causality between volatility and intra-trade durations. Under general conditions we propose several GMM estimation procedures …

existence of a long-run relationship between import demand and its determinants. We also present evidence of one-way causality … Nigeria. However, when structural breaks were introduced, bi-directional causality is observed; indicating the critical role …

. The study further establishes long- and short-run Granger causality running from GDP to electricity consumption for Benin … and short-run Granger causality running from GDP to electricity consumption for Togo. The results of the cointegration … test and the causality reflect better the Benin and Togo economies that are less dependent on electricity. The absence of …

effects is based on a selection-on-observables assumption, non-causality amounts to the conditional independence of outcomes … a time series setting. This leads to a generalized definition of Sims (1980) causality. A technical contribution is the …

-directional causality between money and income. When we apply Granger Causality tests we find that income Granger causes money. The … causality disappears when we add interest rates. Next when we use an Error Correction Model the results of the traditional … Granger causality tests hold true in the bivariate system. But, we observe bi-causality under longer lag specifications, and …