Several studies emphasize the importance of the general environment in recipient countries for effectiveness of development aid. Another more recent strand of the literature considers whether the receipt of aid affects the happiness of developing countries. Since corruption, an indicator of the...

Empirical macroeconomists have investigated the possible link between the development of stock markets, economic growth, and inflation separately. Unlike earlier work, this paper investigates the nature of causal relations between these variables using a panel Granger causality test on a sample...