The travel and tourism industry has been growing in importance for several developing countries. It has not only generated considerable foreign exchange revenues but has also contributed to the overall output and socio-economic development of these countries. Within the Asia and Pacific region,...

This paper examines the nexus between financial development and energy consumption in South Africa. To determine the long run and short run relationship between financial development and energy consumption in South Africa, the paper uses an Auto Regressive Distributed Lag bounds test (ARDL) and...

This study examines the direction of causality between Gross Domestic Product, foreign aid, foreign direct investment, and gross capital formation in Indonesia from 1970 to 2019, using the augmented Toda-Yamamoto approach with the Granger causality test. Furthermore, this study achieved the unit...

Using the Vector Error Correction Model (VECM) and Toda-Yamamoto Causality approach, this paper investigates the short-run and long-run relationship between export diversification, physical and human capital, imports, and economic growth in the UAE. The study period in consideration is...

The relationship between financial development and economic growth has long been recognized and acknowledged in the literature. However, the dynamics of the relationship is yet to be settled, as illustrated by contradictory theoretical and empirical findings. This paper investigates the...

The present work analyzes the impact of foreign direct investment (FDI) and corruption on the quality of the environment in the MENA region. Indeed, the magnitude of corruption and the quality of institutions are often cited as the main factors affecting the FDI inflow. Here, the Autoregressive...

The relationship between foreign direct investment (FDI) and economic growth in recipient economies remains one of the hottest debates. As confirmed in the literature, many studies support the growth impact of FDI, but some do not. Cambodia, a war-torn economy, also depends on FDI as a driver of...

This study investigates the relationship between financial development and economic growth in the Ivory Coast over the period from 1961 to 2014. The final goal of this research is to develop a procedure to identify the effects of financial reforms for the Ivory Coast economic growth. Therefore,...

This paper examined the direction of causality between financial deepening and economic growth in Nigeria for the period 1970–2013. The study adopted the Toda–Yamamoto augmented Granger causality test and results showed that the growth-financial deepening nexus in Nigeria follows the...

Debate on tourism-led growth and growth-led tourism is still ongoing today, with much research done for developed countries and those which are popular tourist destinations over the world. Surprisingly, the research is scarce for the Central and Eastern European (CEE) and South and Eastern...