This paper investigates cointegration with respect to nine commodity groups traded on international markets. Nonparametric bootstrapping is utilized in the testing procedure. Of the 21 pairs of price series, investigated here, for 13 the no-cointegration null hypothesis is rejected in favour for...

The present paper provides further empirical evidence on the credit view (i.e., bank credit availability has a positive impact on macroeconomic activity) by investigating the case of Finland. The Finnish economy suffered a severe recession in the early 1990s that was marked by widespread banking...