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relationship in the presence of cointegration among three variables. Empirical results for Thailand during 2001Q1 and 2014Q2 … testing for cointegration in a multivariate framework. The error correction mechanism is employed to detect causal … suggest that there is long-run unidirectional causality between electricity consumption and real GDP. The source of causation …
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This contribution applies the cointegrated vector autoregressive (CVAR) model to analyze the long-run behavior and short-run dynamics of stock markets across five developed and three emerging economies. The main objective is to check whether liquidity conditions play an important role in stock...
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