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On the non-convergence of energy intensities: Evidence from a pair-wise econometric approach.
Le Pen, Yannick; Sévi, Benoît - Université Paris-Dauphine - 2010
This paper evaluates the convergence of energy intensities for a group of 97 countries in the period 1971 …–2003. Convergence is tested using a recent method proposed by Pesaran (2007) [Pesaran, M.H., 2007. A pair-wise approach to testing for … output and growth convergence. Journal of Econometrics 138, 312–355] based on the stochastic convergence criterion. An …
Persistent link: https://www.econbiz.de/10009189920
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Oil price and economic growth : a long story?
Gadea, María Dolores; Gómez-Loscos, Ana; Montañés, … - In: Econometrics : open access journal 4 (2016) 4, pp. 1-28
This study investigates changes in the relationship between oil prices and the US economy from a long-term perspective. Although neither of the two series (oil price and GDP growth rates) presents structural breaks in mean, we identify different volatility periods in both of them, separately....
Persistent link: https://www.econbiz.de/10011649469
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Electricity Consumption and Economic Growth: Trivariate investigation in Botswana with Capital Formation
Solarin, Sakiru Adebola - In: International Journal of Energy Economics and Policy 1 (2011) 2, pp. 32-46
This study investigates the relationship between electricity consumption and real gross domestic product in Botswana (the world’s largest producer of diamonds). The study includes capital formation in a trivariate system for the period covering 1980-2008. Zivot and Andrews (1992) unit roots...
Persistent link: https://www.econbiz.de/10009188319
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Does Government Debt Promote Economic Growth? An Empirical Analysis with Structural Breaks for the Economy of China
Stylianou, Tasos - 2013
This paper investigates the relationship between economic growth and government debt for one of the biggest economies in the world, the economy of China. The data were fitted into a regression equation using econometric techniques such as unit root tests and Granger causality. Regarding unit...
Persistent link: https://www.econbiz.de/10013074484
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Structural Breaks in Trade and Income Per Capita in Asean - 5 Countries : An Application of Innovational Outlier Models
Jayanthakumaran, Kankesu - 2008
The founder members of the Association of Southeast Asian Nations (ASEAN-5) - Malaysia, Indonesia, Thailand, the Philippines and Singapore - increasingly adopted outward-oriented policies in trade and investment by enforcing reforms in the mid-1980s. This paper investigates the existence of...
Persistent link: https://www.econbiz.de/10012768353
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Cross-Country Evidence on Output Growth Volatility : Nonstationary Variance and Garch Models
Fang, Wen-Shwo; Miller, Stephen M.; Lee, Chun-Shen - 2009
This paper revisits the issue of conditional volatility in real GDP growth rates for Canada, Japan, the United Kingdom, and the United States. Previous studies find high persistence in the volatility. This paper shows that this finding largely reflects a nonstationary variance. Output growth in...
Persistent link: https://www.econbiz.de/10014051340
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The Great Moderation and the Relationship between Output Growth and its Volatility
Fang, Wen-Shwo; Miller, Stephen M. - 2008
This study examines the effect of the Great Moderation on the relationship between U.S. output growth and its volatility over the period 1947 to 2006. First, we consider the possible effects of structural change in the volatility process. In so doing, we employ GARCH-M and ARCH-M specifications...
Persistent link: https://www.econbiz.de/10014051341
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Going up and down : rethinking the empirics of growth in the developing and newly industrialized world
Lamperti, Francesco; Mattei, Clara Elisabetta - 2016 - This version: January 2016
growth phases. Results show that expansionary regimes are associated with convergence and positive correlation between growth …
Persistent link: https://www.econbiz.de/10011412222
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The Validity of Purchasing Power Parity Hypothesis in Middle East and Northern Africa Countries
Kalyoncu, Hüseyin; Kula, Ferit; Aslan, Alper - In: Journal for Economic Forecasting (2010) 4, pp. 125-131
This paper re-examines the Purchasing Power Parity (PPP) hypothesis in which the endogenously determined break points are incorporated in thirteen major Middle East and Northern Africa (MENA) countries by using official and black market exchange rates data over 1970-1998. We utilize Lagrange...
Persistent link: https://www.econbiz.de/10008784899
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Income convergence in African countries : evidence from a stationary test with multiple structural breaks
Ranjbar, Omid; Lee, Chien-chiang; Chang, Tsangyao; … - In: The South African journal of economics 82 (2014) 3, pp. 371-391
Persistent link: https://www.econbiz.de/10010502194