testing approach to cointegration is employed to test the causal relationship between industrial production, exports and terms … of trade. An augmented form of Granger causality analysis is implemented to identify the direction of relationship among …

cointegration is applied. The empirical results suggest that Thirlwall’s law holds for Turkey. This study also suggests some policy …

both the Engle and Granger (1987) and Johansen (1991, 1995) cointegration reveal a long run relationship between the two …

1970 to 2009 using multivariate cointegration analysis. The empirical result from the investment equation shows that aid …

contribute to development. In the light of financial development between the period of 1980 and 2010, cointegration and Granger …

that the export led growth (ELG) hypothesis is not an appealing phenomenon. Causality proofs on the basis of error …

’s economic growth over the period of 1970 to 2006. The Johansen and Juselius (1990) cointegration test was used to investigate … error-correction model (VECM) and the Granger (1969) causality test were used to examine the short-and long-run causality … Granger causality results strongly supported bilateral causality between economic growth and its determinants. This indicated …

employed cointegration and Granger-causality tests on stochastic systems composed of exports, imports and GDP. In order to have …, export-led-growth hypothesis is verified. Bi-directional causality found for exports and output in the case of Czech Republic …