scholarly journals International Logistics and Cross-Border E-Commerce Trade: Who Matters Whom?

2021 ◽  
Vol 13 (4) ◽  
pp. 1745
Author(s):  
Yugang He ◽  
Renhong Wu ◽  
Yong-Jae Choi
Keyword(s):  
Panel Cointegration ◽  
The Sustainable Development ◽  
Vector Error Correction ◽  
Cross Border ◽  
Vector Error ◽  
Long Run ◽  
Cointegration Tests ◽  
Causality Tests ◽  
Short Run

Unlike previous papers on international logistics and cross-border e-commerce trade, this paper sets Organization for Economic Co-operation and Development (OECD) countries as an example to explore the dynamic interaction between international logistics and cross-border e-commerce trade. The panel data for the period 2000–2018 will be employed to perform an empirical analysis via a host of econometric techniques, such as panel unit root tests, panel cointegration tests, panel causality tests and the panel vector error correction model. Incorporating with other control variables, we find that there is a long-term relationship between international logistics and cross-border e-commerce trade. Specifically speaking, in the long-run, international logistics has a positive and significant effect on cross-border e-commerce trade. However, in the short-run, international logistics has a negative and significant effect on cross-border e-commerce trade. Furthermore, the results suggest that deviation from a cointegration system of cross-border e-commerce trade and international logistics will lead to the cross-border e-commerce trade and international logistics changing within the range of approximately 2.2% to 47.2% in the next period. Therefore, referring to these findings, each OECD country’s government should take up corresponding policies to ensure the sustainable development of both international logistics and cross-border e-commerce trade.

scholarly journals PENGARUH STRUKTUR KEPEMILIKAN DAN STRUKTUR MODAL TERHADAP HARGA SAHAM

2018 ◽  
Vol 14 (2) ◽  
pp. 89
Author(s):  
Rani Raharjanti ◽  
Nur Setyowati
Keyword(s):  
Stock Price ◽  
Panel Cointegration ◽  
Managerial Ownership ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Cointegration Tests ◽  
Short Run ◽  
Equity Ratio

This paper aims to investigate the short and long run behavior of ownership structure, capital structure and Indonesian Stock Price over the period from 2007 to 2016. To capture the long run relationships, we used the panel cointegration by Pedroni (1999, 2000, 2004), while the short run relationship are measured by Vector Error Correction Model (VECM). The main findings are as follows. First, the result of most results of Pedroni’s panel cointegration tests, suggest the null hypothesis of no cointegration is rejected. In consequence, this result suggests that there is a cointegration between stock price, managerial ownership, institutional ownership, public ownership, debt to equity ratio and earnings per share. Second, the results of VECM indicate that in the short run, only managerial ownership that will influence the stock price.

scholarly journals PENGARUH STRUKTUR KEPEMILIKAN DAN STRUKTUR MODAL TERHADAP HARGA SAHAM

2018 ◽  
Vol 14 (2) ◽  
pp. 89
Author(s):  
Rani Raharjanti ◽  
Nur Setyowati
Keyword(s):  
Stock Price ◽  
Panel Cointegration ◽  
Managerial Ownership ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Cointegration Tests ◽  
Short Run ◽  
Equity Ratio

This paper aims to investigate the short and long run behavior of ownership structure, capital structure and Indonesian Stock Price over the period from 2007 to 2016. To capture the long run relationships, we used the panel cointegration by Pedroni (1999, 2000, 2004), while the short run relationship are measured by Vector Error Correction Model (VECM). The main findings are as follows. First, the result of most results of Pedroni’s panel cointegration tests, suggest the null hypothesis of no cointegration is rejected. In consequence, this result suggests that there is a cointegration between stock price, managerial ownership, institutional ownership, public ownership, debt to equity ratio and earnings per share. Second, the results of VECM indicate that in the short run, only managerial ownership that will influence the stock price.

scholarly journals Zakat Distribution and Growth in the Federal Territory of Malaysia

2012 ◽  
Vol 4 (8) ◽  
pp. 449-456
Author(s):  
Mohammed B. Yusoff
Keyword(s):  
Economic Growth ◽  
Granger Causality ◽  
Causality Test ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Cointegration Tests ◽  
Causality Tests ◽  
Short Run ◽  
The Impact

This research paper aims to examine the impact of zakat distribution on growth in the Federal Territory Malaysia. Specifically, an econometric study is carried out to examine the ability of zakat expenditure to affect real economic growth in the Federal Territory Malaysia by employing various econometric procedures such as the unit root tests, the cointegration tests, the vector error-correction model (VECM), and the Granger causality tests. The findings of the study suggest that zakat expenditure has a positive relationship with real GDP in the long-run. The Granger causality test indicates that zakat spending causes real economic growth with no feedback. In other words, zakat expenditure could boost GDP in the Federal Territory Malaysia both in the short-run and long-run.

