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expansion of tourism. Cointegration techniques and the multivariate Granger causality test are applied. Results reveal that …
Persistent link: https://www.econbiz.de/10010312651
In this paper we present simulations of economic performance of the Polish economy based on a quarterly econometric model. The model consists of 22 stochastic equations, which link the financial market with the real economy. The purpose of the research is to present effects of changes to...
Persistent link: https://www.econbiz.de/10010277058
petroleum products for Nigeria from 1977 to 2008. In contrast to earlier studies on Nigeria and other developing countries, this … conventional residual-based cointegration tests employed fail to identify any meaningful long run relationship in both functions …, the Gregory- Hansen structural break cointegration approach confirms the cointegration relationships despite the …
Persistent link: https://www.econbiz.de/10010289392
Persistent link: https://www.econbiz.de/10010335154
This paper examines the importance of different economic sentiments, e.g. consumer moods, for the Central and Eastern European countries (CEECs) during the transition process. We first analyze the importance of economic confidence with respect to the CEECs' fi nancial markets. Since the...
Persistent link: https://www.econbiz.de/10010269983
This paper examines the importance of different economic sentiments, e.g. consumer moods, for the Central and Eastern European countries (CEECs) during the transition process. We first analyze the importance of economic confidence with respect to the CEEC's financial markets. Since the...
Persistent link: https://www.econbiz.de/10010271117
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
approach and the Johansen maximum likelihood approach to cointegration for the period 1970-2007, we find that foreign aid has a …
Persistent link: https://www.econbiz.de/10010333088
additional variables. The Augmented Dickey Fuller (ADF) and Johansson Cointegration tests are used to test stationarity for all … variables and cointegration respectively. The results of these tests demonstrate that all variables are non-stationary at levels …
Persistent link: https://www.econbiz.de/10011938302
Recent empirical work on financial structure and economic growth analyzes multi-country dataset in panel and/or cross-section frameworks and concludes that financial structure is irrelevant. We highlight their shortcomings and re-examine this issue utilizing a time series and a Dynamic...
Persistent link: https://www.econbiz.de/10010322763