The aim of this paper is to investigate empirically the question of whether financial development leads to economic growth in a small, developing country like Tunisia. The paper focuses on the causal link between finance and economic growth in order to discriminate between several alternative...

Past empirical analysis of the relationship between wages and prices within the expectations-augmented Phillips curve model have raised doubts about the effects of labor costs on inflation. Analysis of the same data used previously reveals the existence of a deterministic linear time component...

The aim of this paper is to empirically investigate the sources of inflation in Egypt. For this, price dynamics is herein represented by a vector error-correction model, which we use to test for the existence of a long-run relationship between the consumer price index, real gross domestic...