This study examines the relationship between coal consumption and economic growth for 15 emerging market economies within a multivariate panel framework over the period 1980–2006. The heterogeneous panel cointegration results indicate there is a long-run equilibrium relationship between real GDP, coal consumption, real gross fixed capital formation, and the labor force. While in the long-run bo...

We address a consistency problem in the commonly used nonparametric test for Granger causality developed by Hiemstra and Jones (1994). We show that the relationship tested is not implied by the null hypothesis of Granger non-causality. Monte Carlo simulations using processes satisfying the null hypothesis show that, for a given nominal size, the actual rejection rate may tend to one as the samp...

In recent years, there has been a rapid growth in Shanghai’s air logistics. The interaction between air logistics and international trade is paid more attention. In order to evaluate whether there is a positive causality between them, this paper has tested the Co-integration and Granger causality between Shanghai’s air logistics and international trade using relevant data from 1985 to 2009.And ...

This paper examines the relationship between stock returns and inflation. We focus on various econometric techniques to test this relationship, using monthly values of the Athens Stock Exchange Price index and the Greek Consumer Price index over the period 1988-2002. The results from a simple OLS model show evidence of a positive but not significant relationship, while when we consider a system...

This paper examines the relationship between foreign direct investment, openness and economic growth in Sudan during the period 1972-2011 using Granger causality and Johansen co-integration techniques to analyze the relationship and direction of causality between the variables. The study used autoregressive distributed lag (ARDL) approach to cointegration analysis proposed by Pesaran and Shin (...

The aim of this study is to determine the causality relationship between energy prices, which are among most important inputs economy, and selected stock market indices developed countries. Crude oil natural gas used as variables. G7 countries were represent Stock in Dow & Jones (USA), DAX (Germany), CAC40 (France), FTSE250 (England), FTSE Italia All Share (Italy), NIKKEI225 (Japan), S&...