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 … to economic growth. We find little evidence of reverse causation as well as bi-directional causality. We interpret this …

for Australia, Belgium, Germany, Ireland, Netherlands and the UK; Granger causality from government debt to the primary …

), and (iii) long-run causality runs in both directions, suggesting that, on average, an increase in unionization reduces …

attendance rates for a panel of countries from 1925 to 1990. We employ panel cointegration and causality techniques to control … for omitted variable and endogeneity bias and test for the direction of causality. We show that there exists a negative …, different measures of church attendance, and alternative specifications of the income variable. Long-run causality runs in both …

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 … to economic growth. We find little evidence of reverse causation as well as bi-directional causality. We interpret this …

), and (iii) long-run causality runs in both directions, suggesting that, on average, an increase in unionization reduces …

restrictive business and labor market regulations. The results also show that long-run causality runs in both directions …