The derivation of the Balassa-Samuelson effect allows for different empirical specifications that may have important economic implications. Problems related to spurious regression could arise from the mixed order of integration of the series used and from the lack of a long run stable...

The paper basically aims to clarify the level of price competitiveness of the Turkish firms towards the EU Single Market in aggregate level. Thus it naturally examines the demand for exports and imports for Turkey in relation to the EU. In order to model the trade between Turkey and the EU, we...

The study investigates the relationship between the foreign direct investment (FDI) and Gross Domestic Product (GDP) over the period 1975-2013. Granger causality test & Johansen's co-integration test have been applied to explore the direction of causality & long run relationship between the...

This contribution investigates the business cycles of Switzerland compared to its five neighboring countries Germany, Austria, Italy, France and Liechtenstein. In contrast to the widespread notion of small countries "importing" the business cycle from bigger neighbors, it is shown that the real...

Using time-series and panel data from 1986 to 2004, this paper examines the Granger causality relations between GDP, exports, and FDI among China, Korea, Taiwan, Hong Kong, Singapore, Malaysia, Philippines, and Thailand, the eight rapidly developing East and Southeast Asian economies. After...

The purpose of this study is to examine the impact of Outward Foreign Direct Investment (OFDI) on economic growth. Two econometric approaches are applied: cross-country regression for the sample of the selected ASEAN countries and a time series approach for China. Both approaches suggest that...

Taking Turkey's experience as a case study, this study provides further insights into the evaluation of time-varying Granger-causal relationships in the trade openness and economic performance nexus. We reinvestigated the Granger-causal relationships between trade openness and real economic...