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This study aims to empirically examine the relationship between energy consumption and agricultural economic growth in Pakistan over the period from 1984 to 2016.

This study used the autoregressive distributed lag (ARDL) bounds testing approach to cointegration to investigate the long-run and short-run determinants of agricultural economic growth in Pakistan.

The results of the ARDL bounds testing approach to cointegration revealed that long-run linkage exists among the study variables. The findings of this paper showed that agricultural economic growth is positively affected by gas consumption and electricity consumption both in the long-run and short run. The long-run and short-run coefficients of gas consumption and electricity consumption were estimated to be 0.906, 0.421, 0.595 and 0.276, respectively. The estimated equation remains stable during the period from 1984 to 2016 as analyzed by the stability tests.

This study considers the relationship between energy consumption and agricultural economic growth in Pakistan by using an ARDL bounds testing approach to cointegration. The study has three contributions to economic literature:this study used different unit root tests to test stationarity of the variables such as ADF unit root test by Dicky and Fuller and P-P unit root test by Philip and Perron; the ARDL bounds testing approach to cointegration is applied to test the existence of long-run analysis between energy consumption and agricultural economic growth; and to check the robustness, the authors used the Johansen cointegration test to examine the long-run relationship between dependent and independent variables.

This study aims to explore the short-run and long-run relationships and causality between economic growth and financialization in the new member states (NMS-11) and to provide some policy implications drawn from the empirical findings.

The autoregressive distributed lag (ARDL) bounds test approach to cointegration with the vector error correction model and the cumulative sum of squares (CUSUMQ) test for stability of functions is used between 1995q1 and 2021q4 to examine the existence of cointegration, relationships and causality between economic growth and financialization.

The findings of the ARDL bounds test demonstrate that the variables included in the models are bound together in the long run, as confirmed by the associated equilibrium correction. The estimated models indicate that the association between selected variables and economic growth is stronger and more statistically significant in the short run compared with the long run. Also, for NMS-11 understudied countries, short-run causality prevails over long-run causality. The changes in the level of financialization have a significant negative effect on the growth rates in the short run, which aligns with findings from previous empirical studies.

This study extends the existing very limited literature about short-run and long-run relationships and causality among economic growth and financialization, including inflation and unemployment variables, to determine their link in the NMS-11. Specifically, the present study reveals that the current level of financialization hampers economic growth and promoting such economic policies further can have adverse effects on the overall economic growth.

Embedded technologies are one of the fastest growing sectors in information technology today and they are still open fields with many business opportunities. Hardly any new product reaches the market without embedded systems components any more. However, the main technical challenges include the design and integration, as well as providing the necessary degree of security in an embedded system. This paper aims to focus on a new processor architecture introduced to face security issues.

In the short term, the main idea of this paper focuses on the implementation of a method for the improvement of code security through measurements in hardware that can be transparent to software developers. It was decided to develop a processor core extension that provides an improved capability against software vulnerabilities and improves the security of target systems passively. The architecture directly executes bound checking in hardware without performance loss, whereas checking in software would make any application intolerably slow.

Simulation results demonstrated that the proposed design offers a higher performance and security, when compared with other solutions. For the implementation of the Secure CPU, the SPARC V8‐based LEON 2 processor from Gaisler Research was used. The processor core was adapted and finally synthesised for a GR‐XC3S‐1500 board and extended.

As numerically, most systems run on dedicated hardware and not on high‐performance general purpose processors. There certainly exists a market even for new hardware to be used in real applications. Thus, the experience from the related project work can lead to valuable and marketable results for businesses and academics.

This paper examines the long‐term relationship between saving and investment as a criterion for assessing international capital mobility for the case of Saudi Arabia, the largest economy among the Middle Eastern and Arab nations.

The approach is modeled on Feldstein and Horioka covering the period 1963‐2007 for Saudi Arabia. We use the bounds testing approach and the Gregory and Hansen cointegration methods to test for the long‐run relationship between saving and investment. Additionally, before testing for this relationship, we conduct unit root tests, including the additive outlier model developed by Perron with an endogenously determined structural break.

