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application of Johansen Cointegration and Toda & Yamamoto (1995) Causality approach in Vector Autoregressive (VAR) framework. It …
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Objective: The purpose of this article is to investigate the direct effects of student enrolment on industrial production and GDP while controlling other growth determinants such as physical capital investments and employment. Research Design & Methods: Educational effects on output, i.e....
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When estimating process on financial time series, the usual method is to postulate the equations for the process and to estimate the parameter values for each time series. The implicit assumption is that the equations are universal (i.e. identical for all assets), while the parameters are...
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education and economic growth during the 1996-2014 period in the case of developed and developing countries. The cointegration … relationship between series was examined by using panel cointegration test developed by Pedroni (1999, 2004) and Kao (1999). As a … result of the empirical analysis, cointegration relationship between the series was determined. The results provide also …
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