ENERGY CONSUMPTION AND GROWTH: NEW EVIDENCE FROM A NON-LINEAR PANEL AND A SAMPLE OF DEVELOPING COUNTRIES

2015 ◽  
Vol 60 (02) ◽  
pp. 1550018 ◽  
Author(s):  
TOLGA OMAY ◽  
NICHOLAS APERGIS ◽  
HÜLYA ÖZÇELEBI
Keyword(s):  
Developing Countries ◽  
Energy Consumption ◽  
Panel Cointegration ◽  
Smooth Transition ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Cointegration Tests ◽  
Non Linear ◽  
Causality Tests

This paper investigates the relationship between economic growth and energy consumption through non-linear causality tests. Eight developing countries from Europe and Central Asia spanning the period 1993 to 2008 are selected for the purpose of panel empirical analysis. Panel unit root and panel cointegration tests with and without considering cross section dependency (CD) problems are implemented. Next, linear panel cointegration tests are employed and, finally, a two-regime Dynamic Panel Smooth Transition Vector Error Correction (PSTRVEC) model is estimated for testing the presence of non-linear short- and long-run causality. To this end, a new estimator, called the Dynamic Non-linear Pooled Common Correlated Effect Estimator (DNPCCEE) is proposed. The empirical findings indicate that short and long-run causalities are regime-dependent.

scholarly journals Modelling Respon Rasio Keuangan Terhadap Pembiayaan Pada Bank Syariah Di Indonesia

2017 ◽  
Vol 7 (1) ◽  
pp. 1 ◽  
Author(s):  
Heri Sudarsono
Keyword(s):  
Capital Adequacy ◽  
Third Party ◽  
Factors Affecting ◽  
Vector Error Correction ◽  
Financial Report ◽  
Vector Error ◽  
Long Run ◽  
Long Term Effect ◽  
Short Run

<p align="center"><strong> </strong></p><p><em>This research is meant to analyze the factors affecting the amount of financing provided by Islamic banking in Indonesia. The data which is used is taken from the financial report of the Shari’a Bank during the 2011-2015 periods by using montly financial statement This study uses a Vector Error Correction Model (VECM) to see the long-term effect and response to shock that occur in the studied variables. The result shows that in the long run, the percentage of third party funds (DPK), capital adequacy ratio (CAR), financial deposit ratio (FDR), percentage profit and loss sharing (TBH), give a positive and significant effect on the financing, while BOPO  has negative and significant effect.  Return on asset (ROA) and non perfroming finance (NPF) have no significant effect on the financing. In short run, financing and BOPO give a positive and siqnificant effect on teh financing, then DPK, CAR, FDR, TBH have no sinificant effect on the financing. Therfore, shocks that occur in the financing, ROA, CAR, FDR dan NPF positively responded by financing and will be stable in the long term. While the shocks that occur in the percentage of profit and loss sharing, third party funds, and BOPO responded negatively by financing and will be stable in the long term. </em></p>

THE CAUSAL RELATIONSHIP BETWEEN INSURANCE AND ECONOMIC GROWTH IN NIGERIA (1986-2010)

2012 ◽  
Vol 02 (12) ◽  
pp. 49-57
Author(s):  
TAIWO AKINLO
Keyword(s):  
Economic Growth ◽  
Interest Rate ◽  
Causal Relationship ◽  
Causality Test ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Short Run

This study examined the causal relationship between insurance and economic growth in Nigeria over the period 1986-2010. The Vector Error Correction model (VECM) was adopted. The cointegration test shows that GDP, premium, inflation and interest rate are cointegrated when GDP is the edogeneous variable. The granger causality test reveals that there is no causality between economic growth and premium in short run while premum, inflation and interest rate Granger cause GDP in the long run which means there is unidirectional causality running from premium, inflation and interest rate to GDP. This means insurance contributes to economic growth in Nigeria as they provide the necessary long-term fund for investment and absolving risks.

