Because of the lack of econometric studies in relevance to the link between tourism and renewable energy, the goal of this study is to remedy this lack and to explore the causal relationships between renewable energy consumption, the number of tourist arrivals, the trade openness ratio, economic...

This study investigates the nexus between shadow banking, bank risk and monetary policy in emerging economies. The importance of this topic arises from its impact on the relationship between price and financial stability objectives of the regulator. In essence, the existence of financial market...

This paper analyses the impact of insurance sector development on economic growth based on a sample that includes 14 Central and Eastern European (CEE) post-transition countries for a period of 19 years, from 1998 to 2016. Considering the presence of cross-section dependence and multiple...

This paper estimates the magnitude of the Baumol-Bowen and Balassa-Samuleson effects in the Polish economy. The purpose of the analysis is to establish to what extent the differential price dynamics in Poland and in the euro area and the real appreciation of PLN against EUR are explained by the...

This paper examines the relationship between federal transfers and fiscal deficits in India. The system of federal transfers has been criticized on the grounds that it distorts the incentives for states to promote fiscal discipline. We analyze the relationship between transfers, state domestic...

This paper investigates the relationship between energy prices and the real effective exchange rate of commodity-exporting countries. We consider two sets of countries: 10 energy-exporting and 23 non-fuel commodity-exporting countries over the period 1980-2011. Estimating a panel cointegrating...

The authors address the issue of estimation and inference in dependent non-stationary panels of small cross-section dimensions. The main conclusion is that the best results are obtained applying bootstrap inference to single-equation estimators, such as fully modified ordinary least squares and...

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...

In this paper we add to the debate on the public capital - productivity link by exploiting very recent developments in the panel time series literature that take into account cross sectional correlation in non-stationary panels. In particular we evaluate the productive effect of public capital...

Energy plays a vital role in economic development. It performs a key for sustainable development. Hence, many studies have attempted to look for the direction of causality between energy consumption (EC), economic growth (GDP) and CO2 emissions. This paper, therefore, applies the panel unit root...