This paper aims to explore the effect of financial innovation on economic growth in 28 transition countries from 2004 to 2021. Financial innovation is categorized based on the structure of the financial system, including commercial banks, non-commercial banks and financial markets. By applying...

This paper empirically investigates the impact of trade and financial liberalization on economic growth in Pakistan using annual observations over the period 1961-2005. The analysis is based on the bound testing approach of cointegration advanced by Pesaran et al (2001). The empirical findings...

This article considers savings, investment and economic growth for India using annual time series data for the period 1950/51 to 2003/04. The analysis uses Perron's innovational outlier model to conduct unit root tests which endogenously determines structural break. The empirical results show...

This paper uses time-series data from nineteen Latin American countries and the U.S. to test for income convergence using two existing definitions of convergence and a new testable definition of β-convergence. Only Dominican Republic and Paraguay were found to pair-wise converge according to...

This paper uses time-series data from nineteen Latin American countries and the U.S. to test for income convergence using two existing definitions of convergence and a new testable definition of ?-convergence. Only Dominican Republic and Paraguay were found to pair-wise converge according to the...

This paper examines the major determinants of GDP growth in Iran using annual time series data spanning from 1960 to 2003. The Iranian economy has been subject to a multitude of structural changes and regime shifts during the sample period. Thus, time series properties of the data are first...

Tourism is one of the growing industries in Sri Lanka in the post war development. Its contribution to the Sri Lankan economy is vital in the same context. The objective of this study is to examine the causal relationship between economic growth and tourism earning in Sri Lanka during 1977-2012....

In addition to quantitative assessment of economic growth using econometric models, business cycle analyses have been proved to be helpful to practitioners in order to assess current economic conditions or to anticipate upcoming fluctuations. In this paper, we focus on the acceleration cycle in...

In the late 90's, after severe financial and economic crisis, accompanied by inflation and exchange rate instability, Eastern Europe emerged into two groups of countries with radically contrasting monetary regimes (Currency Boards and Inflation targeting). The task of our study is to compare...

We evaluate conditional predictive densities for U.S. output growth and inflation using a number of commonly used forecasting models that rely on a large number of macroeconomic predictors. More specifically, we evaluate how well conditional predictive densities based on the commonly used...