Empirical Analysis of the Interaction between Jiangsu Textiles Industry Export and Cluster

2014 ◽  
Vol 1048 ◽  
pp. 137-143
Author(s):  
Juan Wang ◽  
Dimitrios Tsagdis
Keyword(s):  
Empirical Analysis ◽  
Impulse Response ◽  
Unit Root ◽  
Statistical Data ◽  
Positive Impact ◽  
Unit Root Test ◽  
Location Quotient ◽  
Dynamic Relationship ◽  
Short Run ◽  
Effect Test

Using statistical data from year 2003 to 2011, this paper computes the location quotient and cluster scale of Jiangsu textiles industry, which shows a remarkable cluster tendency. Unit root test and Granger cause-effect test show that in the short run, neither did Jiangsu textiles export has a remarkable positive impact on enhancing Jiangsu textiles cluster, nor did Jiangsu textiles cluster has a remarkable positive impact on enhancing Jiangsu textiles. And impulse response ascertains a long and dynamic relationship between them.

scholarly journals ANALISIS HUBUNGAN PENDAPATAN WISATAWAN DAN HARGA PARIWISATA TERHADAP PERMINTAAN PARIWISATA DENGAN VECM

2016 ◽  
Vol 5 (2) ◽  
pp. 44
Author(s):  
MERARY SIANIPAR ◽  
NI LUH PUTU SUCIPTAWATI ◽  
KOMANG DHARMAWAN
Keyword(s):  
Unit Root ◽  
Unit Root Test ◽  
Cointegration Test ◽  
Tourism Demand ◽  
Long Run ◽  
Negative Effect ◽  
Short Run ◽  
The Relationship ◽  
Positive Effect

Tourism demand is focused on estimating variables which influence tourist visit. The tourism demand that we discuss on this research is the tourism demand to Bali of the major tourism-generating country was Australia. The aim of this research is to analyze the relationship between tourist income and tourism price to tourism demand using VECM. VECM requires that the variables in the model must be stationary and fulfilled a cointegration condition. In order to make it valid, the stationarity of variables in the model have to be checked using ADF unit root test. In additon, cointegration between these variables are examined using Johansen’s cointegration test. The results of ADF unit root test show that indicated the tourist income, the tourism price and the tourism demand for Australia data are stationary in first lag or I(1). Cointegration test shows that all variables are cointegrated, i.e. have a long-run relationship. In the long-run, the tourist income and tourism price give positive effect to the tourism demand. This means, the increase of tourist income and tourism price will contribute to the increase in tourism demand. In addition, in the short-run, the tourist income and the tourism price give negative effect to the tourism demand. This means, the increase of tourist income and tourism price will contribute to the decrease in tourism demand.

scholarly journals TOURISM DEMAND FOR BALI-THE HEGY APPROACH FOR SEASONAL UNIT ROOT TEST

2012 ◽  
Vol 11 (1) ◽  
Author(s):  
Ida Bagus Made Wiyasha
Keyword(s):  
Exchange Rates ◽  
Unit Root ◽  
Unit Root Test ◽  
Wald Test ◽  
Cusum Test ◽  
Parameter Instability ◽  
Economic Role ◽  
Long Run ◽  
Inflation Rates ◽  
Short Run

Tourism plays an important economic role for a destination. This study aims to investigate the behavior of seasonal direct tourist arrivals to Bali. To achieve the aforementioned objective archival data of direct tourist arrivals to Bali from 2001 to 2010 were used. Error Correction Model (ECM) and HEGY approach were applied to analyze the behavior of seasonal tourist arrivals. Wald test was applied in joint test for quarterly parameter. Cusum test were applied to examine the parameter stability for the periods mentioned above. USA, UK, and Japan tourist arrivals were the dependent variables while exchange rates and inflation rates for those mentioned countries were independent variables of the model. The findings of the study are as follows. The ECM results for Japan revealed that in the short run and the long run as well the exchange and inflation rates were negatively related to arrivals. For UK, in the short run exchange rates negatively related to arrivals while inflation rates exhibited positive relation to arrivals. For the US, all exchange rate and inflation rates were positively related to arrivals. Cusum test revealed the following. Japan arrivals exhibited relatively stable parameter for the periods of 2001-2010. UK arrivals showed parameter instability; while US arrivals experienced relatively stable parameter for the periods mentioned earlier. Wald test results showed that all arrivals, USA, UK, and Japan contained a unit root for their quarterly data.

