This article explores whether there were a long-term equilibrium relationship between industrial production and capital goods and raw material being imported to Colombia from January 1993 to April 2005. Such relationship was determined from a seasonal co-integration model; the resulting model...

This paper examines the sensibility of a proposed monetary union in the Southern African Development Community (SADC). The study hypothesizes that the majority of the economies in the SADC region are candidates for a monetary union. We test this hypothesis against one of the prime optimal...

This paper examines the link between real exchange rate volatility and domestic investment by using panel data cointegration techniques. We study the empirical connection between real effective exchange rate volatility and investment for 51 developing countries (23 low-income and 28...

This paper empirically examines the dynamic causal relationships between electricity consumption and economic growth for five different panels (namely high income, upper middle income, lower middle income, low income based on World Bank income classification and global) using time series data...

The temporal interdependence between saving and output has been in focus in a number of recent empirical studies. Results from these studies have compelled some authors to question the traditional notion of a causal chain where saving leads growth through capital accumulation. This paper...

The main focus of this paper is to measure the speed of adjustment of the exchange rate by means of the persistent profile approach developed by Pesaran and Shin (1996) to examine the symmetry and proportionality assumptions of the purchasing power parity (PPP) theory of exchange rates for the...