This thesis is composed of four essays which contribute to the literature in panel cointegration methodology. The first … essay compares the finite sample properties of the four residual-based panel cointegration tests of Pedroni (1995, 1999) and … the likelihood-based panel cointegration test of Larsson et al. (2001). The simulation results indicate that the panel …

for testing the null hypothesis of no cointegration against alternatives which are fractionally cointegrated. Fractional … cointegration would imply that, although there exists a long-run relationship, the equilibrium errors exhibit slow reversion to zero …. It is found that the null hypothesis of no cointegration cannot be rejected for Japan. By contrast, there is some …

economies of Asia. Based on cointegration and vector error correction modeling the empirical results show that there exists …

capital, foreign direct investment (FDI) and information and communication technology (ICT). The Johansen (1988) cointegration …