industrial production, at both the seasonal and zero frequencies based on tests of cointegration and seasonal cointegration. Two …-run relationship between money (M1 or M2) and output in the sense that the null of no cointegration cannot be rejected. …

We employ parametric and non-parametric cointegration to investigate the extent of integration between African stock … markets and the rest of the world. Long-run correlation estimates imply very low association between the two. The two distinct … cointegration approaches confirm the latter through recursive estimation. The implication is that global market movements may have …

We employ parametric and non-parametric cointegration to investigate the extent of integration between African stock … markets and the rest of the world. Long-run correlation estimates imply very low association between the two. The two distinct … cointegration approaches confirm the latter through recursive estimation. The implication is that global market movements may have …

returns and exchange rate are integrated of order one. The Engle–Granger Cointegration test is then performed, suggesting that …

. This is achieved through the use of multivariate cointegration analysis that determines and accounts for structural breaks …

Area; US and the rest of the world. By applying univariate unit root tests as well as a multivariate cointegration test, we …