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paper tests for both panel unit roots and cointegration before employing the panel vector error-correction model (VECM …
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control variables. To test for causality in the face of cointegration, a vector error correction model (VECM) is used in place … causal direction. Our estimation results suggest GDP growth has one cointegrating vector relationship with corruption, EU aid … to GDP growth and a short-run unidirectional causal relationship from trade to GDP growth. Corruption (which is a …
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testing approach to cointegration and the error correction model ECM-based Granger-causality, the study found a bidirectional …
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