scholarly journals DOES TAXATION HAS IMPACT ON INVESTMENT? AN EMPIRICAL RESPONSE FROM CO-INTEGRATION ANALYSIS

10.26458/1931 ◽  
2019 ◽  
Vol 19 (4) ◽  
pp. 57-74
Author(s):  
Tajudeen A. ADEGBITE
Keyword(s):  
Income Tax ◽  
Value Added ◽  
Secondary Data ◽  
Corporate Income Tax ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Analysis Technique ◽  
Causality Tests ◽  
Short Run

ABSTRACTThis study examined the effect of taxation on investment in Nigeria from 1970 to 2018. Relevant secondary data were obtained from Central Bank of Nigeria (CBN) Statistical Bulletins and Federal Inland Revenue Services Bulletin from 1970 to 2018. Regression analysis technique, Units root test, Johansen co-integration, Vector Error-Correction Model, and Granger causality tests were employed to determine the long run relationship and causality links among the variables. Results showed that PPT and Value added tax had positive significant impact on INV both in the short run and in the long run while Company income tax, and Custom and Excise duties impacted INV negatively. It is concluded that all components of taxes had positive significant impact on investment in Nigeria except corporate income tax. Corporate income tax had negative significant impact on investment both in the short run and in the long run.

EXOGENOUS OR ENDOGENOUS MONEY SUPPLY: EVIDENCE FROM AUSTRALIA

2012 ◽  
Vol 57 (04) ◽  
pp. 1250025 ◽  
Author(s):  
ZATUL E. BADARUDIN ◽  
AHMED M. KHALID ◽  
MOHAMED ARIFF
Keyword(s):  
Money Supply ◽  
Inflation Targeting ◽  
Correction Model ◽  
Vector Error Correction ◽  
Policy Regimes ◽  
Vector Error ◽  
Long Run ◽  
Causality Tests ◽  
Short Run ◽  
Endogenous Money

This paper investigates the nature of money supply in Australia over two separate monetary policy regimes: monetary and inflation targeting. The post-Keynesian theory on endogenous money was tested with the aim of investigating whether endogenous money supply, if it did exist, followed the accomodationist, structuralist or liquidity preference viewpoints. Data used are quarterly series from 1977 to 2007 and we used vector error-correction model for long-run and short-run causality tests. We found that money supply is endogenous in Australia even when the central bank targeted monetary aggregates during the period 1977 to 1993.

Long-Term Equilibrium and Short-Term Dynamics between Metropolitan Housing Markets in China

2014 ◽  
Vol 905 ◽  
pp. 343-347
Author(s):  
Gao Lu Zou ◽  
K.W. Chau
Keyword(s):  
House Prices ◽  
Housing Markets ◽  
Small Sample ◽  
Short Term ◽  
Long Run ◽  
Regional Markets ◽  
Cointegration Tests ◽  
Causality Tests ◽  
Short Run

House prices across cities may form long-term relations. Geographic barriers could lead to lack of short-term dynamics. The paper aims to investigate the long-run equilibrium and/or short-run dynamics betweenmetropolitan house pricesin China. The study introduced two cointegration tests and various small-sample corrections. We conductedthe Toda-Yamamoto Granger causality tests. House prices betweencitiesin most regional markets did notshow long-term relations as well as short-term dynamics. Therefore, geographies andtransport costs between cities could reducethe centrifugal forces of city growth. Metropolitan housing markets are typically local.

scholarly journals Free Trade: Does Myopic Policy Overlook Long-Term Gains?

2017 ◽  
Vol 22 (2) ◽  
pp. 65-88
Author(s):  
Maryiam Haroon
Keyword(s):  
Trade Liberalization ◽  
Vector Error Correction Model ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Short Run ◽  
Myopic Policy ◽  
The Relationship

This article analyzes the correlation between trade liberalization and welfare in Pakistan from 1986 to 2015. Using consumption expenditure as a measure of welfare, we estimate the relationship using a vector error correction model. The empirical results show that trade liberalization does not have an immediate correlation with welfare: it takes some time for liberalization policies to enhance welfare. The findings also suggest that trade liberalization can help reduce poverty, decrease inequality and increase enrollment levels in the long run. But in the short run, trade liberalization has led to higher income inequality.

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