that there is a long-run Granger causality running from key macroeconomic factors to stock prices, but in short-run, only …

run. Based on the results of the panel causality test, though the evidence of short-run causality is very weak, it does … show long-run unidirectional causality running from the overall index of globalization, economic globalization, and social …

correction model, we find that GDP and social security expenditure lack short-run causality, but reveal the existence of long …-run bidirectional causality. This shows that, in the long run, economic growth must be based on a social welfare policy that should be …

This research uses the panel cointegration and panel-based error correction models to investigate the causality among …

testing approach to cointegration and Granger and Toda-Yamamoto causality tests are conducted for quarterly data. The results …