Topic
Cointegration
About: Cointegration is a research topic. Over the lifetime, 17130 publications have been published within this topic receiving 506215 citations.
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TL;DR: In this article, a survey is given of some results obtained for the cointegrated VAR and the notions of cointegration and common trends are defined, and a statistical model for co-integrated I (1) variables is defined.
125 citations
TL;DR: In this paper, the authors investigated the short run and long run causality analysis between biomass energy consumption and economic growth in selected 10 developing and emerging countries by using the Autoregressive Distributed Lag bounds testing (ARDL) approach of cointegration and error correction models.
Abstract: This paper investigates the short-run and long-run causality analysis between biomass energy consumption and economic growth in the selected 10 developing and emerging countries by using the Autoregressive Distributed Lag bounds testing (ARDL) approach of cointegration and error correction models. It covers annual data from 1980 to 2009. The cointegration test results show that there is cointegration between the biomass energy consumption and the economic growth in nine of the ten countries (Argentina, Bolivia, Cuba, Costa Rica, El Salvador, Jamaica, Nicaragua, Panama, Paraguay, Peru). The cointegration test results show that there is no cointegration between the biomass energy consumption and the economic growth in one of the ten countries (Paraguay).
125 citations
TL;DR: In this article, the authors investigated the long-run relationship between financial development and economic growth using panel unit root and panel cointegration analysis in 16 selected low-income countries.
Abstract: This paper aims to investigate the long-run relationship between financial development and economic growth using panel unit root and panel cointegration analysis in 16 selected low-income countries...
125 citations
TL;DR: In this article, the authors investigated the linkages between financial development and economic growth in the Middle East using newly developed methods of panel cointegration along with the popular time series methodologies such as the Johansen's Cointegration, Granger causality, and the variance decompositions.
Abstract: This paper investigates the linkages between financial development and economic growth in the Middle East using newly developed methods of panel cointegration along with the popular time series methodologies such as the Johansen's cointegration, Granger causality, and the variance decompositions. The results indicate that, in the long run financial development and economic growth may be related to some level. In the short run, the panel causality tests point to real economic growth as the force that drives changes in financial development while individual countries’ causality tests fail to give a clear evidence of the direction of causations.
125 citations
TL;DR: In this article, the authors used the Johansen-Juselius cointegration analysis and exclusion test to demonstrate that in a country where there is a black market for foreign currencies, it is the black market exchange rate and not the official rate that should enter into the formulation of the demand for money.
125 citations