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The primary purpose of this paper is to reexamine empirically the sustainability of fiscal policy in Turkey and to identify whether it is strong or weak for the 1975–2012 period. In the paper, we followed the model of Hakkio and Rush (1991) along with its developed version by Quintos (1995)....
This paper examines the causal relationship between oil consumption and economic growth in the BRICS countries for the period from 1985 to 2011. We employ a panel causality approach which accounts for both cross–sectional dependency and heterogeneity across countries. The empirical results...
Imbalances are opposite to sustainability. Following this postulate, this article is aimed at analysing an impact of sectoral imbalances on economic growth in case of EU economies. The basic theoretical background for this empirical analysis is the study provided by Novak (2007, 2008, 2009) on...
This paper investigates the dynamic causal relationship between bank–based financial development, stock market development, and economic growth in Kenya - during the period from 1980 to 2012. In order to address the problem of omitted variable bias, the study includes savings and investment as...
The paper contributes towards improving the understanding over the potential of bioeconomy by focusing on a regional context. The study is realised by applying a combination of PESTEL analysis, resource analysis and analysing true and potential cases with high bioeconomy relevance and potential...
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