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 …

, connection rates and electricity consumption remain low in grid connected areas, at least in the short and medium run. This paper … of grid electricity over time using a panel of 41 communities that were electrified up to ten years ago. We find that …, connection rates are much lower, at 51%. Furthermore, electricity consumption and appliance usage are low and did not grow over …

Improving electricity access in low-income countries is a challenging problem because of the high costs of grid … extension and low demand for grid electricity in rural areas. This study elucidates these constraints by analyzing poor … households' willingness-to-pay for different types of electricity access, including lower cost off-grid technologies. The …