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Following the basic hypothesis of the a new approach in the analysis of the economic development, the principal reason for the actual gap in the per capita income between developed and developing countries (former European colonies) is the original wealth concentration. In this paper we tested a...
Persistent link: https://www.econbiz.de/10005176760
distributed lag cointegration bound test shows the findings regarding the cointegration consist of positive long-term equilibrium …
Persistent link: https://www.econbiz.de/10013499178
Growth theory has traditionally assumed the existence of an aggregate production function, whose existence and properties are closely tied to the assumption of optimal resource allocation within each economy. We show extensive evidence, culled from the micro-development literature, demonstrating...
Persistent link: https://www.econbiz.de/10014023780
lifestyle”. We construct a balanced panel for 72 countries between 1980 and 2007 and use panel unit-root and cointegration tests …
Persistent link: https://www.econbiz.de/10011065341
The relationship between income inequality and economic growth is complex. Some inequality is integral to the effective functioning of a market economy and the incentives needed for investment and growth. But inequality can also be destructive to growth, for example by amplifying the risk of...
Persistent link: https://www.econbiz.de/10014363231
The findings from the VECM for BBS data reveal that there is a positive and significant relationship between FD and GDPGR, supporting the Keynesian theory, while findings from the VECM for World Bank data indicate that the impact of Fiscal Deficit (FD) on GDPGR is mild but negative and...
Persistent link: https://www.econbiz.de/10011772348
Nigeria using the framework of single equation error correction mechanism. The unit root and cointegration tests were …
Persistent link: https://www.econbiz.de/10010480256
(ARDL) models. The study also utilised the bounds F-test for cointegration, the Brock-Dechert-Scheinkman (BDS) nonlinearity … cointegration. The BDS test results indicate that the series are nonlinear, while Wald test results revealed an asymmetric …
Persistent link: https://www.econbiz.de/10014372948
Persistent link: https://www.econbiz.de/10010348831
testing approach to co-integration. Results showed that military spending has negative and significant effect on output in the …
Persistent link: https://www.econbiz.de/10010492722