In the first half of the paper I study spurious regressions in panel data. Asymptotic properties of the least-squares dummy variable (LSDV) estimator and other conventional statistics are examined. The asymptotics of LSDV estimator are different from those of the spurious regression in the pure time-series. This has an important consequence for residual-based cointegration tests in panel data, ...

The relatively high level of Nigeria’s external indebtedness, and rising debt burden which has serious implications on the country’s development and debt sustainability in terms of ability to pay has led to continued deterioration in Nigeria’s economic performance. This study examines the extent to which Nigeria’s external debt relates to indices of ability to pay in order to ascertain the sust...

Albania has experienced a rapid transition from centrally planned economy to mixed since the fall of communism in 1989. Policy changes, trade liberalization, and privatization have come about at pace, allowing foreign direct investment (FDI) international become key components Albania’s economy. Against this backdrop, study investigates relationships among FDI, trade, economic growth Albania. A...

Tourism contributes to the growth of an economy via earning foreign currencies and employment opportunities. However, tourism also greater energy consumption because various tourist activities such as hotel accommodations transportation. This study investigates long-term cointegrating relationship between international arrivals primary in Australia. In addition, roles gross domestic product, fi...

Abstract The contributions of human capital development in achieving the sustainable cannot be overemphasized any economy, this is because investment education and health has been argued as strategic impetus for improving quality resources. Against backdrop, study investigates impact on goal one (1) – poverty reduction. utilizes Nigerian data combining Johansen Cointegration test, Granger causa...

Uncertainties and risks are two leading factors affecting investors’ decisions. In the presence of uncertainty, investors may postpone consumption investment decisions due to a wait-and-see policy, whereas be abandoned in risky situations. Due its high demand elasticity, particular, renders tourism as one sectors most affected by increase uncertainty risks. this context, it is aimed determine w...

The aim of this paper is to explore the characteristics and functioning of monetary transmission in Croatia. Time series analysis (unit root test, VAR, Johansen cointegration procedure, Granger causality tests and error correction model) is used to estimate the influence of exchange rate, interest rate and narrow money on the real economic activity. The results of econometric analysis suggest t...

The purpose of this paper is to identify the long-run and short-run relationship between values Macedonian Stock Exchange Index composed 10 most liquid listed stocks (MBI10), Zagreb (CROBEX) stocks, Sarajevo (SASX-10) Belgrade 15 (BELEX 15) selected macroeconomic variables. In order variables that affect stock indices, analytical-synthetic method statistical are applied. uses econometric models...

Inflation and unemployment rates are part of the macroeconomic factors affecting growth within Ghana's economy over years. The continued rise in country's gross domestic product a high dependency on external debt for development projects have sparked lot controversies. This study investigates whether debt, inflation, rate stimulate economic development, intending to determine causal relationshi...

Natural gas consumption is a significant issue in European countries due to the Russia-Ukraine war crisis. very important both for household and commercial purposes. The primary objective of this study investigate relationship between natural its determinants. Panel data collected from Eurostat World Bank publications, consisting five spanning 2009 2022, were used study. analysis, like panel un...