T he Causal relationship between financial development and economic growth has received divergent views in the literature under the traditional Granger approach to causality using data from various countries. The more recent Toda and Yamamoto and Dolado and Lütkepohl (TYDL) approach to causality were used to investigate the causal relationship between financial development and econom...

Multinationals exhibit distinct agglomeration patterns which have transformed the global landscape of industrial production (Alfaro and Chen, 2014). Using a unique worldwide plant-level dataset that reports detailed location, ownership, and operation information for plants in over 100 countries, we construct a spatially continuous index of pairwise-industry agglomeration and investigate the pat...

There has been much discussion on the relationship between education and economic growth. A few studies have examined the increasing trend of female enrolment in educational institutions and economic growth. The objective of this paper is to empirically investigate four alternatives but equally plausible hypotheses. These are: i) GDP cause female enrolment proxies (the conventional view), ii) F...

Uutilizing unit root and cointegration techniques, we find out of 96 countries only 8 show unidirectional or bidirectional causality from exports to GDP with positive relationship between the two variables. Causality from GDP to Exports with positive relationship between the two variables is found for only 9 countries.

The present study attempts to examine the casual relationship between foreign capital inflows and economic growth in India. Using the pair-wise Granger causality test (1969), this paper specifically examines casual relationship between foreign capital inflows and economic growth in India. The important observations emerge from pair-wise Granger causality test which shows there is the long-run e...

after the war with iraq which ended in 1988, iran implemented several agricultural support policies based on five-year national development plans. the main objective of these plans in the agriculture sector was to make the agricultural economy more market-oriented and to encourage sustainable agriculture. this paper investigates the extent to which iran's government has been able to achieve thi...

This paper explores the causal relationship between economic growth, trade openness and energy consumption using data of 15 Asian countries. The study covers the period of 1980–2011. We have applied panel cointegration and causality approaches to examine the long-run and causal relationship between variables. Empirical results confirm the presence of cointegration between variables. The impact ...

This paper addresses the issue of causality in the relationship between various types of institutions—namely, political and economic freedom—and long-run economic growth. It is shown that existing empirical studies of these relationships provide evidence of correlation, but not causation. Granger causality tests of freedom vs. growth, and freedom vs. investment are conducted using aggregate mea...

This chapter provides an overview of a range of probabilistic theories of causality, including those of Reichenbach, Good and Suppes, and the contemporary causal net approach. It discusses two key problems for probabilistic accounts: counterexamples to these theories and their failure to account for the relationship between causality and mechanisms. It is argued that to overcome the problems, a...