The Feldstein–Horioka Puzzle and structural breaks: Evidence from EU members

Structural breaks, tourism development, and economic growth: Evidence from Taiwan

Our paper differs from previous studies by examining the issue of whether regime changes have broken down the stability of the long-run relationships between tourism development and real GDP in Taiwan for the 1959–2003 period. We empirically investigate the co-movements and the causal relationships among real GDP, tourism development, and the real exchange rate in a multivariate model. We use t...

Purchasing Power Parity Hypothesis In OIC Countries: Evidence From Panel Unit Root Tests With Heterogeneous Structural Breaks

Financial Development and Economic Growth: Evidence from Ten New EU Members

This paper reviews the main features of the banking and financial sector in ten new EU members, and then examines the relationship between financial development and economic growth in these countries by estimating a dynamic panel model over the period 1994-2007. The evidence suggests that the stock and credit markets are still underdeveloped in these economies, and that their contribution to ec...

Structural Changes and the Index of Economic Well-being: Empirical Evidence from the Iranian Economy

It is a well-established empirical fact that economic growth and development brings about major changes in sectorial output, employment, and consumption structure. In the context of economic development discussion, structural change refers to the change in key components of macroeconomic indicators, including national production and expenditure, exports and imports, population, and the sectoria...

Are Renewables Effective in Promoting Growth? Evidence from 21 EU Members