This paper is a contribution to the on-going debate over whether there is a relationship between energy consumption and economic growth. Although the oil exporting countries are among the most energy-intensive economies in the world, little attention has been paid to the features of their energy...

This paper applies likelihood-based panel cointegration techniques to examine the existence of a long run relationship between GDP, tourism earnings per tourist and total trade volume for a panel of European countries over the period 1988–2010. Removing the cross dependency, our panel...

This article examines the empirical determinants of import demand in oil exporting countries. We show by a panel cointegration analysis that the import demand in these countries depends positively on domestic demand and exports, the real exchange rate and oil prices. While the current account...

This paper investigates the causal relationship between CO2 emissions and GDP in a panel of 11 selected oil exporting countries by using panel unit root tests and panel cointegration analysis for the period 1970-2011. A three-variable model is formulated with openness as the third variable. The...

This paper examines the degree of capital mobility in the countries of the Caucasus. I estimate a simple model developed in the seminal paper by Feldstein and Horioka (1980). I construct a panel of 6 countries of the Caucasus – Armenia, Azerbaijan, Georgia, Kazakhstan, Russia, and Turkey –...

The objective of this study is to investigate the relationships between tourism development and economic growth in developing countries using the newly developed heterogeneous panel cointegration technique. This study examines the causal relationship between tourism development and economic...

This paper reconsiders the classic relationship between trade and economic development. We examine the short-term and long-run dynamics between trade and income for 167 countries over the period 1970–2011 and assume that the effect is not homogenous for all countries but rather varies...

This study attempts to investigate market power in the U.S. commercial banking industry since the U.S. government began to deregulate the banking sector in the early 1990s using the static Bresnahan–Lau model (SBLM) and dynamic Bresnahan–Lau model with error corrections (DBLEC). In...

In recent years, the spreads of CDS that are crucial aspects in detecting the financial risk level of countries have been taken more notice of by investors. In this paper, we investigate the relation between CDS spreads and countries' stock indices by using Basher and Westerlund (2009) panel...