The study finds no evidence of a long‐run relationship between saving and investment and therefore concludes that capital is highly mobile in Saudi Arabia. This finding is plausible given the economic and financial reforms which have occurred in Saudi Arabia along with increased capital inflows into the country in the last few decades.

Of the limited studies so far on developing countries, none has considered the capital mobility issue for an oil‐dependent country.

The purpose of this paper is to investigate the relationship between trade openness and economic growth in developing countries. Under this aim, the co‐integration relationship between trade openness and economic growth of 17 developing countries is examined without relying on data stationarity.

The co‐integration relationship between trade openness and economic growth is analyzed by Bounds testing approach developed by Pesaran et al. In addition to this, the causality relationship is tested by causality analysis developed by Toda and Yamamoto.

According to the Bounds test results, co‐integration relationship has been detected for six countries and long‐term coefficients among the variables have been found positive and statistically significant. According to the Toda and Yamamoto causality analysis, causality has been detected for eight countries. In four of these, the direction of causality is from trade openness to economic growth and in the other four, vice versa.

The methodology employed provides an alternative framework for examining relationship among economic variables. The paper shows how to create co‐integration and causality tests without relying on data stationarity, which is a major problem in time series of economic variables. On the empirical side, it adds new empirical results into the literature in the name of identification of relationship between trade openness and economic growth in developing countries.

During recent years, the nexus between unemployment and entrepreneurship has been examined in depth in developed and industrialised economies but rarely in developing economies. The purpose of this paper is to investigate such a relation in the case of 30 Iranian provinces from 2005Q2 to 2017Q4. Using both the autoregressive distributed lag (ARDL) bounds testing and vector error correction method (VECM) Granger causality approaches, the findings show that a unidirectional short-run causal relationship from entrepreneurship to unemployment and vice versa was observed in 13 and 10 per cent of provinces, respectively. The authors also find evidence for unidirectional long-run causality in 77 per cent of provinces from unemployment to entrepreneurship, as well as 10 per cent of provinces from entrepreneurship to unemployment. Finally, the results confirm that in long-run, the “prosperity-pull” effects are considerably stronger than the “recession-push” effects in Iranian provinces.

The main target of this paper is to investigate the unemployment-entrepreneurship in the case of 30 Iranian provinces from 2005Q2 to 2017Q4 by using ARDL bounds testing and VECM Granger causality approaches.

The results confirm that in long-run, the “prosperity-pull” effects are considerably stronger than the “recession-push” effects in Iranian provinces. This finding reveals that the unemployment rate can be regarded as a critical instrument for hindering entrepreneurial activity by increasing the risk of business bankruptcy and pulling entrepreneurs out of self-employment. All these results must be taken into account in the construction of useful economic policies for the Iranian labour market.

The economic literature reveals that most empirical studies of the nexus between unemployment and entrepreneurship examined developed and industrialised economies and the analysis of such a relation for developing countries has not been considered by researchers. Thus, to fill this gap, this paper extends the current empirical literature by presenting new empirical evidence for the case of Iran, which has a developing economy.

The purpose of this paper is to examine the extent to which conventional and Islamic bank fixed deposit rates can protect depositors against inflation in the Malaysia context.

Nominal interest rates are represented by commercial bank fixed deposit and investment bank fixed deposit rates. The authors use monthly data over the period 2000–2016. The authors apply the autoregressive distributed lag bounds testing methodology to test the existence of long-run relationship between nominal rates and inflation, and the error-correction model to test for the short-run dynamics.

The results show that the nominal interest rate and inflation are cointegrated for all the data series. The evidence indicates that all the fixed deposit rates, for both conventional and Islamic banks are effective inflation hedges in the long-run thereby supporting the Fisher hypothesis. There is no difference in the inflation hedging ability between conventional bank rates and Islamic bank rates. However, the authors find no evidence of the short-run relationship between interest rates and inflation for either bank.

Bank regulators should be concerned on the similarities in behaviour towards inflation between conventional and Islamic rates, given that the deposit rates for both banks are supposedly set based on different premises. Bank customers, they should deposit their money for the long horizon in order to protect themselves against inflation. Depositors worrying about inflation should be indifferent between conventional or Islamic as both banks provide similar inflation hedging characteristics.

