Mengesha, Seyoum Teffera; Berde, Eva - In: Cogent Economics & Finance 11 (2023) 2, pp. 1-26
-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 …