This paper studies the catching-up process in per capita income of the so-called Asian Dragons and Tigers. It contributes to the literature in several ways. First, it tests the catching-up hypothesis using the longest time span ever considered, from 1870 to 2014. Second, it documents the...

This study investigates changes in the relationship between oil prices and the US economy from a long-term perspective. Although neither of the two series (oil price and GDP growth rates) presents structural breaks in mean, we identify different volatility periods in both of them, separately....

In this paper we investigate whether long run time series of income per capita are better described by a trend-stationary model with few structural changes or by unit root processes in which permanent stochastic shocks are responsible for the observed growth discontinuities. To this purpose, we...

The main aim of this contribution is to study the link between the real exchange rate misalignment and the economic growth and to show the empirical proof from the case of Cameroon. An emerging country in which the exchange rate was devalued in order to deal with the major macroeconomic...

This study aims to investigate Granger causality between renewable energy consumption (REC) and economic growth (EG) for USA. To accomplish this objective and to add the stronger evidence to the controversial issue, the tests were done under a new framework that embeds wavelet analysis, a novel...

The empirical debate on the role of international tourism on local economic growth is inconclusive and is characterized by two main opposing views: the Tourism-led economic growth hypothesis and the Economy-driven tourism growth hypothesis. The objective of the study was to establish the role of...

This paper identifies five factors that can capture 95% of the variance across 39 US dollar exchange rates based on the principal component method. A time-varying parameter factor-augmented vector autoregressive (TVP-FAVAR) model is used to analyze the determinants of movements in these exchange...

In this paper, we challenge the traditional assumption of a linear relationship between exchange rate volatility and economic growth in South Africa. By using data collected from 1970 to 2016 applied to a smooth transition regression (STR) model, we are able to prove that the exchange...

We identify five factors that can capture 95% of the variance across 39 United States (US) dollar exchange rates based on the principal component method. We use a time-varying parameter factor-augmented vector autoregressive model to analyze the determinants of movements in these exchange rates,...

The relationship between foreign direct investment (FDI) inflows and economic growth in host countries is a heavily debated issue. Although some studies have found evidence of the positive impact of FDI on economic growth, others have revealed the opposite result. Studies that examined the...