scholarly journals Tourism and economic growth in Greece: An ARDL bound testing approach in a Kaldorian framework

2020 ◽  
Vol 70 (2) ◽  
pp. 215-227
Author(s):  
Konstantinos Spinthiropoulos ◽  
Christos Nikas ◽  
Eleni Zafeiriou
Keyword(s):  
Economic Growth ◽  
Testing Procedure ◽  
Bounds Testing ◽  
Speed Of Adjustment ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Tourism Sector ◽  
Short Run ◽  
The Relationship

AbstractThe purpose of the study is to examine the relationship between tourism development and economic growth in Greece, using the Autoregressive Distributed Lag (ARDL)-Bounds testing procedure. The present paper attempts to examine the relevance of the tourism led growth hypothesis according to the Kaldorian theory. The analysis was carried out for the period from 1963 to 2016 and involves the short-run as well as the log-run impact. As a proxy for the output of the tourism sector, its receipts are employed, while as an index for economic growth, the GDP is employed. The empirical results show that the economy of Greece can recover and return to the long-run equilibrium with a speed of adjustment 7.17% per year.

scholarly journals The Relationship between Economic Development and Fatal Occupational Accidents: Evidence from Turkey

2017 ◽  
Vol 64 (1) ◽  
pp. 19-31 ◽  
Author(s):  
Olcay Çolak ◽  
Serap Palaz
Keyword(s):  
Economic Development ◽  
Occupational Accidents ◽  
Bounds Testing ◽  
Distributed Lag ◽  
Distributed Lag Model ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
Lag Model ◽  
The Relationship

Abstract Occupational accidents are among the most important issues of the agenda of working life in Turkey recently. Recently the causes and consequences of occupational accidents which are related to human, occupational and environmental factors have received great attention from the researchers but it has been paid little attention to focused on economic factors. The purpose of this paper is to make a contribution to redressing this gap by examining the relationship between fatal occupational accidents and economic development over the period of 1980 to 2012 for Turkey. In this context, bounds testing approach which is also known as autoregressive distributed lag model is performed. The results indicate the existence of positive relationship between gross domestic product per capita and fatal occupational accidents in the short-run while in the long run this turns out to be in a negative way via economic growth and changes in structure of the economy.

Electricity Consumption–Economic Growth Nexus: Evidence from ARDL Bound Testing Approach in the Tunisian Context

2020 ◽  
pp. 097215092092543 ◽  
Author(s):  
Zouheir Mighri ◽  
Hanen Ragoubi
Keyword(s):  
Economic Growth ◽  
Electricity Consumption ◽  
Bounds Testing ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Causality Tests ◽  
Short Run ◽  
Testing Approach ◽  
Causal Nexus

This article investigates the causal nexus between electricity consumption and economic growth in Tunisia for the period 1971–2013 by using autoregressive distributed lag (ARDL) bounds testing approach of cointegration and Granger causality tests. The empirical findings indicate the existence of a long-term relationship between electricity consumption and economic growth. Besides, they support the conservation hypothesis in the long run, while they confirm the growth hypothesis in the short run.

scholarly journals Modelling the Temporal Effect of Terrorism on Tourism in Kenya

2016 ◽  
Vol 8 (12) ◽  
pp. 10 ◽  
Author(s):  
Brian K. Masinde ◽  
Steven Buigut ◽  
Joseph K. Mung'atu
Keyword(s):  
Testing Procedure ◽  
Tourism Industry ◽  
Bounds Testing ◽  
Causality Test ◽  
Vector Error Correction ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
Long Run Equilibrium

<p>Terrorist attacks have escalated over the recent years in Kenya, with adverse effects on the tourism industry. This study aims to establish if a long-run equilibrium exists between terrorism and tourism in Kenya between the years 1994 and 2014. To reinforce the robustness of the results, both Autoregressive Distributed Lag (ARDL) bounds testing and the Vector Error Correction Model (VECM) techniques are used to investigate the problem. A Granger causality test is also carried out to ascertain the direction of the relationship if one exists. The evidence from ARDL and the VECM testing procedure suggest that there is no long-run equilibrium between terrorism and tourism in Kenya. Terrorism does not Granger cause tourism and vice versa. However, short-run effect indicates that terrorism negatively and significantly affects tourism.</p>

scholarly journals The Relationship between Economic Development and Fatal Occupational Accidents: Evidence from Turkey

2017 ◽  
Vol 64 (1) ◽  
pp. 19-31
Author(s):  
Olcay Çolak ◽  
Serap Palaz
Keyword(s):  
Economic Development ◽  
Occupational Accidents ◽  
Bounds Testing ◽  
Distributed Lag ◽  
Distributed Lag Model ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
Lag Model ◽  
The Relationship

Abstract Occupational accidents are among the most important issues of the agenda of working life in Turkey recently. Recently the causes and consequences of occupational accidents which are related to human, occupational and environmental factors have received great attention from the researchers but it has been paid little attention to focused on economic factors. The purpose of this paper is to make a contribution to redressing this gap by examining the relationship between fatal occupational accidents and economic development over the period of 1980 to 2012 for Turkey. In this context, bounds testing approach which is also known as autoregressive distributed lag model is performed. The results indicate the existence of positive relationship between gross domestic product per capita and fatal occupational accidents in the short-run while in the long run this turns out to be in a negative way via economic growth and changes in structure of the economy.

scholarly journals Examining the Relationship between Financial Development and International Trade in Croatia

2017 ◽  
Vol 12 (1) ◽  
pp. 80-88 ◽  
Author(s):  
Vlatka Bilas ◽  
Mile Bosnjak ◽  
Ivan Novak
Keyword(s):  
International Trade ◽  
Financial Development ◽  
Bounds Testing ◽  
Significance Level ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
The Relationship ◽  
Ardl Bounds Testing Approach

