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This paper examines the long-run relationship between carbon dioxide (CO2) emission and economic growth, financial development, trade, energy consumption, and foreign direct investment in the case of Lithuania by employing time series data of 1989-2018. In particular, this paper aims to test whether the Environmental Kuznets Curve (EKC) relationship for economic growth and financial development holds or not. The autoregressive distributed lag (ARDL) bounds testing procedure is employed for the empirical analysis. The results validate the existence of EKC in the long-run as well as in the short-run since there is an inverted U-shaped relation between CO2 emissions and economic growth. Conversely, we could not validate the EKC relationship between CO2 emissions and financial development. Trade and energy consumption are other significant determinants of CO2 emissions. The causality analysis results show that unidirectional causality runs from economic growth to CO2 emissions and trade to CO2 emissions. The validity of the EKC hypothesis indicates that Lithuania can achieve short-term, medium-term, and long-term climate change mitigation and adoption goals and objectives approved by the Parliament of the Republic of Lithuania without deteriorating its economic growth.

By employing the GMM and SVAR models in this paper, the effects that bond prices, equity prices, gold prices, and domestic credit have on housing prices were analyzed, using data from 2002q4 to 2015q1 for the ASEAN + 2 countries. The GMM results indicated the significant effects of equity prices and gold prices on housing prices and insignificant effects of bond prices and demotic credit on housing prices in selected Asian countries. Furthermore, findings show that worldwide economic crisis has negative impacts on housing prices in Asian countries. Moreover, Impulse response results indicated that housing prices respond simultaneously and positively to equity prices in all countries except Malaysia and Singapore. Likewise, Variance deposition findings demonstrate the importance of gold prices in fluctuation of housing prices in Malaysia and China especially in the long term.

This study aims to examine the interdependence of stock and house prices. For this purpose, we use quarterly data from 2008-Q1 to 2013-Q4. Seven economies are selected for this empirical investigation: Indonesia, Malaysia, Philippines, Singapore, Thailand [ASEAN-5], Korea and Hong Kong. We apply Pedroni panel cointegration and dynamic ordinary least square (DOLS) to analyse the association between Asian house and stock prices. Applying time series and panel estimation simultaneously, our results suggest a positive and significant effect of stock prices on house prices except for Korea, where we found a negative relationship. More directly, stock markets are integrated with real estate markets in all selected economies except Korea. Further, the positive effects of house prices on stock prices are in support of the wealth effect hypothesis, which indicates that house prices have a positive contribution to the uplift of stock prices. Examining the timing of market changes, we found the real estate market leads the stock market in the panel analysis. Electronic finance, multiple listing databases and internet play a significant role in this interaction.

Article history: Received October 1, 2011 Received in Revised form November, 14, 2011 Accepted 15 February 2012 Available online 5 March 2012 The dependence of various stock markets plays a vital role in diversification while selecting securities in an investor’s portfolio. This study examines interdependence among the East Asian stock markets in relation to the Karachi Stock Exchange. Monthly data ranging from 2000 to 2010 is included and tested in this paper. This relationship is tested by using descriptive statistics and correlation matrix. Data stationarity is ensured by Unit Root Test. Evidence from Granger Causality and Impulse Response Test prove no relationship between KSE and stock markets of the East Asian countries while there exists certain level of unidirectional relationship from Japan to China and from Japan to Pakistan. © 2012 Growing Science Ltd. All rights reserved.

The purpose of this research is to examine the relationship between market structure and performance in thebanking sector using data from Pakistani commercial banks. Investigating the effect of changes in the marketstructure on profitability is based on the structure-conduct-performance (SCP) and efficient-structure (E-S)hypotheses. We have taken a sample of 20 scheduled commercial banks incorporated in Pakistan to examine theabove hypotheses, using the annual and pooled data for a period of 9 years from year 1996-2004. Threemeasures of bank’s performance are utilized: return on assets (ROA), return on capital (ROC) and return onequity (ROE). We have used concentration ratio (CR) to measure structure-conduct-performance (SCP)hypothesis and market share to measure efficient-structure (E-S) hypothesis. We have also used control variablesto capture market specific characteristics such as bank size, market size, risk to owners, liquidity measure,market risk, and market growth. Using regression analysis, we have found a positive relationship ofconcentration ratio (CR) with profitability. In light of these results, we conclude that there is a positiverelationship between profitability and concentration.The results of market share (MS) which is used for efficient structure (E-S) hypothesis explain a negativerelationship with profitability. The results of our analysis do not support the efficient structure (E-S) hypothesis.The empirical findings suggest that market concentration determines the profitability in Pakistani commercialbanks. Hence, we also conclude that there is a negative relationship between competition and profitability in thePakistani commercial banks. The leading banks are still enjoying the state of monopoly. But, the market trendshows that this state will not continue for a longer period as private commercial banks have started to competewith the existing top commercial banks.