We examine the effect of energy exports and globalization on economic growth using the bias-corrected least square dummy variable model in a panel of five South Caucasus countries (Azerbaijan, Armenia, Georgia, Russia and Turkey) over the period of 1990–2009. We provide evidence that higher...

This paper considers the possibility of both a linear effect and nonlinear effect of energy consumption on economic growth, using data for the period 1955–2003 in Taiwan. We find evidence of a level-dependent effect between the two variables. Allowing for a nonlinear effect of energy...

Using the Solow-Swan growth model and the time-trend included in the aggregate production function, this study applies the multivariate cointegration approach to re-investigate the long-run and causal relationships between defence expenditures and GDP while controlling for capital and labour...

Purpose – The purpose of this paper is to re-examine the long-run co-movement and causal relationship between GDP and social security expenditures. Design/methodology/approach – The paper uses panel data unit root tests and panel cointegration tests, as well as estimation techniques...