This paper analyzes the dynamic relationship between FDI inflows and domestic investment for a panel of selected countries by means of panel cointegration and causality techniques. Specifically, the paper provides empirical evidence regarding the existence of possible crowding in or crowding out effects between FDI inflows and domestic investment, accounting for the location and the level of development of the host countries. Copyright International Atlantic Economic Society 2006C33, C51, F21), FDI inflows, domestic investment, panel cointegration,

The objective of this paper is to investigate the sustainability of the current account deficit in Greece over the 1960-1994 period. The empirical analysis makes use of various unit root and cointegration tests which allow for structural breaks. The results provide evidence in favour of the sustainability of the current account deficit and against a required (and unnecessary) devaluation of the drachma.

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The aim of this paper is to analyze the issue of income convergence for Portugal, Italy, Ireland, Greece, and Spain (PIIGS), towards France. The empirical analysis uses per capita GDP, in PPP and 2005 constant prices and covers the period from 1950 up to the recent pre-crisis year of 2009. The methodology applied uses nonstationary panel unit root tests both without as well as with structural breaks endogenously determined.