This study investigated the directional linkages among net foreign portfolio investment volatility, financial deepening and capital market performance in low-income Southern African Development Community (SADC) countries employing a dynamic panel vector error correction model (P-VECM) on...

This paper disaggregates energy consumption and GDP data according to end-use to analyze a broad number of developed and developing countries grouped in panels by similar characteristics. Panel long-run causality is assessed with a relatively under-utilized approach recommend by Canning and...

Real price levels are systematically lower in developing countries than in developed countries. This paper provides time series evidence about the effect of financial development on real price level differences for 40 developing countries. Based on cointegration tests, we find a long-run...

This article identifies the best models for forecasting the volatility of daily exchange returns of developing countries. An emerging consensus in the recent literature focusing on industrialized countries has noted the superior performance of the Fractionally Integrated Generalized...

The relationship between trade and democracy according to the broad scholarship is controversial. The most significant advance in this field is empirical. However, the empirical tests that lack sound theoretical foundations imply correlation and not causation. This paper resolves the puzzle of...

Distinguishing two components of the preference for geographical proximity – the domestic country bias assessing investors' holdings within the domestic market, and the foreign country bias assessing investors' bilateral holdings within a particular host, I document a number of stylized facts...

Are natural resources a "curse" or a "blessing"? The empirical evidence suggests either outcome is possible. The paper surveys a variety of hypotheses and supporting evidence for why some countries benefit and others lose from the presence of natural resources. These include that a resource...

The Environmental Kuznets Curve (EKC) hypothesis advances an inverted U-shaped relationship between economic growth and environmental pollution. Scholars have estimated turning point incomes for various pollutants within and across countries. However, the majority of these studies were conducted...

The research focus on the analysis of interdependence of economic and ICT development results from the fact that, in recent decades, ICTs have become a dominant factor in generating socio-economic prosperity of countries. ICT expansion is a stimulus for economic growth, and vice versa. In order...