capital integration with cointegration techniques. This approach minimizes the risk of accepting the null of no cointegration … provide partial support in favor of cointegration, and therefore for capital markets integration, among stock market indices … when proper attention is given to issues like the identification and temporal stability of the cointegration vectors as …

between the variables. The evidence reveals that there is a strong long-run cointegration. The robustness of the ARDL bounds … test cointegration was confirmed using the newly-developed combined cointegration, which also provided the same evidence … for a strong long-run relationship. The Granger causality test results indicate a long-run bidirectional causality between …

; cointegration ; nonlinear vector error correction …

the causality mainly runs from effective exchange rates to current accounts and occurs through valuation e ects. However …

determinants in some countries. To revisit this puzzle in an emerging market currency, we analyzed the cointegration of the … empirical results based on Autoregressive Distributed Lag (ARDL) and Nonlinear Autoregressive Distributed Lag (NARDL) models …