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This empirical study investigates the dynamic link between patent growth and GDP growth in G7 economies. ARDL model showed that there exist positive relationship in long run between quarterly growth of patents and quarterly GDP growth. The error correction term suggests that 20,6 percent of the adjustment back to long run equilibrium of industrial production in G7 countries is corrected by 20,6% a year, following a shock like the one in 1974 , which in our study is controlled by a dummy variable D74. In the short run however at one or two lags there exist negative relationship between quarterly patents growth and quarterly growth of GDP. Johansen's procedure for cointegration showed that long run multipliers are positive between the patent growth and GDP growth in G7 economies.Granger causality test showed that patent growth Granger cause GDP growth in G7 countries.Unrestricted VAR showed that there exists positive relationship between patent growth and GDP growth at two or three lags.

Rural tourism as part of the overall tourist offer in Macedonia is currently booming. Almost every tourist offer of all the travel agencies contains, among other things, visiting interesting rural tourist areas. This kind of tourism is an important alternative form of tourism that offers a higher level of meeting modern man's needs that urban lifestyle is not able to satisfy. The dynamic and stressful life in urban areas contributes to people seeking peaceful areas that are far from urban centers which, with their natural potentials, offer the modern and somewhat tired man quality contents for relaxing and resting. These are rural areas that are identified with certain geographical regions possessing natural beauty, historic sights and cultural events that are an important factor for the development and promotion of rural tourism. Modern entrepreneurs perceive rural tourism as economic development of rural areas which brings significant revenues for families dealing with this kind of tourism, and also as a significant factor in keeping the population in these rural areas. The paper contains conceptual determination and definition of rural tourism, rural tourism types, and retains the profile of rural tourism visitors. The second part of the paper analyzes the situation with rural tourism in Macedonia, especially the legal framework for the development of rural tourism, institutional framework, human resources, accommodation and catering facilities, funding opportunities, promotional activities, etc.

The aim of this paper is to investigate the size of the government in 12 OECD countries. Data are gathered from Penn Tables. Clustered robust OLS estimation techniques have been used. Also Panel estimation techniques have been applied, FE and RE estimation.The functional form is quadratic is been used, to determine the point where the size of the government is optimal. Government consumption has been used as a proxy variable for government size.

This paper revisits the Institutions and growth models. Econometric techniques have been applied on crosscountry data, just to confirm the apriori knowledge that Institutions effect on growth is positive and highly statistically significant. This evidence was confirmed by all four models. OLS proved as a better technique for our data than 2SLS, this simply because overidentification test showed that instrument cannot be considered exogenous, also Hausman test showed that OLS is better than 2SLS at 1% and 5% levels of significance. G2SLS estimator and Fixed effects panel estimators just confirmed the results from the OLS and 2SLS. As a proxy variable for institutions we used Rule of law variable, also as instruments were used revolutions and Freedom house rating as well as War casualties variables. Also as conclusion here Trade is insignificant in influence to GDP growth compared with quality of institutions.