a b s t r a c tThis article investigates the causal relationship between two types of energy variables and economic growth using dynamic simultaneous-equation panel data models for 17 developed and developing countries. Our results indicate that there is a unidirectional causality running from nuclear consumption to economic growth in Belgium and Spain, while a unidirectional causality running from economic growth to nuclear consumption is supported in Bulgaria, Canada, Netherlands, and Sweden. A bidirectional relationship appears in Argentina, Brazil, France, Pakistan, and the USA, while no causality exists in Finland, Hungary, India, Japan, Switzerland, and the U.K. Second, the results for the second nexus among renewable energy and economic growth show that there is a unidirectional causality running from renewable consumption to economic growth in
This paper tries to examine the interrelationship between FDI inflows and the economic growth for three African economies, namely, Tunisia, Morocco, and Egypt during 1985-2011. Our analysis, which is based on a simultaneous equations model, reveals that in overall terms a mutually promoting two-way linkage between FDI and economic growth exists in these countries. Using the generalized method of moments (GMM), we find that the two-way linkage between FDI inflows and economic growth has been verified in all three economies , i.e., high level of foreign direct investment inflows had accelerated economic growth and high economic growth in these economies does send positive signals to prospective foreign investors.JEL classification: G20 ; H54 ; C36.
This paper adopts the methodology of error correction models on the BEER (Behavioral Equilibrium Exchange Rate) approach to express the Tunisian real effective exchange rate based on-trade openness, the money supply in terms of GDP, and GDP per capita on the period (1975–2017). Indeed, the error correction mechanism confirms one of the convergences of the REER series of its trajectory to its long-term target value and on the other hand, it reflects the success of the monetary and commercial policies exploited to absorb all unpredictable shocks capable of preventing the stability of ERER from its equilibrium value. The empirical results also show the low sensitivity of the REER to monetary and trade shocks.
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