The causality between energy consumption and real income in developed countries has been a very vital research topic in recent years. Raising concerns about climate change and global warming increase the pressure on policy makers to take action against energy depletion. Unfortunately these...

The standard vector error correction (VEC) model assumes the iid normal distribution of disturbance term in the model. This paper extends this assumption to include GARCH process. We call this model as VEC-GARCH model. However as the number of parameters in a VEC-GARCH model is large, the...

High and increasing greenhouse gas (GHG) emissions have remained an urgent priority on the international political agenda since the first Assessment Report of the Intergovernmental Panel on Climate Change (IPCC 1990) and evidence suggests that immediate global action to curb GHG emissions is...

After impressive increase in participation and attainment in the 20th Century, a sense of disillusion has taken root in parts of Europe and N-America as to the effectiveness of formal education for social and economic advancement. For example, Goldin & Kats (2009) note that education attainment...

Renewable energy deployment is growing rapidly on a global scale. China, Germany, Japan and the US are among the countries with highest capacity of renewables installed. In Germany, for example, the large growth in renewable power generation (RPG) capacities in the past has been mainly due to...

Corruption undermines economic development and therefore it is one of the major factors hindering economic growth and political stability, especially in the developing countries. Studies in recent years show that countries with rich natural resources have the potential to shape corruption....