cointegration approach. The results suggest debt servicing, inflation and private investment to be negatively associated. The study … coefficient of the error correction term confirms the long run causality between explanatory variables and private investment. The … pair-wise Granger causality concludes unidirectional causality from private investment to GDP growth, from private …

This paper employs cointegration and Granger causality tests to determine a relationship between the Spanish and the …-directional causality between German and Spanish inflation for the entire period as well as for the first sub-period. In the second …