This article examines the causal relationship between tax revenues and government expenditures in twenty-two OECD countries, eleven European Union (EU) member states, and eleven non-EU. We use the Autorgressive Distributed Lag (ARDL) bounds test and the Toda-Yamamoto Granger noncausality...

This paper examines the effects of anticipated and unanticipated components of monetary policy on real output f or 12 countries in West Africa, using annual data from 1960 through 1990. There are two hypotheses that have been used in the literature to explain macroeconomic fluctuations. The...

This paper examines the long-run and dynamic temporal relationships between economic growth, energy consumption, population density, trade openness, and carbon dioxide (CO2) emissions in Brazil, China, Egypt, Japan, Mexico, Nigeria, South Korea, and South Africa based on the environment Kuznets...

This paper uses cointegration and vector error-correction techniques, Granger-causality tests and, generalized impulse response analysis to examine the ìtwin deficitsî phenomenon in Nigeria - a small open but oil dependent economy in Africa. We find evidence of positive relationship between...

This paper examines whether the variability of money growth caused changes in income velocity of money in 30 less developed countries. Time-series data show year-to-year variations in income velocity of money in these countries for the 1961-1990 period. Empirical results based on causality but...

This article examines the impact of exchange rate volatility on Nigeria's exports to its most important trading-partner-the United States over the quarterly period January 1980 to April 2001. Using cointegration and vector error correction (VECM) framework, empirical tests indicate the presence...

This paper models and tests the stability of the demand for money in five East Asian countries—Indonesia, Malaysia, Philippines, Singapore, and Thailand—in the context of an open economy. The Johansen multivariate cointegration vector error correction analysis against quarterly data covering...

The paper examines the causal relationship between tax revenues and expenditures in the G7 countries using cointegration and error-correction methodology. This statistical technique provides additional channels through which causality could emerge. The empirical results show that bidirectional...