Purpose – This study aims to provide time series evidence of the economic growth pattern of Greece and explain the hidden impact of its financial liberalization process since 1960, in terms of the links between trade and gross domestic output. Design/methodology/approach – Using time series...

Purpose – Exchange rate regime decisively impacts key policy objectives such as financial stability, inflation control, etc. The purpose of this paper is to overview the evolution of exchange rate regimes spanning 12 nations in the Latin American region over the last two decades and estimate...

Purpose – The purpose of this paper is to examine the short-term stock market interactions between US and six major Asian markets – China, India, Hong Kong, Singapore, South Korea and Taiwan. These six economies along with Japan and Australia have the largest stock exchanges in the...

This article estimates the size of the Romanian shadow economy (SE) using the currency demand approach, in order to evaluate if there is any relationship between the SE and unemployment rate (UR). Using Granger causality tests and error correction models, we examine the impact of both registered...

Conventional econometric analysis using VEC suggests that there is a long-term relationship between nominal world GDP and nominal world exports. The analysis cannot say anything about the causal relationships between the levels of GDP and exports. But it says a lot about the rules governing the...

This paper analyses the Panel Granger-causality relationship between GDP growth rate and inflation rate. Using Quaterly data for 5 South-East Asian Countries from 2nd quarter in 1997- 4th quarter in 2011, we conclude that there is clear Granger causality between GDP growth rate and inflation...

This paper extends prior research by jointly incorporating market indices, interest rates (both short- and long-term) and spot cross exchange rates, to investigate the relationship among seven Pacific-Rim (Australia, Hong Kong, South Korea, Malaysia, Singapore, Taiwan and Thailand) markets, to...

The basic answer to the question posed by the title is: yes. We follow Ewing et al. (2006) and examine the US federal revenue-expenditure nexus in an error-correction model allowing for asymmetric adjustment. Symmetric adjustment is rejected by data from the 1959.3 to 2007.4 period. However, as...

The aim of this paper is to analyze the cross-market interactions between crude oil prices and wheat prices. We investigate the dynamic relationship between world oil market and wheat market in assumption that the increase of volatility in wheat price is caused by the exogenous crude oil price....

This article investigates the cointegration level, and changes in the existence and direction of causality among volatilities. Vector autoregressive (VAR) model enables us to conduct Granger-causality and impulse response analysis, and determine the pattern of causality. The empirical findings...