A Markov Switching Cointegration Analysis of the CDS‐Bond Basis Puzzle

The purpose of this study to examine the relationship between financial development and human development in the health and welfare dimensions of developing countries. This study aims to determine whether the financial developments of the countries have an effect on the basic human development of the individuals and whether human development indicators have an impact on financial development. In this study, the relationship between financial development and human development has been tried to be revealed by using data obtained from developing countries. Financial development levels of the countries were measured with the developed financial development index. The index is calculated by using M3 / GDP, private sector loans / GDP and loans to banks from private sector / GDP ratios. The human development index is calculated by considering various health indicators and GNP per capita. The data includes annual data for the period 1970-2016. Pedroni and Kao cointegration analysis and Dumitrescu & Hurlin panel causality analysis were performed in the study. According to the results of the study, the cointegration relationship was determined between the two variables. There is also a two-way causality between the variables.

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DYNAMIC EVOLUTION MECHANISM OF CHINA TOTAL FACTOR ENERGY EFFICIENCY: COINTEGRATION ANALYSIS USING THE PANEL DATA FROM 1991 TO 2009

Environmental Engineering and Management Journal ◽

10.30638/eemj.2014.132 ◽

2014 ◽

Vol 13 (5) ◽

pp. 1257-1264 ◽

Cited By ~ 1

Author(s):

Jian-Min Wang ◽

Li Yang ◽

Chuan-Xu Wang

Keyword(s):

Energy Efficiency ◽

Panel Data ◽

Cointegration Analysis ◽

Dynamic Evolution ◽

Evolution Mechanism

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KOINTEGRASI EKSPOR IMPOR INDONESIA, 1970 - 2013

Buletin Ilmiah Litbang Perdagangan ◽

10.30908/bilp.v8i2.88 ◽

2014 ◽

Vol 8 (2) ◽

pp. 229-246

Author(s):

Azis Muslim

Keyword(s):

Structural Break ◽

Trade Deficit ◽

Budget Constraint ◽

Cointegration Analysis ◽

Annual Data ◽

Short Term ◽

Data Period

Penelitian ini bertujuan untuk mengetahui apakah terdapat kointegrasi antara ekspor dan impor di Indonesia. Metode yang digunakan dalam penelitian ini adalah Uji Kointegrasi Gregory-Hansen dengan pertimbangan adanya structural break berdasarkan pada data tahunan ekspor impor Indonesia dari tahun 1970 sampai dengan 2013. Hasil penelitian memperlihatkan bahwa tidak terjadi kointegrasi antara ekspor dan impor. Hal ini berarti bahwa Indonesia menghadapi masalah neraca pembayaran, serta defisit perdagangan yang terjadi bukan merupakan fenomena jangka pendek. This research aims to investigate empirically the existence of Indonesian export import cointegration. This Research used the Gregory-Hansen cointegration analysis due to structural break based on Indonesia Export import annual data (period of 1970-2013 ). The results showed that there is no-cointegration of Indonesia export and import which means that Indonesia is facing international budget constraint and trade deficit isn’t a short term phenomenon.

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Export-led Growth Hypothesis in MINT Countries: A Panel Cointegration Analysis

International Conference on Eurasian Economies 2017 ◽

10.36880/c09.01989 ◽

2017 ◽

Author(s):

Harun Bal ◽

Shahanara Basher ◽

Abdulla Hil Mamun ◽

Emrah Akça

Keyword(s):

Economic Growth ◽

Large Population ◽

Panel Cointegration ◽

Secondary Data ◽

Capital Formation ◽

Cointegration Analysis ◽

Promotion Strategy ◽

Key Factor ◽

Good Number ◽

Growth Hypothesis

The contribution of exports to GDP in MINT countries that improve substantially just after their implantation of export promotion strategy in the late 1980s raises the issue of whether the growth in these countries is led by export or not. While a good number of studies have been found investigating whether economic growth is promoted by exports for developing countries having an outstanding share of export in GDP, no study investigating the export-led growth hypothesis for MINT countries has been found until recent times. The main purpose of this study is to fill up the void. The study employs panel cointegration technique with an aim to examine whether the export is the key factor of economic growth for MINT countries employing yearly secondary data that covers the period. Results of the study imply that economic growth of these countries is considerably exports driven. Moreover, there is an indication of improvement of efficiency as exports work along with the rise capital formation. As the employment opportunity of an economy is expanded through capital formation, the emerging MINT countries endowed with large population and favorable demographics are expected to become the major exporters with strong GDP growth by being able to attract adequate foreign investment.

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