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Full-Text Articles in Economics
Toward A Knowledge Economy In Saudi Arabia, Giulio M. Gallarotti, Essam Elfalily, Osama Tayyeb
Toward A Knowledge Economy In Saudi Arabia, Giulio M. Gallarotti, Essam Elfalily, Osama Tayyeb
Giulio M Gallarotti
Nations that have sought to overcome the resource curse and other barriers to economic growth have for some time sought greater development through a number of strategies: from import substitution in the 1950s to current strategies based on microfinance and human-capabilities approaches. Needless to say, the international community is still searching for the elusive Holy Grail of the optimal development strategy. One strategy that is gaining greater attention and adherents is that of promoting a transition to a knowledge economy. This paper is about one such nation: Saudi Arabia. In analyzing the Kingdom’s quest for a knowledge economy, this article …
The Effect Of Treasury Auction Announcements On Interest Rates: 1990-1999, James J. Forest
The Effect Of Treasury Auction Announcements On Interest Rates: 1990-1999, James J. Forest
James J Forest
In this study we examine the secondary-market response of U.S. Treasury interest rates to both the release of pre-auction auction supply announcements and post-auction details from U.S. Treasury auctions during the period of the 1990s. Rate changes are found to differ significantly on auction days. Pre-auction announcements of auction volumes are shown to affect rates significantly, in contrast with the findings of Wachtel and Young (1987) with respect to deficit announcements. We find that surprises in the release of bid-to-cover ratios affect Treasury rates significantly, while the surprises in the volume of noncompetitive bids appears to have little affect on …