The aim of this paper is to investigate the long run relationship between the development of banks and stock markets … 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 …

that there is a long-run Granger causality running from key macroeconomic factors to stock prices, but in short-run, only …

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 …

correction model, we find that GDP and social security expenditure lack short-run causality, but reveal the existence of long …-run bidirectional causality. This shows that, in the long run, economic growth must be based on a social welfare policy that should be …

relationship between tourism development and economic growth using Granger causality tests in a multivariate model and using the …

testing approach to cointegration and Granger and Toda-Yamamoto causality tests are conducted for quarterly data. The results …

function (GIRF) and variance decomposition (VDC). In the long-run, the finding suggests evidence of bidirectional causality … used, turnover ratio (TR) and value of shares traded (VT); both indicate unidirectional causality from economic growth to …

countries comparatively. The impacts of both stock markets and banks on economic growth are examined by using a panel data set … both stock markets and banks positively influence the economic growth, the results of econometric evidence relevant to …