This study employs cointegration technique to determine the co-movement of ten national stock markets indexes in Africa. Using monthly indexes spanning February, 1997 to October, 2011, results demonstrate less than full cointegrating vectors, which suggest African stock markets are not fully...

This paper examines whether convergence of real income exists among the Association of South East Asian Nations (ASEAN) and South Asian Association for Regional Cooperation (SAARC) countries for the period covering 1970-2009. Univariate Lagrange Multiplier (LM) unit root tests with structural...

With special emphasis on the influence of stock market development, this paper examines the impact of financial development on economic growth in selected African countries over the period from 1990 to 2009. Using the GMM approach, results suggest that African stock market, in terms of...

In this paper, we examine the presence of convergence of real per capita incomes in G7 countries for the period of 1870-2008, using the group average and pairwise approach. Lee and Strazicich (2003, 2004) unit root tests that provide for structural break(s) are utilised to verify incidence of...

This paper empirically analyzes spillover effects from foreign direct investment using the firm level panel data of Indian manufacturing during 2000-01 and 2009-10. It first estimates the productivity and efficiency of the domestic and foreign firms separately before examining the spillover...

This paper investigates the causal relationship between economic growth, urbanisation and electricity consumption in the case of Angola, while utilizing the data over the period of 1971–2009. We have applied Lee and Strazicich (2003. The Review of Economics and Statistics 63, 1082–1089; 2004....

This study deals with the question whether financial development reduces CO2 emissions or not in case of Malaysia. For this purpose, we apply the bounds testing approach to cointegration between the variables. We establish the presence of significant long-run relationships between CO2 emissions,...

This study investigates the relationship between electricity consumption and real gross domestic product in Botswana (the world’s largest producer of diamonds). The study includes capital formation in a trivariate system for the period covering 1980-2008. Zivot and Andrews (1992) unit roots...

This paper investigates the causal relationship between economic growth, urbanisation and electricity consumption in the case of Angola, utilizing the data over the period of 1971- 2009. We have applied Lee and Strazicich (2003, 2004) unit root test to test the stationarity properties of the...