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In this paper, we have estimated vector autoregression (VAR), Bayesian vector autoregression (BVAR) and vector error-correction models (VECMs) using annual time-series data of South Korea for 1950-94. We find evidence supporting the view that growth of real per-capita income has been aided by...
Persistent link: https://www.econbiz.de/10005492058
This paper extends cointegration methodology to include the effect of possible structural changes on aggregate consumption behaviour in India during 1919-86. The only cointegrated relation is found to be a dynamic linear regression of lag order two, with 1944 as the year in which structural...
Persistent link: https://www.econbiz.de/10005492147
This paper tests the hypothesis of difference stationarity of macro-economic time series against the alternative of trend stationarity, with and without allowing for possible structural breaks. The methodologies used are that of Dickey and Fuller familiarized by Nelson and Plosser, and that of...
Persistent link: https://www.econbiz.de/10005639689
In this paper, we apply co-integration and error correction modelling to the annual data on government deficit, interest rate, current account deficit of balance of payments, exchange rate, consumption expenditure, and government debt in Germany and the U.K. for 1950-2002. There is evidence that...
Persistent link: https://www.econbiz.de/10008538854
This study is concerned with Foreign Direct Investment (FDI) and economic growth across the world for the period 1991–2001. This article produces fresh empirical evidence on the relation between FDI and economic growth obtained from single-equation and simultaneous-equation estimates for...
Persistent link: https://www.econbiz.de/10008538957
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Purpose: There are two opposite views about whether the Antitrust Law is conducive to the development of the economy. One view is that the Antitrust Law can restrain monopoly, maintain market competition and benefit economic growth. The other view is that the Antitrust Law inhibits innovation...
Persistent link: https://www.econbiz.de/10012812861