1,721,013 research outputs found
Are imports and exports in the OCI member countries cointegrated? A reexamination
No full textApplying the recently developed unit root tests with unknown level shift (Lanne, Lutkepohl and Saikkonen, 2002Saikkonen and Lutkepohl, 2002) and the cointegration test with structural break (Gregory and Hansen, 1996), this study reinvestigates the cointegration relationship between imports and exports for the Organization of the Islamic Conference (OIC) member countries as in Tang and Mohammad (2005). It is found that restrictions are not applicable for testing cointegration between imports and exports for OIC member countries. Interestingly, this study shows cointegration between exports and imports for 9 of the 27 selected OIC member countries (Bangladesh, Cameroon,Chad, Guyana, Indonesia, Mali, Morocco, Niger and Senegal) compared to
only 4 countries as demonstrated by Tang and Mohammad (2005). Consequently, relevant policy implications are also discussed in this study
Carbon dioxide emissions, energy consumption, and economic growth in a transition economy: empirical evidence from Cambodia
No full textThis study examines the inter-relationship among carbon dioxide (CO2)
emissions, energy consumption, and economic growth for a Mekong River
Commission (MRC) country - Cambodia. The empirical results suggest that real
gross domestic product (GDP), energy consumption, and CO2 emissions are
cointegrated. It needs 11 years to achieve a long-run equilibrium. There is a
unidirectional causality from real GDP to energy consumption, and a
bidirectional causality between real GDP, and CO2 emissions. The CO2 emissions
are related to energy consumption through real GDP. This study is relevant and
importance for Cambodia in formulating energy policies, for example, the
revision of national energy efficiency policy
Balance-of-payments-constrained growth model: Empirical evidence from Malaysia
Full text linkApplying cointegration approach, the present study aims to examine the validity of the Harrod Thirlwall balance-of-payments-constrained growth model in Malaysia. The results show that real income and real exports are not cointegrated during the period 1960-2000. This reveals that the Harrod- Thirlwall balance-of-payments-constrained growth hypothesis has not been supported in Malaysia
The influences of economic openness on Japan's balancing item: an empirical note
No full textExploring the factors influencing the balancing item of balance of payments accounts has seldom been a subject of research in international economics. Following Brooks and Fausten (1998), and using Japan's data, this study has empirically examined the influences of economic openness on balancing item. The results of subset VAR (Vector Autoregression) approach, Granger causality test, impulse responses function, and variance decomposition have showed that, to a certain extent, economic openness does influence the behaviour of Japan's balancing item.
Wagner’s Law versus Keynesian Hypothesis in Malaysia: An Impressionistic View
Full text linkThis article refreshes the inter-relationships between government spending and economic growth in Malaysia. The contribution of this article provides a better understanding of the application of Keynesian and Wagnerian hypotheses in the following aspects – (1) literature review; (2) conceptual review on government expenditure-economic growth nexus; and (3) empirical results.Government expenditure; Economic growth
Determinants of Malaysian Trade Balance: An ARDL Bound Testing Approach - A Commentary
No full textThis commentary is served as an additional light both from theoretical and empirical perspectives, on the study by Duasa (Global Economic Review, 2007, 36, pp. 89-102) who examined the short- and long-run relationships between trade balance, real exchange rates, income, and money supply for Malaysia. The final words I would like to make are that the results documented by Duasa require further investigation before it can be generalized.Trade balance, open macro economy equilibrium, Malaysia,
Cointegration analysis for Japanese import demand: revisited
No full textUsing Xu's (2002) import demand equation, the present study re-investigates the presence of a cointegrating relation of Japan's aggregate import demand. The sample period covers quarterly data from 1973 to 2000. The results of various cointegration techniques confirm that the volume of import, domestic real activity variable, and relative prices term are not cointegrated.
Sustainability of balancing item of balance of payments accounts: fresh empirical evidence for G7 countries
No full textUsing a simple balance of payments accounts framework and unit root tests (with level shift), this study provides empirical evidence that, balancing items of balance of payments accounts in the G7 countries are sustainable. The findings of this article may have relevant implications.
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