-directional causality between money and income. When we apply Granger Causality tests we find that income Granger causes money. The … causality disappears when we add interest rates. Next when we use an Error Correction Model the results of the traditional … Granger causality tests hold true in the bivariate system. But, we observe bi-causality under longer lag specifications, and …

attendance rates for a panel of countries from 1925 to 1990. We employ panel cointegration and causality techniques to control … for omitted variable and endogeneity bias and test for the direction of causality. We show that there exists a negative …, different measures of church attendance, and alternative specifications of the income variable. Long-run causality runs in both …

under the framework of Granger causality and panel cointegration for Pakistan over the period 1981-2008. The result supports … result also supports the evidence of long-run causality running from GDP to FDI, while in the short run, the evidence of two …-way causality between FDI and GDP is identified. At the sectoral level, the effects of FDI on growth vary significantly across …

), and (iii) long-run causality runs in both directions, suggesting that, on average, an increase in unionization reduces …

the direction of potential causality between financial and economic development. Our results conclude to the existence of … 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 …

the direction of potential causality between financial and economic development. Our results conclude to the existence of … 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 …

a two-way causality between the growth of real GDP and the growth of the number of patents. For panel data, we find that … Granger causes the growth of the number of patents. However, we do not find any evidence of reverse causality. …

for Australia, Belgium, Germany, Ireland, Netherlands and the UK; Granger causality from government debt to the primary …

for Australia, Belgium, Germany, Ireland, Netherlands and the UK; Granger causality from government debt to the primary …

run. Based on the results of the panel causality test, though the evidence of short-run causality is very weak, it does … show long-run unidirectional causality running from the overall index of globalization, economic globalization, and social …