This paper uses cointegration and vector error-correction techniques, Granger-causality tests and, generalized impulse response analysis to examine the ìtwin deficitsî phenomenon in Nigeria - a small open but oil dependent economy in Africa. We find evidence of positive relationship between...

This paper examines whether the variability of money growth caused changes in income velocity of money in 30 less developed countries. Time-series data show year-to-year variations in income velocity of money in these countries for the 1961-1990 period. Empirical results based on causality but...

This paper models and tests the stability of the demand for money in five East Asian countries—Indonesia, Malaysia, Philippines, Singapore, and Thailand—in the context of an open economy. The Johansen multivariate cointegration vector error correction analysis against quarterly data covering...

Purpose: The purpose of this paper is to examine the dynamic and long-run relationships among public debt, FDI and output growth in five individual Caribbean countries over the period 1975–2015. Design/methodology/approach: Zivot and Andrews (1992) unit root test with structural break is used...

This article examines the impact of exchange rate volatility on Nigeria's exports to its most important trading-partner-the United States over the quarterly period January 1980 to April 2001. Using cointegration and vector error correction (VECM) framework, empirical tests indicate the presence...