This paper investigates the long run and short run relationships of monetary policy, inflation and economic growth in Pakistan using co-integration and causality analysis during the period 0f 1972-2010. A large number of empirical studies on the relationships of monetary policy and inflation are...

This study investigates the causal links among agricultural imports, agriculture productivity, and economic growth in 40 sub-Saharan African countries over the period 1990-2015. Granger causality tests are applied to infer direction of causality, and the generalized two-stage least squares...

Nowadays many developing countries focus on economic policies for promoting international tourism and exports expansion as a potential source of economic growth of the country. However, the understanding of the relationship between exports and economic growth is still ongoing. When treating the...

In economic development, structural change among the three main sectors of an economy accompanies with aggregate economic growth. Nevertheless the question whether economic growth causes structural change or change in the economic structure causes aggregate growth is still unanswered. To shed...

This paper reviews the main features of the banking and financial sector in ten new EU members, and then examines the relationship between financial development and economic growth in these countries by estimating a dynamic panel model over the period 1994-2007. The evidence suggests that the...

We investigate whether a causal interpretation of the robust association between cognitive skills and economic growth is appropriate and whether cross-country evidence supports a case for the economic benefits of effective school policy. We develop a new common metric that allows tracking...

The main purpose of this paper is to analyze the causal relationships between defence spending and economic growth using the Toda-Yamamoto approach to Granger causality test in the case of selected NATO countries for the period of 1949-2006. NATO countries spend biggest proportion of defence...

We consider the relationship between tourism and economic growth for Latin American countries since 1985 until 1998. The analysis proposed is based on a panel data approach and the Arellano-Bond estimator for dynamic panels. We obtain estimates of the relationship between economic growth and...

We analyse the Granger causal relationships between foreign direct investment (FDI) and GDP in a sample of 31 developing countries covering 31 years. Using estimators for heterogeneous panel data we find bi-directional causality between the FDI-to-GDP ratio and the level of GDP. FDI has a...