Our paper examines the triangular relationships between energy consumption, trade openness and economic growth of 45 countries from 1991 to 2014 using dynamic seemingly unrelated regression (DSUR) models. We confirm a bidirectional relationship among energy consumption and income, trade openness...

Economists have long debated whether the real exchange rate (RER) has a significant impact on export performance and output growth. Some claim that export performance depends only on nonprice competition and the RER is irrelevant to long-run growth, whereas others argue that the RER is a key...