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and economic growth. We make use of a Johansen-based panel cointegration methodology allowing for cross-country dependence … a single cointegrating vector between financial development and growth and of causality going from financial development … to economic growth. We find little evidence of reverse causation as well as bi-directional causality. We interpret this …
Persistent link: https://www.econbiz.de/10010223077
consumption and by exploring the direction of Granger causality between the two series. We also give evidence that house price …
Persistent link: https://www.econbiz.de/10010518800
models in economics as conditions for balanced growth, arbitrage or solvency, the empirical literature has tended to find … little evidence for them. We argue that this outcome could be due to episodic failure of cointegration, possible two …-way causality between the variables in the ratios, and cross-country error dependence due to latent factors. We propose a new system …
Persistent link: https://www.econbiz.de/10013041372
This paper analyses the short- and long-run effects of trade openness on financial development in a panel including data on 35 European countries over the period 2001-2019. For this purpose, it uses the PMG (pooled mean group) estimator for dynamic panels developed by Pesaran et al. (1999). The...
Persistent link: https://www.econbiz.de/10012514560
Persistent link: https://www.econbiz.de/10003624594
metastudy of the historical demography literature shows that the EMP did not prevail throughout Europe, its three key components … did not always coincide, and its more extreme manifestations were associated with economic stagnation rather than growth … structure ; population growth ; women ; human capital ; culture ; institutions …
Persistent link: https://www.econbiz.de/10009743774
January 1, 2001 to December 29, 2017, we implement the test for asymmetric non-causality of Hatemi-J (2012), the asymmetric …
Persistent link: https://www.econbiz.de/10011897569
Persistent link: https://www.econbiz.de/10003397221
, and country samples. In addressing causality, we find, first, significant growth effects of cognitive skills when …We provide evidence that the robust association between cognitive skills and economic growth reflects a causal effect … sensitivity analyses of cross-country growth regressions generate remarkably stable results across specifications, time periods …
Persistent link: https://www.econbiz.de/10003806721
Standard economic models predict that the choice of an exchange rate regime has important implications for the interdependency of national monetary policies, which is sometimes measured by the degree of inflation transmission across borders. In this paper, we examine how inflation rates in two...
Persistent link: https://www.econbiz.de/10011409761