This paper provides an empirical analysis of relationship between economic growth and its determinants with special focus on the stock market development in Zimbabwe. Using data for the period from 1991 to 2007 the study employed FMOLS and ARDL bounds-testing for the long run relationship and ECM for the short run dynamics. The findings suggest a positive relationship between efficient stock ma...

This paper examines the relationship between economic growth and tourism development in seven Mediterranean countries. The purpose of this paper is to investigate empirically the long-run relationship between economic growth and tourism development in a multivariate model with tourism real receipts per capita, the number of international tourist arrivals per capita; real effective exchange rate...

In this paper, we estimate a health care demand function for 18 OECD countries for the period 1972-1995. We consider a demand side approach where health expenditure depend on per capita GDP and the relative price of health care. We use panel data unit root and stationarity tests to characterize our data. Then, we test cointegration between our variables with Kao[16] panel data cointegration tes...

In cointegrating regressions, available estimators and test statistics are nuisance parameter dependent. This paper addresses this problem as an identi…cation failure. We focus on set estimation of long-run coe¢ cients (denoted ). We check whether and to what degree popular estimation methods, speci…cally the Maximum Likelihood of Johansen (1995), Fully Modi…ed OLS [Phillips and Hansen (1990); ...

The paper examines the income elasticity of electric power consumption power (YEEPC) in Africa. This study constitutes the first attempt to explore the relationship between electricity consumption per capita and real GDP per capita for 16 African countries in a panel dimension over the period 1971 – 2002. Bi-directional causality exists and all tests support a long run relationship between the ...

This paper applies two alternative methods of estimation, viz., fully modified OLS (FMOLS) and generalized method of moments (GMM), to analyse the determinants of the capital structure of Indian firms using a panel of 1169 non-financial firms listed in either the Bombay Stock Exchange or the National Stock Exchange over the period 1995–2008. The results thus obtained are robust across the estim...

This paper examines some of the major economic and institutional determinants foreign direct investment (FDI) flows to Chile during 2000s. It reports econometric results which suggest that standard variables changes in institutional-legal status capital are, large measure, responsible for rapid increase FDI leading sectors Chilean economy. Cointegration analysis presence structural breaks FMOLS...

To examine the long-term causality between Cardiorespiratory Electromyography Galvanic signals for 17 drivers taken from Stress Recognition in Automobile Drivers database. Methods: Two statistical methods, co-integration to reveal an eventual existence of a long-term relationship between ECG (Electrocardiograph), EMG (electromyography), GSR (galvanic skin resistance), heart rate (HR) and respir...

This study investigates the dynamics of foreign direct investment (FDI) inflows into Central and Eastern European countries (CEECs) using panel data (1994–2020) analysis methods such as fixed effects, fully modified ordinary least squares (FMOLS) random effects. Specifically, examined what factors could account for mixed pattern FDI CEECs. The results from existing empirical literature on inflo...