This study investigates the causal relationship between economic growth, energy consumption and CO2 emission in Australia using time series data for the period of 1965–2007. Johansen cointegration technique is employed to examine the long run relationship between economic growth, energy...

The paper distinguishes between 'immediate measures of the quality of civil administration' (IM-QCA), such as corruption, and the 'final measure of the quality of civil administration' (FM-QCA), which is the growth performance of an economy. The paper argues that, instead of being monotonic and...

This article investigates the causal relationship between export composition and economic growth, among others, in the case of a strongly outward-oriented country, i.e. Korea. The cointegration tests show that cointegrating vectors exist among the concerned variables. Also, the error correction...

Sub-Sahara African countries have had a checkered past when it comes to good governance and institutions. Increasingly, economists and policy makers are recognizing the importance of governance and institutions for economic growth and development. The New Partnership for Africa’s Development...

The paper investigates the relationship between financial development and economic growth in seven Sub-Saharan Africa countries. Using the panel Granger causality test, the study finds one-way causality running from economic growth to bank developing indicators and a two-way causality between...

A theory of strongly endogenous interactive relationship in participatory development is expounded through the use of a class of models of complementarities between selected variables representing their underlying agencies. Such a model is referred to as circular causation approach and resembles...

This study develops a macroeconometric model for the Mauritian economy to explain long-run determinants of the country’s economic performance. The Engle-Granger (1987) two-step cointegration methodology is adopted to capture both short-run and long-run dynamic properties of the macroeconomy....

This paper revisits, empirically, the question of whether the choice of exchange rate regime (floating currency, fixed rate or intermediate arrangement) has a direct effect on the long-term growth of developing countries. We use fixed effects panel estimation on a relatively large sample of 70...

Development of tourism has often been considered as a positive contributor to economic growth. The impact of tourism to a country economy is multifaceted. As such, tourism may represent an excellent tool for development. This paper presents preliminary findings using descriptive statistics and...

The Brazilian economy has gone through a significant transformation during the past decade. Following nearly a quarter-century with very little growth in per capita GDP, there was a major change beginning in 2004. GDP per person (adjusted for inflation) grew at a rate of 2.5 percent annually...