This study estimates an Autoregressive Distributed Lag (ARDL) econometric model between 1970 to 2018 test the long-run effect of remittances on financial development in Kenya. It also interacts with monetary policy and human capital their complementarity facilitating development. The finds that hurt contradicting theoretical view. A possible explanation is substitutability hypothesis which stat...

This paper examines the monetary transmission mechanism in the countries of the Central African Economic and Monetary Community (CAEMC). Specifically, we focus on the very first step of this mechanism namely the interest rate pass-through from short-term interest rates towards long-term rates. Using an autoregressive distributed lag (ADRL) model, we show that there is evidence of a very low and...

The purpose of this study is to investigate the causal relationship between the structure and performance in the banking industry of Iran. In doing so, the data and information of public and private banks from 1996 to 2015 is examined using Toda-Yamamoto causality test (TY) and Autoregressive Distributed Lag (ARDL) approach. Herfindahl-Hirschman index (HHI) (the degree of market concentration) ...

This paper proposes a new system-equation test for threshold cointegration based on a threshold vector autoregressive distributed lag (ADL) model. The new test can be applied when the cointegrating vector is unknown and when weak exogeneity fails. The asymptotic null distribution of the new test is derived, critical values are tabulated, and finite-sample properties are examined. In particular,...

Experts believe that by lowering the interest rate on bank accounts, total cost of goods and services decreases, and secondly, investment production increases,  both of which lead to lower inflation and provide stable employment field, on the other hand, are concerned about the negative effects of lowering the interest rate without lowering inflation and know the underlying requirement of nomin...

Time-series cross-section (TSCS) data are prevalent in political science, yet many distinct challenges presented by TSCS remain underaddressed. We focus on how dependence both space and time complicates estimating either spatial or temporal dependence, dynamics, effects. Little is known about modeling one of cross-sectional well while neglecting the other affects results analysis. demonstrate a...