The UK's decision to leave the EU continues to have major economic, political and social implications. It is therefore unsurprising that the reasons behind Brexit have been widely discussed. However, whilst existing empirical evidence has tended to focus on specific factors, we undertake a...

This paper aims to assess the relationship among fiscal variables (net lending, government expenditure and revenue) and economic growth in Sub-Saharan African countries. Using yearly data for the period between 1980 and 2011 in 15 ECOWAS countries, a weak long-run relationship between government...

The substantial literature on the existence of an inverted U-shaped relationship between environmental degradation and economic growth-known as the Environmental Kuznets Curve (EKC)-has produced very mixed evidence. This largely depends on model and variable selection uncertainty. We address...

We expand the standard balance-of-payments-constrained (BOPC) growth rate model in three directions. First, we take into account the separate contributions of exports in goods, exports in services, overseas remittances, and foreign direct investment (FDI) inflows. Second, we use state-space...

Reserve requirements, as a tool of macroprudential policy, have been increasingly employed since the outbreak of the great financial crisis. We conduct an analysis of the effect of reserve requirements in tranquil and crisis times on credit and GDP growth making use of Bayesian model averaging...