a financial cycle, followed by severe banking crises. Cointegration analysis and Granger causality tests suggest that …

cointegration test results confirm the existence of a long-run relationship among the variables in the model. Two equations were …

: variance bounds test, equity price bubbles test, and cointegration tests. The results from the variance bounds tests show that … West’s two-step test. There is no cointegration between stock prices and dividends from the results of both Engle …-Granger cointegration test and the bounds testing for cointegration. The divergence of stock prices from their fundamental value and no …

of this study is to investigate the direction of this relationship. Methods: Johansen test of Co-integration and Granger …

of this study is to investigate the direction of this relationship. Methods: Johansen test of Co-integration and Granger …

and economic growth. We make use of a Johansen-based panel cointegration methodology allowing for cross-country dependence …