This paper attempts to examine the long run as well as short run relationship between Pakistan’s real GDP and energy consumption at sectoral level. The analysis is based on the time series data from 1977 to 2010. We estimate the DOLS cointegration to check the long run relationship. The...

This paper examines the mechanisms through which human capital influences economic growth in the CEMAC region. The effect of human capital on economic growth was estimated using Two Stage Least Square (2SLS) multiple regression model for the individual countries and the method of Generalized...

This paper examines the empirical relationship between economic growth and income inequality for 3 countries of North Africa (Tunisia, Morocco and Egypt) over the period 1970-2004. The results of this paper indicate that the long-run growth elasticity of income inequality is negative and...

The generous theoretical and empirical debates are available on institutional freedom and economic growth, but unsuccessful to facilitate stationary conclusion regarding the nature of connection. It is still confusing that either economic freedom cause economic growth or economic growth widens...

The study considers the exports-led growth hypothesis using quarterly data over the period 1990-2008 in case of Pakistan. For this purpose, Ng-Perron unit root test, ARDL bounds testing approach to cointegration and error correction method (ECM) for short run dynamics have been applied. Our...

Oil is also very important for the Iran’s economic growth. This paper studies the causal relationships between oil consumption and economic growth for Iran using cointegration and error correction model from annual data covering the period of 1980-2010. As economic growth and oil consumption...

This paper explores the causality problem between income inequality and economic growth for 9 countries of Middle East and North Africa (MENA) region for the period ranging from 1960 to 2011. In this study, we applied the cointegration techniques, that means the Granger causality tests (in the...

Inflation is one of the most challenging macroeconomic objectives capable of frustrating every pragmatic effort at achieving other macroeconomics goals if not curtailed. To this end, the paper empirically examines the threshold inflation rate that is considered optimally reasonable for...

Most studies of the relationship between economic freedom and growth of GDP have found a positive correlation. One problem in this area is the choice of measure of economic freedom. A single measurement does not reflect the complex economic environment and a highly aggregated index makes it...

Our goal in this paper is to explorethe validity of Wagner’s Law in Saudi Arabia during the period (1970-2012) for real oil GDP and Non-oil GDP.Wagner’s Law investigated that fundamental economic growth is validity to the public sector growth. In the previousstudies have been tested the six...