This article employs financial development as the threshold variable to construct a threshold model and to re-examine the findings in Rousseau and Vuthipadadorn (2005) for 10 Asian economies. Our results show that in the high financial development regime, financial development could fuel...

This study empirically re-investigated whether carbon dioxide (CO2) emissions series were stationary in 21 OECD countries during the 1960-2000 period. A suite of test statistics were employed, proposed by Sen (2003), with a model that simultaneously allows for a break within the context of...

Employing an advanced bootstrap VAR model with a fixed rolling window, we investigate the causal nexus between insurance activities and banking credit in China. Parameter stability tests show that none of the traditional VAR models have stable parameters, and hence the full sample results are...

This article applies the test by Kapetanios et al. (2003) to re-examine the nonlinear stationarity of real exchange rates in which we emphasize both the real bilateral exchange rates and the real effective exchange rates. Our empirical findings provide weak evidence on the nonlinear...