The paper examines the causal relationship between stock market development and economic growth in South Africa while controlling for the effect of banking variable. It applies vector error correction model (VECM), generalized impulse response function (GIRF) and variance decomposition (VDC). In...

This study uses quarterly data from 1973 to 2007 to investigate the influence of financial institutions on economic growth in Taiwan. We find that the breakpoint obtained by Gregory and Hansen (1996) appears in the third quarter of 1982, which coincides with the period of financial openness. In...

This paper investigates the impact of migration on Italian outbound tourism trips disaggregated by purpose of visit. A dynamic panel data analysis is carried out on a sample of 65 countries over the period 2005–2011. To disentangle pushing and pulling effects, the migration variables are...