March 2016, v.42, pp. 536-548. The modernization hypothesis and the democratic domino theory have been at the forefront in explaining the democratization around the globe. This paper empirically investigates the ‘middle class-driven modernization’ hypothesis and the ‘middle class-driven democratic domino’ effect in a panel of 145 …

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The Political-Economy of Development in a Globalizing World, An Introduction to Special Issue

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D. Mitra and M.Ulubasoglu, International Review of Economics and Finance, March 2016, v.42, pp. 459-461. The topics in this issue include the political economy of economic reforms, privatization and labor, structural change and growth, democracy and policy volatility, the role of trade intermediaries in the avoidance of export taxes, and the impact of the middle class on democratization and the international propagation …

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Food Demand Elasticities for Australia

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D. Mallick, M. Wadud, P. Hone, H. Haszler and M.Ulubasoglu,  Australian Journal of Agricultural and Resource Economics, April 2016, v. 60, pp. 177-195. There is renewed interest in robust estimates of food demand elasticities at a disaggregated level not only to analyse the impact of changing food preferences on the agricultural sector, but also to establish the likely impact of pricing incentives on …

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Exchange Rate Regimes and Fiscal Discipline: The Role of Trade Openness

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M.T. Chowdhury, P. Bhattacharya, D. Mallick and M.Ulubasoglu, International Review of Economics and Finance, September 2016, v.45, pp. 106-128. This study revisits the relationship between exchange rate regime (ERR) choice and fiscal discipline focusing on the role of trade openness. The conventional theoretical view is that fixed regimes bring about more fiscal discipline, while the recent literature argues that flexible regimes are more …

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The Role of Endowments, Technology and Size in International Trade: New Evidence from Product-Level Data

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C.S. Pham and M. Ulubasoglu, Journal of International Trade and Economic Development, October 2016, v.25, pp. 913-937. Using product-level trade data, we empirically investigate the export patterns of more than 150 countries in their exports to the U.S., Brazil, India, and Japan. We document strong evidence that exporters specialized according to their relative factor endowments, technology, and economic size. More developed, capital abundant …

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The Role of Middle Class in Economic Development: What Do Cross-Country Data Show?

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 N. Chun, R. Hasan,  M.H. Rahman and M. Ulubasoglu, Review of Development Economics, In press. This paper investigates the channels through which the middle-class may matter for consumption growth. Using several different middle-class measures and a panel of 105 developing countries spanning the period 1985-2013, we find that a larger middle-class influences consumption growth primarily through higher levels of human capital accumulation. …