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Natural Resources, Investment and Long-Term Income

Papyrakis, Dlisraios; Gerlagh, Reyer - 2004

We study the negative correlation between natural resource-abundance and long-term income focusing on the savings-investment … the issue. In this model, savings adjust downwards to income from natural resources, and investment in capital contributes … income through savings and investment. Natural resources have two counteracting effects on income. In the short term …

Persistent link: https://www.econbiz.de/10011324959

Adam Smith's answer to the Feldstein-Horioka paradox: The invisible hand revisited

Yasutomi, Ayumu; Horioka, Charles Yuji - 2010

In this paper, we show that Adam Smith pointed out the existence of the Feldstein-Horioka Paradox or Puzzle and even gave an explanation for it more than 200 years before the publication of Feldstein and Horioka (1980). Smith argues that it is the pursuit of their own security that leads owners...

Persistent link: https://www.econbiz.de/10010332269

Does financial liberalization influence saving, investment and economic growth? Evidence from 25 emerging market economies, 1973 - 96

Hermes, Niels; Lensink, Robert - 2005

This paper aims to investigate the relationship between financial liberalization on the one hand and saving, investment … investment (although there are some signs to believe that liberalization may actually reduce rather than increase domestic saving …), whereas it is positively associated with private investment, as well as with per capita GDP growth. We find a negative …

Persistent link: https://www.econbiz.de/10010284781

Toward a theory of evaluating predictive accuracy

Kunst, Robert M.; Jumah, Adusei - 2004

using an empirical example of UK investment data. …

Persistent link: https://www.econbiz.de/10010293709

Monetary policy, inflation and economic growth in Pakistan: Exploring the co-integration and causality relationships

Chaudhry, Imran Sharif; Qamber, Yasmeen; Farooq, Fatima - In: Pakistan Journal of Commerce and Social Sciences (PJCSS) 6 (2012) 2, pp. 332-347

This paper investigates the long run and short run relationships of monetary policy, inflation and economic growth in Pakistan using co-integration and causality analysis during the period 0f 1972-2010. A large number of empirical studies on the relationships of monetary policy and inflation are...

Persistent link: https://www.econbiz.de/10011938320

On the Causality Between Saving and Growth: Long- and Short-Run Dynamics and Country Heterogeneity

Andersson, Björn - 1999

The temporal interdependence between saving and output has been in focus in a number of recent empirical studies. Results from these studies have compelled some authors to question the traditional notion of a causal chain where saving leads growth through capital accumulation. This paper...

Persistent link: https://www.econbiz.de/10010321740

Learning Causal Relations in Multivariate Time Series Data

Chen, Pu; Chihying, Hsiao - In: Economics: The Open-Access, Open-Assessment E-Journal 1 (2007) 2007-11, pp. 1-43

Applying a probabilistic causal approach, we define a class of time series causal models (TSCM) based on stationary Bayesian networks. A TSCM can be seen as a structural VAR identified by the causal relations among the variables. We classify TSCMs into observationally equivalent classes by...

Persistent link: https://www.econbiz.de/10010295294

Kointegration von Aktienkursen

Krämer, Walter - 1997

Persistent link: https://www.econbiz.de/10010316605

Testing the Granger noncausality hypothesis in stationary nonlinear models of unknown functional form

Péguin-Feissolle, Anne; Strikholm, Birgit - 2007

In this paper we propose a general method for testing the Granger noncausality hypothesis in stationary nonlinear models of unknown functional form. These tests are based on a Taylor expansion of the nonlinear model around a given point in a sample space. We study the performance of our tests by...

Persistent link: https://www.econbiz.de/10010281171

FDI and growth: a causal relationship

Chowdhury, Abdur; Mavrotas, George - 2005

The paper examines the causal relationship between FDI and economic growth by using an innovative econometric methodology to study the direction of causality between the two variables. We apply our methodology, based on the Toda-Yamamoto test for causality, to time-series data covering the...

Persistent link: https://www.econbiz.de/10010284707

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