In this study; it is investigated that gross domestic product (GDP), foreign direct investment (FDI) and aggregate credits (CR) relationship of seven developing countries over the period of 1982-2010. Firstly, CDLM tests were applied to detect the cross-sectional dependency. Then, SURADF and...

In the sequel of its seminal application in Davidson, Hendry, Srba and Yeo (1978) the single equation error correction model has been widely used in empirical practice. Providing a clear distinction between short- and long-run dynamics this model allows OLS-methods to be as efficient as...

In this paper we follow an empirical approach to examine the implications of the Fisher hypothesis, namely cointegration linking interest rates and inflation, and stationarity of the real interest rate implying in turn homogeneity of the potential equilibrium relation. The considered sample is...

Regarding inflation as being a monetary phenomenon in the long-run is a widely-held view in modern macro economics. We analyse this topic by means of a P-star model. Based on the quantity theory of money, this approach explains inflation via a supposed equilibrium price level (P-star), which...

Prepayment of health care ?financing is a crucial factor to ensure that all individuals have access to effective public and personal health care at a¤ordable prices. However, it is important to fi?nd out what the determinants of the level of prepayment are. More speci?cally, does more...

Purpose – This paper seeks to use empirical evidence to examine the role of Islamic banks' financing on economic performance of selected countries (Malaysia, Indonesia, Bahrain, UAE, Saudi Arabia, Egypt, Kuwait, Qatar and Yemen). Design/methodology/approach – Using quarterly data...

This paper extends the empirical literature about the effects of fiscal decentralization on the growth of government along three dimensions. It distinguishes between the effects of the level of decentralization from the way local governments finance their expenditures (common pool versus own...

This paper investigates the idea that the dynamics of national innovation systems is driven by the coevolution of two main dimensions: innovative capability and absorptive capacity. The empirical analysis employs a broad set of indicators measuring national innovative capabilities and absorptive...