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This paper examines the interaction between financial development and economic growth of the Economic Community Of West African States (ECOWAS) and West African Economic and Monetary Union (WAEMU) using non-stationary panel data methodology and a panel cointegration approach. We estimate a...
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approach to cointegration within an ARDL framework proposed by Pesaran et al. (2001) and the augmented Granger causality test …
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correlated estimator (DCCE) and a panel Granger-causality test. We use panel data on 22 emerging markets over the period 1980 … positive effect on economic growth, and their relationship is linear. We also find solid bidirectional Granger causality …
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–Hurlin causality test results, there is a causality relationship between all financial development indicators and growth. According to …
Persistent link: https://www.econbiz.de/10014446916
-Yamamoto causality test and the nonlinear autoregressive distributed lag (NARDL) modeling framework to analyze the data. Our results show … stationary. Using the Toda-Yamamoto causality test, we find no causality running from financial development to economic growth …, but there is evidence of reverse causality from economic growth to financial development. Furthermore, the NARDL model …
Persistent link: https://www.econbiz.de/10015074758
-run Granger causality are employed. Usage of optimally specified econometric methods in contradiction to purely discretionary …
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