The saving–investment relationship revisited: New evidence from multivariate heterogeneous panel cointegration analyses

2006 ◽  
Vol 34 (2) ◽  
pp. 402-419 ◽  
Author(s):  
Avik Chakrabarti
Keyword(s):  
Panel Cointegration ◽  
Heterogeneous Panel ◽  
New Evidence

GLOBALIZATION AND INFLATION: NEW PANEL EVIDENCE

2015 ◽  
Vol 20 (1) ◽  
pp. 1-26 ◽  
Author(s):  
Dong-Hyeon Kim ◽  
Shu-Chin Lin ◽  
Yi-Chen Wu
Keyword(s):  
Cross Section ◽  
Political Institutions ◽  
Empirical Work ◽  
Panel Cointegration ◽  
Developed Countries ◽  
Data Sets ◽  
Legal Traditions ◽  
Heterogeneous Panel ◽  
Positive Effect

Recent empirical work on globalization and inflation analyzes multicountry data sets in panel and/or cross-section frameworks and reaches inconclusive results. This paper highlights their shortcomings and reexamines the issue utilizing heterogeneous panel cointegration techniques that allow for cross-section heterogeneity and dependence. It finds that in a sample of developing countries globalization of both trade and finance, on the average, exerts a significant and positive effect on inflation, whereas in a sample of developed countries there is, on the average, no significant impact of openness. Neither type of openness disciplines inflationary policy. Despite this, there are large variations in the effect across countries, due possibly to differences in the quality of political institutions, central bank independence, the exchange-rate regimes, financial development, and/or legal traditions.

scholarly journals Does Renewable Energy Matter for Economic Growth in Central and Eastern European Countries? Empirical Evidence from Heterogeneous Panel Cointegration Analysis

2021 ◽  
Vol 31 (1) ◽  
pp. 34-59
Author(s):  
Olimpia Neagu ◽  
Cristian Haiduc ◽  
Andrei Anghelina
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Empirical Evidence ◽  
Panel Cointegration ◽  
Cointegration Analysis ◽  
Eastern European ◽  
Renewable Energy Consumption ◽  
Eastern European Countries ◽  
Heterogeneous Panel

AbstractThe aim of the paper is to provide empirical evidence in support of the relationship between renewable energy consumption and economic growth in eleven Central and Eastern European (CEE) countries over the period 1995-2015 within a multivariate panel data analysis. Based on World Bank data, the panel cointegration analysis reveals that renewable energy consumption and economic growth are positively associated in the long run in CEE countries. The heterogeneous panel causality test indicates a bi-directional causality relationship in support of the feedback hypothesis between economic growth and renewable energy consumption in Central and Eastern European countries.

scholarly journals Trade Balance and Exchange Rate in Thailand & the Implications for Vietnam: An Application using Instrumental Variable and the Heterogeneous Panel Cointegration Methods

2016 ◽  
Vol 23 (01) ◽  
pp. 137-160
Author(s):  
Anh Vo The ◽  
Duc Vo Hong
Keyword(s):  
Exchange Rate ◽  
Trade Balance ◽  
Panel Cointegration ◽  
Least Square ◽  
Monetary Policies ◽  
Ordinary Least Square ◽  
Long Run ◽  
Trading Partners ◽  
The Exchange Rate ◽  
Heterogeneous Panel

This study aims to investigate the link of trade balance and exchange rate for the case of Thailand in different aspects by initially attempting to examine what factors determine the trade balance in Thailand and then to test the long-run relationship between the exchange rate and Thailand’s trade balance. The empirical findings indicate that the exchange rate and relative growth rate of income play central roles in explaining Thailand’s trade balance, and fiscal and monetary policies are beneficial in some cases. Additionally, panel fully modified ordinary least square (FMOLS) estimations illustrate that a devaluation of Thailand Baht offers a significantly positive improvement on its trade balance in the long run, especially for the groups of countries with upper middle and high income in America and Europe. Individual FMOLS regressions of Thailand’s trade balance and each of its 62 trading partners suggest that a devaluation of Thailand’s currency would stimulate Thailand’s trade performance with over 20 trading partners, but hurt its performance with the other 10 countries and be inconclusive to the others.

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