The study concentrates on the relationship between disaggregate energy consumption and industrial output in Pakistan by utilizing the Johansen Method of Cointegration. The results confirm the positive effect of disaggregate energy consumption on industrial output. Furthermore, bidirectional...

The use of cointegration tests has become very popular in the empirical analysis of the tourism-led growth hypothesis (TLGH). It was first introduced in the tourism economics literature by Balaguer and Cantavella-Jordà (2002) and then popularized by many researches which tried to assess the...

Microfinance empower low-income individual who are capable of lifting themselves out of poverty if given access to financial services but most of microfinance institutions in the world “charge high rates but not make high returns on account of large credit write-offs”. This paper expects to...

This paper examines long and short-run relationships among three emerging Balkan stock markets (Romania, Bulgaria and Croatia), two developed European stock markets (Germany and Greece) and United States (U.S.), during the period 2000 - 2005. We apply Johansen's (1988) cointegration methodology...

External Debt (ED) is considered as a significant source of income for developing countries. Bangladesh relied on foreign debt to finance its balance of payments deficit and saving investment gap. Primary objective of this paper is to explore the relationship between external debt and Gross...

The study concentrates on the relationship between disaggregate energy consumption and industrial output in Pakistan by utilizing the Johansen Method of Cointegration. The results confirm the positive effect of disaggregate energy consumption on industrial output. Furthermore, bidirectional...