and economic growth. We make use of a Johansen-based panel cointegration methodology allowing for cross-country dependence … the direction of potential causality between financial and economic development. Our results conclude to the existence of … a single cointegrating vector between financial development and growth and of causality going from financial development …

between unionization and income inequality for a sample of 20 countries. Using heterogeneous panel cointegration techniques …), and (iii) long-run causality runs in both directions, suggesting that, on average, an increase in unionization reduces …