This study estimates cointegration models by applying the Engle-Granger (1989) two-step es-timation procedure, the Phillip-Ouliaris (1990) residual-based test and Johansen's multivariatetechnique. The cointegration techniques are tested on the Raotbl3 data set, the World EconomicIndicators data...

This paper investigates the benefits of banks' direct investment in foreign subsidiaries and branches for non-financial multinationals. The paper builds on the literature on international banks which has primarily focused on the implications for host countries, rather than for its international...