methodology of Gregory-Hansen to avoid such issue, but we found that there was no evidence of cointegration with breakpoint, so … sector. In the short run, there was a one-way causality from GDP to ITE at the level of 1%, confirming the economic …-driven tourism growth hypothesis. Also, we found with Breitung and Candelon causality that there was same causality at the level of …

co-integration, Vector Autoregressive Model and Vector Error Correction Model are employed to identify the long-run and … short-run dynamics among the variables, and Granger causality test in order to determine the direction of causality. The … study findings show that there is unidirectional causality and runs from GDP to bank lending. The insignificant contribution …