This paper investigates the long-run and short-run linkages between insurance activity and banking credit for G-7 countries. To minimize the pretest bias and overcome the structural changes, we adopt the bootstrap Granger causality test applied to full sample and subsamples with a fixed window size. The Johansen cointegration test with GMM-IV estimator finds a long-run positive relation between...

It is no longer news that Nigeria runs a single-product economy where the only source of revenue for country crude oil exportation. Changes in prices international market continue to have severe implications on country's economy's growth rate, exchange rate and even inflation. This study seeks investigate impact four key variables (crude price, real inflation population) Nigeria’s economic grow...

 Based on the recent literature of heterogeneous firms, productive firms self select themselves into foreign markets. In this framework, there is a productivity rise prior to exporting. On the other words, different export performance across firms is linked to their heterogeneity.   The main purpose of the present paper is to examine the so-called hypothesis of heterogeneous firm in Iran. For ...

This study estimates the effects of Internet usage, financial development and trade openness on economic growth using annual time series data for South Africa for the period 1991-2013. Structural unit root test and Johansen and ARDL cointegration tests are performed to examine the long run relationship amongst Internet usage, financial development, trade openness and economic growth. Findings f...

This paper examines the causal relationship between stock prices and macroeconomic aggregates in Iran, by applying the techniques of the long–run Granger non–causality test proposed by Toda and Yamamoto (1995). We test the causal relationships between the TEPIX Index and the three macroeconomic variables: money supply, value of trade balance, and industrial production using quarterly data for t...