This paper challenges the common view that exports generally contribute more to GDP growth than a pure change in export volume, as the export-led growth hypothesis predicts. Applying panel cointegration techniques to a production function with non-export GDP as the dependent variable, we find...

This paper investigates the causality interactions between potential financing sources of investment and economic growth in North African countries. For each one of them, trivariate vector autoregressive (VAR) models were estimated. We find that domestic saving follows their economic growth. We...

This paper examines the long-run relationship between top income shares and economic growth for a panel of nine high-income countries over the period from 1961 to 1996. We use panel cointegration and causality techniques that are robust to omitted variables, slope heterogeneity, and endogenous...