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 paper, the authors examined the causality relations between financial development, trade openness and economic growth for the Turkish economy and found that while trade openness has a positive effect, financial development has a negative effect on growth.
Abstract: Problem statement: The main objective of this study was to examine the causality relations between financial development, trade openness and economic growth (GDP) for the Turkish economy. Approach: In time series context, recently developed econometric techniques were used: namely the Augmented Dickey-Fuller (ADF) for unit root, Johansen and Juselius (JJ) for cointegration and Granger causality test for causal relationships. Results: The findings of the study showed that while trade openness has a positive effect, financial development has a negative effect on growth. Conclusion: Moreover, the Granger causality test results revealed the presence of bicausal relationship between financial development, trade openness and growth indicating that economic policies aimed at financial development and trade openness have a statistically significant impact on economic growth.
116 citations
TL;DR: In this paper, the authors used time-series data over the 1960-90 period for a sample of 44 countries and with a relatively new method of cointegration known as the ARDL approach.
Abstract: The productivity bias hypothesis states that a relatively more productive country should experience a real appreciation of its currency. Most studies in the literature that have tested the hypothesis have employed cross-sectional data. Only a few studies have used time-series data and they have tested the hypothesis for only a small number of countries. In this paper the authors test the hypothesis by using time-series data over the 1960–90 period for a sample of 44 countries and with a relatively new method of cointegration known as the ARDL approach. For most countries there is strong evidence supporting the hypothesis.
116 citations
TL;DR: In this article, the demands for the different types of energy consumption for the Mexican economy over the period 1965-2001 were modeled as a function of output and the own real price, and the results indicate that in Mexico the demand for energy is fundamentally driven by income and that the effect of the relative prices is basically concentrated on the short run with the exception of the industrial sector which also shows a long-term price impact.
115 citations
TL;DR: In this article, the authors investigated the relationship between natural resource abundance and economic growth for Venezuelan economy and found that natural resources abundance impedes economic growth, while financial development, capital stock and trade openness enhance economic growth.
115 citations
TL;DR: In this article, Granger and Yoon's Crouching error correction model (CECM) identifies asymmetry of the cointegrating vectors between components (cumulative positive and negative changes) of the series and finds evidence of cointegration between positive components of crude oil prices and negative components of gasoline prices.
115 citations