This study employs cointegration technique to determine the co-movement of ten national stock markets indexes in Africa. Using monthly indexes spanning February, 1997 to October, 2011, results demonstrate less than full cointegrating vectors, which suggest African stock markets are not fully...

The paper examines the degree of capital mobility in Tunisia for 1970 to 2009 period, using Feldstein and Horioka (1980) method of savings and investment comovement. We apply ARDL bound test to assess comovement between savings and investment; and to compute the savings retention ratio with...

The purpose of this article is to examine the convergence hypothesis in South Africa’s tourism markets over the period January 2000–December 2011. To check the existence of convergence, the study follows existing papers by applying a unit root test on the difference series and a...

The study largely attempts to examine the spillover from Foreign Direct Investment (FDI) in Indian manufacturing by using the firm-level data for the period 2000-2009. With the use of Cobb-Douglas-type production function, it is observed that for the entire manufacturing sector, the impact of...

This paper investigates the causal relationship between economic growth, urbanisation and electricity consumption in the case of Angola, utilizing the data over the period of 1971- 2009. We have applied Lee and Strazicich (2003, 2004) unit root test to test the stationarity properties of the...

This study deals with the question whether financial development reduces CO2 emissions or not in case of Malaysia. For this purpose, we apply the bounds testing approach to cointegration for long run relations between the variables. The study uses annual time series data over the period...

The objective of this paper is to reinvestigate the relationship between natural gas consumption and economic growth by including foreign direct investment, capital and trade openness in Malaysia for the period of 1971–2012. The structural break unit root test is employed to investigate the...

This paper empirically analyzes spillover effects from foreign direct investment using the firm level panel data of Indian manufacturing during 2000-01 and 2009-10. It first estimates the productivity and efficiency of the domestic and foreign firms separately before examining the spillover...

With special emphasis on the influence of stock market development, this paper examines the impact of financial development on economic growth in selected African countries over the period from 1990 to 2009. Using the GMM approach, results suggest that African stock market, in terms of...

This paper examines whether convergence of real income exists among the Association of South East Asian Nations (ASEAN) and South Asian Association for Regional Cooperation (SAARC) countries for the period covering 1970-2009. Univariate Lagrange Multiplier (LM) unit root tests with structural...