scholarly journals MEASURING CO-MOVEMENT OF REAL INTEREST RATE AND INFLATION RATE: USING VEC APPROACH

2020 ◽  
Vol 7 (6) ◽  
pp. 66-76
Author(s):  
Md. Rasel Hossain ◽  
Ahsanul Haque ◽  
Md. Abdullah Amir Hamja ◽  
M. Shohel Rana
Keyword(s):  
Causal Relationship ◽  
Unit Root ◽  
Unit Root Test ◽  
Testing Procedure ◽  
Vector Error Correction ◽  
Unit Root Testing ◽  
Vec Model ◽  
Long Run ◽  
Short Run ◽  
Johansen Cointegration Test

It is important to know the future movement of economic variables for the planning and development of a country, Vector Error Correction (VEC) Model has been applied to disclose hidden long run as well as short-run patterns of the selected variables. ADF unit root testing procedure was applied to satisfy the conditions of applying the VEC Model. Using Johansen cointegration test long-run cointegration has been justified. But the VEC model reveals that long run significant causal relationship between the variables whereas there is no short-run causal relationship. The parameter was estimated using the OLS estimation technique. The validity of the model was confirmed by applying different quantitative approaches such as normality test, autocorrelation test, Portmanteau test, Unit root test, and various graphical approaches which suggested model selection and estimation were correct. The result of this present study may help Govt. agencies as well as planners to take an idea.

scholarly journals A Sectoral Analysis of Dividend Payment Behavior

SAGE Open ◽  
2017 ◽  
Vol 7 (1) ◽  
pp. 215824401668229 ◽  
Author(s):  
Muhammad Nadeem Khan ◽  
Moona Shamim
Keyword(s):  
Unit Root ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Descriptive Analysis ◽  
Unit Root Test ◽  
Free Cash Flow ◽  
Dividend Payment ◽  
Sectoral Analysis ◽  
Fixed Line

This study analyzes the sector-wise dividend payment behavior of Karachi Stock Exchange (KSE) for the period 2009 through 2013. First, the trend of dividend payment of 5 years with respect to all 32 sectors is assessed through descriptive analysis. Second, the unit root test for panel data and pooled ordinary lest square (POLS) test were used on 15 non-financial sectors. Results show that the earning per share has a positive impact on dividend payment in eight sectors including beverages, travel and leisure, fixed-line telecommunication, food processors, household goods, personal goods, automobiles, and electricity; however, forestry (paper and board) is negatively associated with the dividend payout ratio. In addition, free cash flow has a positive impact on dividend payment in fixed-line telecommunication, and a negative impact on chemical, forestry, construction and material, engineering, beverages, tobacco, travel and leisure, food processor, household goods, pharmaceutical and biotech, and automobiles.

scholarly journals Banking Competition and Economic Growth: 2006-2015 Case of Rwanda

2020 ◽  
Vol 1 (3) ◽  
pp. 513-522
Author(s):  
Faustin Maniraguha
Keyword(s):  
Economic Growth ◽  
Error Correction ◽  
Unit Root ◽  
Growth And Development ◽  
Unit Root Test ◽  
Cointegration Test ◽  
Banking Competition ◽  
Correction Model ◽  
Economic Growth And Development ◽  
Short Run

It has been argued that a competitive and efficient financial sector is a prerequisite for economic growth and development. The objective of this study therefore was to determine the influence of bank competition on economic growth in Rwanda for the period 2006 - 2015.The study used Error Correction Model after conducting Unit Root Test(ADF) and Cointegration Test(Johansen) so that to check the degree of adjustment in the short run. The results revealed that Credit to GDP is highly significant and this implied that there is a need to set the policy influencing credit distribution in order to influence economic growth. In addition disequilibrium found in the short run is corrected quarterly at 70.32%.