The novelty of this study is in using the bank fixed deposit rates to study the Fisher effect in an emerging market and in comparing the conventional and Islamic bank rates in terms of their inflation hedging ability.

The purpose of this paper is to examine the causal relationship between research publications and economic growth – using time-series data from South Africa. The paper attempts to answer two critical questions: is there a long-run relationship between research publications and economic growth in South Africa? Do research publications from South African researchers Granger-cause economic growth?

Unlike some of the previous studies, the current paper uses a trivariate ECM-based Granger-causality model to examine this linkage. Specifically, the study incorporates education as an intermittent variable between research and economic growth. In addition, the paper uses the recently developed autoregressive distributed lag (ARDL)-bounds testing procedure, which has numerous advantages, especially when the sample size is small.

The results of this study show that there is a long-run relationship between research publications and economic growth in South Africa. The results also show that there is a distinct causal flow from research publications to economic growth in South Africa. This applies both in the short-run and in the long-run. Other results also show that: there is a short-run bidirectional causality between research publications and education; and there is a short-run bi-directional causality between education and economic growth, but a long-run unidirectional causal flow from education to economic growth.

The findings of this paper underscore the crucial role that research plays in economic growth and development. Overall, the findings of this study show that research in South Africa is pro-growth. This implies that the recent significant increase in government expenditure on research and innovation, which is aimed at increasing the country’s scientific research outputs, is likely to pay off.

To the best of the authors’ knowledge, this paper is the first of its kind to examine in detail the dynamic causal relationship between research outputs and economic growth in South Africa – using the recently developed ARDL-bounds testing approach within a trivariate setting.

The purpose of this paper is to test the Feldstein and Horioka (FH), theory that capital mobility should be low if there is high correlation between saving and investment, in some African countries.

This paper tests the cointegration between saving and investment using bounds testing approach to cointegration and derive the long-run elasticities using autoregressive-distributed lag (ARDL) and Phillips-Hansen fully modified OLS for African countries over the period 1960-2008. This paper conducted the test for unit root properties using Augumented Dick-Fuller procedure.

Their main findings are: investment and saving are strongly cointegrated for The Gambia and Burkina Faso and marginally cointegrated for Ghana, Mali, Cote d'Ivoire and Benin when investment is the dependent variable and there is evidence of cointegration between saving and investment when saving is the dependent variable for Senegal and Niger and no evidence of cointegration for Cameroon, Chad and Togo; the long-run coefficients on saving are low or negative implying low correlation. This paper concludes that Feldstein and Horioka theory could not be ruled out in African countries investigated.

This paper is the original paper conducted on West African countries. This study has not across any paper bearing the same title on the countries of coverage.

The purpose of this paper is motivated by research-based assertions that: the causes of economic growth in countries like India are not well understood; they are not elucidated by using simple bivariate relationships between economic growth and other variables, taken one at a time; and dynamic linkages between growth, trade openness and financial sector depth are required for any comprehensive treatment of this inquiry.

This paper investigates the pivotal role of financial depth (defined as the relative importance in the economy of the banking sector or the stock market) and whether it bears any evidential relationship to trade openness and economic growth during the era of Indian post-globalization since 1990. Two key objectives are to uncover whether there is a long-run relationship between the variables and whether they can be said to cause one another. Autoregressive distributive lag (ARDL) bounds testing procedures and vector autoregressive error correction model (VECM) approaches were used to derive the results.

This paper affirms that the variables are indeed formally cointegrated. It was also found that trade openness, economic growth and financial sector depth Granger-cause each other.

This paper demonstrates that greater trade openness can predictably accelerate India’s economic growth. If policymakers wish to maintain sustainable economic growth in India, they can do so by encouraging both freer trade and financial market development in the long run.

No investigation of this type and sophistication has hitherto been performed for India. The methods developed for this study can also be applied to any of the vast range of countries for which dynamic growth-openness-financial depth interactions have not already been investigated.