Utilizing panel data methods and applying Granger causality tests within a framework of a panel cointegration and error correction model, this paper investigates the relationship between financial development and economic growth for 14 Latin American countries from 1978 to 2011. The empirical results show that when banking sector development indicators are used as proxies for financial developm...

This paper investigates the relationship between exports and economic growth in the three of the largest exporting countries in the world, such as European Union, United States of America and Japan. For this purpose we have used Granger causality analysis based on error correction model. The results of this paper suggested that exports have a causal effect on the development process for the cou...

This study looks at the dynamic relationship between the Pakistani equity market and equity markets of Group of Eight countries (G8) which includes Canada, France, Germany, Italy, Japan, Russia, UK and USA by using weekly time series data starting from June 2004 to May 2009. Multivariate Co-integration approach by Johnson and Julius (1990) shows there exists no long-term relationship between th...

Bangladesh, a developing economy, contains trade deficit from her very inception. This paper makes an effort to understand the time series behavior of total export and total import of Bangladesh. Unit root tests recognize the existence of random walk in total export and total import time series. Johansen cointegration test reveals long-run equilibrium relationship between these two variables. G...

Abstract F DI can create employment and reduce poverty, increase the host country’s export capacity causing the developing country to increase its foreign exchange earnings. The aim of this study is to investigate whether FDI affect economic growth in GCC countries over the period 1980-2014 using ARDL approaches. The empirical results show that the FDI is one of the major drivers of e...

Economics was conceived as early as the classical period as a science of causes. The philosopher–economists David Hume and J. S. Mill developed the conceptions of causality that remain implicit in economics today. This article traces the history of causality in economics and econometrics, showing that different approaches can be classified on two dimensions: process versus structural approaches...

We show that comprehenders' expectations about upcoming discourse coherence relations influence the resolution of local structural ambiguity. We employ cases in which two clauses share both a syntactic relationship and a discourse relationship, and hence in which syntactic and discourse processing might be expected to interact. An off-line sentence-completion study and an on-line self-paced rea...

This paper employs the autoregressive distributed lag (ARDL) bounds methodological approach to investigate the relationship between economic growth, combustible renewables and waste consumption, carbon dioxide (CO2) emissions, and international tourism for the case of Tunisia spanning the period 1990-2010. The results from the Fisher statistic of both the Wald test and the Johansen test confirm...

The concept of “fundamental causality” has gained increasing attention as a way of understanding the relationship between socioeconomic status (SES) and health outcomes. Using enthnographic data from a comparative study of two diabetes clinics, the authors further develop the fundamental cause concept in three ways. First, they provide an exposition of the constituent claims implied by an asser...

This paper examines empirically the causal relationship among the degree of openness of the economy, financial development and economic growth by using a multivariate autoregressive VAR model in Greece for the examined period 1960:Ι – 2000:IV. The results of cointegration analysis suggest that there is one cointegrated vector among GDP, financial development and the degree of openness of the ec...