The relationship between foreign direct investment and domestic investment is intriguing. An important question arises - does foreign direct investment crowd in or crowd out domestic investment? This paper examines this nexus in the post-1991 period in India, which is also considered as the...

Objective: The objective of the article is to examine the export-led growth hypothesis in the Southern African Customs Union (SACU). Research Design & Methods: This study employs annual data on output, exports, imports, and a structural dummy variable for SACU countries, namely, South Africa,...

Building upon the insight that M1 velocity is the permanent component of nominal interest rates - see Benati (2020) - I propose a novel, and straightforward approach to estimating the natural rate of interest, which is conceptually related to Cochrane's (1994) proposal to estimate the permanent...

This survey paper discusses the Cointegrated Vector AutoRegressive (CVAR) methodology and how it has evolved over the past 30 years. It describes major steps in the econometric development, discusses problems to be solved when confronting theory with the data, and, as a solution, proposes a...

This study investigates the stock price-economic activity nexus in 12 member countries of the Organization for Economic Cooperation and Development (OECD) by employing monthly data over the period 1981:1-2018:3. For this purpose, the study uses Granger causality in the frequency domain in the...

Tourism has become the world's third-largest export industry after fuels and chemicals, and ahead of food and automotive products. From last few years, there has been a great surge in international tourism, culminates to 7% share of World's total exports in 2016. To this end, the study attempts...

This paper uses the panel data of 15 countries from 2009 to 2020 to construct the time-varying parameter panel vector error correction model for testing the hypothesis of dynamic hedging characteristics of gold on exchange rate. As the existing literature has never considered that the foreign...