The results also indicate bidirectional causality between GPOP and lnIO in the short and long run.
The FBH reveals the bidirectional causality between economic growth and innovation activities (see, for instance, Pradhan et al. (2016), Guloglu and Tekin (2012), Cetin (2013), Howells (2005)).
Additionally, for countries like Austria, Poland, Spain, and Sweden, and the European panel, we find the bidirectional causality between innovation and per capita economic growth (PAR <=> GDP).
SLH indicates the unidirectional causality from innovation to economic growth, DFH indicates the unidirectional causality from economic growth to innovation, FBH indicates the bidirectional causality between innovation and economic growth, and NEH indicates no causal flow between innovation and economic growth.
In other words, we look forward to recognize the feasibility of feedback relationship (i.e., the bidirectional causality) between insurance market density and economic growth.
Moreover, there is bidirectional causality between lnAO and lnIO in the short and long run.
The bidirectional causality between fossil fuel energy consumption and CO2 emission showed that there is a strong link between both indicators and their effect on each other.
It is clear from Additional file 4: Table S4 that there is bidirectional causality between lnGFCFI and lnIO in the short and long run.
The results of the panel vector error correction model finds bidirectional causality between nuclear energy consumption and economic growth in the short-run while unidirectional causality from nuclear energy consumption to economic growth in the long-run.
