World & International Economics



The World Economy in Transition, George Allen and Unwin, London, 1983 (Second edition, 1984). Republished by Routledge, 2011.

With A. Vergottis, Econometric Modelling of World Shipping Markets, Chapman and Hall, 1993.


Peer-Reviewed Papers

  1. "A Quarterly Econometric Model of World Trade and Prices, 1955-1971," with P. Minford in Inflation in Open Economies, M. Parkin and G.Zis (eds.), Manchester University Press, pp. 85-125, 1976.
  2. "Policies towards International Direct Investment: A Neoclassical Reappraisal," The Economic Journal, pp. 533-542, September 1977.
  3. With P. Warburton, "Long Term Trends in Economic Openness in the United Kingdom and the United States," Oxford Economic Papers, pp. 130-135, March 1983.
  4. With G. Dicks, "An Aggregate Dynamic Monetary Model of World Output and Prices," European Economic Review, pp. 261-185, April 1983.
  5. "A Theory of Ship Prices," Maritime Policy and Management, pp. 215-225, 1985.
  6. With S. Khajuria, "The Determination of Marine Insurance Premiums: An International Analysis 1963-1981, Maritime Policy and Management, vol. 13, pp. 45-52, 1986.
  7. With K.F. Chan, "Testing the Arbitrage Pricing Theory in the United Kingdom," Oxford Bulletin of Economics and Statistics, pp. 121-142, May 1986.


      8.  "A Theory of Home Currency Preference," Review of World Economics, pp. 223-232, June 1986.

      9. With G. Dickinson and S. Khajuria, "The Determination of Life Premiums: An International Analysis," Insurance: Mathematics and Economics, pp. 261-               70, 1986.

     10. With G. Dickinson and S. Khajuria, "The Relationship between Property-Liability Insurance Premiums and Income: An International Analysis," Journal of            Risk and Insurance, June, 1988.

      11. "An Econometric Analysis of North-South Interdependence," in D. Currie and D. Vines (eds.), North-South Macroeconomic Interactions, Cambridge                    University Press, 1988.


       12. "An Aggregate Model of Output, Inflation and Interest Rates for Industrialized Countries," Review of World Economics, pp. 403-19, 1988.

       13.  "The Balance of Payments of Oil-Importing Developing Countries: An Aggregate Econometric Analysis," Geoforum, vol. 19, no. 1, pp. 29-43, 1988.

       14.  With A. Vergottis, "An Econometric Model of the World Market for Dry Cargo, Freight and Shipping," Applied Economics, March 1989.

       15.  With A. Vergottis, "An Econometric Model of the World Tanker Market", Journal of Transport Economics and Policy, pp 263-280, September 1989.

        16. "The Reintegration of Eastern Europe into the World Economy", Policy Studies, 44, The                    Leonard Davis Institute, Jerusalem, November                     1991.

         17. "The Determinants of US Assistance to Israel", The Jerusalem Journal of International                     Relations, 14, pp 65-97, 1992.

         18.  "The International Pattern of Military Spending", Economic Development and Cultural Change, 41, pp 633-649, 1993.

         19. With A. Vergottis, "The Interdependence between the Dry Cargo and Tanker Markets", The               Logistics and Transportation Review, 29, pp3-38,               1993.

         20.   "Saving, Investment and Growth in the Industrialized Countries: An Econometric Investigation" in E.S.Phelps (ed), World Saving Prosperity and                           Growth, Macmillan, 1993.

         21.  "An Econometric Model of the Oil Importing Developing Countries",Economic Modelling, 12,              pp 3-14, 1995.

         22.  “The Rise, Fall and Rise again of OPEC”, in M. Oliver and D. Aldcroft (eds) Great Economic Disasters, Elgar, London, 2007.