This chapter examines the direction of causality between financial development and economic growth in 44 developed and developing countries for the period of 1965-2016. Using bank-based indicators, our empirical results provide the evidence of linear Granger-causality running from economic...

Chapter 1. The Impact of Tourism and Renewable Energy Use over Economic Growth in Top 10 Tourism Destinations -- Chapter 2. The Possible Influence of the Tourism Sector on Climate Change in The US. Chapter 3. Tourism Sector and Environmental Quality: Evidence from Top 20 Tourist Destinations --...

Economic theory suggests that sound and efficient financial systems - banks, equity markets, and bond markets - which channel capital to its most productive uses are beneficial for economic growth. Sound and efficient financial systems are especially important for sustaining growth in developing...