We use meta-analytic procedures to develop new tests for panel cointegration, combining p-values from time-series cointegration tests on the units of the panel. The tests are robust to heterogeneity and cross-sectional dependence between the panel units. To achieve the latter, we employ a sieve...

The paper uses different measures of financial sector development (FSD) for a dynamic heterogeneous panel of 17 African countries to examine the impact of FSD on private savings. An innovative econometric methodology is also employed related to a series of cointegration tests within a panel....

The objective of this paper is to estimate the demand elasticity for Tunisia exports using recently developed non-stationary panel methodologies. We consider quarterly data of Tunisian exports to the major European trading partners from 1987 to 2004. Our estimation results of the price and...

This paper examines the demand for money using panel data for 48 countries over the 1980-95 time period. In our examination of the conventional money demand function, we begin by empirically exploiting traditional panel methodology and fi nd support for heterogeneity among the countries....