AbstractThis paper examines the relationship between financial development and international trade in Croatia over the period from the first quarter of 1997 and the last quarter of 2015. The autoregressive distributed lag (ARDL) bounds testing approach to cointegration is applied to examine the long-run and short-run relationships among the series. The research hypothesis is accepted and the relationship between financial development and international trade in Croatia is established and confirmed. The research results reveal unidirectional Granger causality from financial development to international trade at the 10% significance level, and negative long-run and the positive short-run relationships between financial developments and international trade in Croatia.

scholarly journals The Relationship between Money Supply, Price Level and Economic Growth In Pakistan: Keynesian versus Monetarist View

2018 ◽  
Vol 11 (2) ◽  
pp. 49-64
Author(s):  
Abdul Mansoor ◽  
Quratulain Shoukat ◽  
Shagufta Bibi ◽  
Khushbakht Iqbal ◽  
Romana Saeed ◽  
...  
Keyword(s):  
Economic Growth ◽  
Money Supply ◽  
Price Level ◽  
Economic Policies ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
The Relationship ◽  
Supply Price

AbstractThe objective of the study is to examine the relationship between money supply, price level and economic growth in the context of Pakistan by using Autoregressive Distributed Lag (ARDL) model, covered a period of 1980 to 2016. The results confirm the long-run relationship between the variables while using broad money supply as a response variable. However, in the price and income modeling, the variables do not support the cointegration relationship between the variables. The causality results confirmed the unidirectional relationship running from income to money supply, which implies that income do causes money supply in the short run, whereas money supply leads to inflation to support Monetarist view of inflation in a country. The results conclude that economic growth is imperative to stabilize money supply and price level through sound economic policies in a country.

scholarly journals Trade Liberalisation and Economic Growth in Macedonia

2016 ◽  
Vol 11 (2) ◽  
pp. 48-60 ◽  
Author(s):  
Viktorija Mano-Bakalinov
Keyword(s):  
Economic Growth ◽  
Trade Reforms ◽  
Productivity Function ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
Market Liberalisation ◽  
The Relationship ◽  
Positive Effect

Abstract The objective of this paper is to explore the effects of trade on Macedonian economic growth. The autoregressive distributed lag (ARDL) model is applied on yearly data over the period of 1993-2014. Empirical investigation reveals that an increase of population and openness demonstrate a positive and significant effect on Macedonian economic growth. Given other diverging findings, this suggests that the relationship between trade reforms and growth through the productivity function may vary across transition economies. Nevertheless, the findings of this paper indicate that policies focusing on market liberalisation and opening the economy to trade have a positive effect on Macedonian economic growth, both in the short run and the long run.

scholarly journals Causality Between Public Debt, Public Debt Service and Economic Growth in an Emerging Economy

2020 ◽  
Vol 65 (1) ◽  
pp. 1-19
Author(s):  
Talknice Saungweme ◽  
Nicholas M. Odhiambo
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Public Debt ◽  
Debt Service ◽  
Bounds Testing ◽  
Causality Test ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run

AbstractThis paper explores the causality between public debt, public debt service and economic growth in South Africa covering the period 1970 – 2017. The study employs the autoregressive distributed lag (ARDL) bounds testing approach to cointegration and the multivariate Granger-causality test. The empirical results indicate that there is unidirectional causality from economic growth to public debt, but only in the short run. However, the study fails to establish any causality between public debt service and economic growth, both in the short run and long run. In line with the empirical evidence, the study concludes that it is economic growth that drives public debt in South Africa, and that the causal relationship between public debt and economic growth is sensitive to the timeframe considered. The paper recommends policymakers in South Africa to consider growth-enhancing policies in the short run, since poor economic performances may lead to high public debt levels.

scholarly journals Public debt and economic growth: Further evidence for the euro area

2018 ◽  
Vol 68 (2) ◽  
pp. 209-229 ◽  
Author(s):  
Marta Gómez-Puig ◽  
Simón Sosvilla-Rivero
Keyword(s):  
Economic Growth ◽  
Euro Area ◽  
Public Debt ◽  
Negative Impact ◽  
Annual Data ◽  
Bounds Testing ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run

This paper empirically investigates the short and the long run impact of public debt on economic growth. We use annual data from both the central and the peripheral countries of the euro area (EA) for the 1961–2013 period and estimate a production function augmented with a debt stock term by applying the Autoregressive Distributed Lag (ARDL) bounds testing approach. Our results suggest different patterns across the EA countries and tend to support the view that public debt always has a negative impact on the long-run performance of EA member states, whilst its short-run effect may be positive depending on the country.

scholarly journals Electricity Consumption and Economic Growth in Jordan: Bounds Testing Cointegration Approach

2016 ◽  
Vol 12 (1) ◽  
pp. 429
Author(s):  
Al-Abdulrazag A. Bashier
Keyword(s):  
Economic Growth ◽  
Strong Support ◽  
Electricity Consumption ◽  
Bounds Testing ◽  
Causality Test ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Equilibrium Relationship ◽  
Short Run

The objective of this paper is to investigate the short-run and longrun causal relationships between electricity consumption and economic growth in Jordan between 1976 and 2013, utilizing the Autoregressive Distributed Lag (ARDL) model. Estimates revealed the existence of a longrun equilibrium relationship between the said variables. The VECM model results indicated a long-run, bidirectional causality between the two variables as seen from the negative and significant error correction terms. The results of Granger-Causality test within VECM disclosed a bidirectional weak and strong short-run causality between electricity consumptions per capita and economic growth. The estimation results provide a strong support for the feedback hypothesis in Jordan

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