scholarly journals Wage-Increment and Development of Black Economy in Nigeria: Influences of Inflation and Taxation

2020 ◽  
Vol 1 (2) ◽  
pp. 141-153
Author(s):  
Emmanuel Okon
Keyword(s):  
Standard Deviation ◽  
Minimum Wage ◽  
Impulse Response ◽  
Response Function ◽  
Value At Risk ◽  
Positive Impact ◽  
Impulse Response Function ◽  
Black Economy ◽  
Dynamic Relationship ◽  
Negative Effect

Purpose: In this paper, wage-black economy relationship was examined while taking into consideration the influences of inflation and taxation. Approach/Methodology/Design: In particular, Value at Risk (VAR) approach was implemented using annually data for Nigeria covering the period 1990-2018 to assess the dynamic relationship among the variables. In light of national minimum wage in Nigeria, impulse response function was used to highlight the plausible responses from black economy to a shock of one standard deviation in each indicated variable. Findings: The result shows that a shock to national minimum wage (LOGMWA) will have a negative effect on black economy (LOGBEC) in Nigeria.  Shocks to inflation (LOGINFL) will have a positive impact on black economy (LOGBEC). Shocks to tax (LOGATAX) will have asymmetric impacts on black economy (LOGBEC). The results were robust even when unemployment (LOGUEMP) was included. An unemployment shock was shown to enhance black economy in Nigeria. Practical Implications: The study is significant for the concerned authorities in Nigeria so that policy measures are taken and directed towards the causes that drive the black economy in the country. Originality/value: The impulse response function was estimated. It was estimated to show the plots of the responses from black economy (LOGBEC) to a one standard deviation shock in each indicated variable (national minimum wage (LOGMWA), inflation (LOGINFL), and tax (ATAX)). The shocks to national minimum wage (LOGMWA) will have a negative effect on black economy (LOGBEC) in Nigeria.

scholarly journals MEASURING CO-MOVEMENT OF REAL INTEREST RATE AND INFLATION RATE: USING VEC APPROACH

2020 ◽  
Vol 7 (6) ◽  
pp. 66-76
Author(s):  
Md. Rasel Hossain ◽  
Ahsanul Haque ◽  
Md. Abdullah Amir Hamja ◽  
M. Shohel Rana
Keyword(s):  
Causal Relationship ◽  
Unit Root ◽  
Unit Root Test ◽  
Testing Procedure ◽  
Vector Error Correction ◽  
Unit Root Testing ◽  
Vec Model ◽  
Long Run ◽  
Short Run ◽  
Johansen Cointegration Test

It is important to know the future movement of economic variables for the planning and development of a country, Vector Error Correction (VEC) Model has been applied to disclose hidden long run as well as short-run patterns of the selected variables. ADF unit root testing procedure was applied to satisfy the conditions of applying the VEC Model. Using Johansen cointegration test long-run cointegration has been justified. But the VEC model reveals that long run significant causal relationship between the variables whereas there is no short-run causal relationship. The parameter was estimated using the OLS estimation technique. The validity of the model was confirmed by applying different quantitative approaches such as normality test, autocorrelation test, Portmanteau test, Unit root test, and various graphical approaches which suggested model selection and estimation were correct. The result of this present study may help Govt. agencies as well as planners to take an idea.

scholarly journals Investigating the role of governmental scholarships, technical training and R&D in the provision of better-quality education in Asia

2020 ◽  
Vol 15 (6) ◽  
pp. 1672-1684
Author(s):  
Noorhapizah Noorhapizah ◽  
Amhar Amhar
Keyword(s):  
Positive Impact ◽  
Unit Root Test ◽  
Quality Of Education ◽  
Policy Makers ◽  
Explanatory Variables ◽  
Long Run ◽  
Development Expenditure ◽  
Short Run ◽  
Asian Economy

It is believed that the significance of various factors like the availability of training in technical terms, research and development expenditure, and government scholarships play a major role in increasing the quality of education. This study has been carried out in order to analyze the detailed impact of various variables on the quality of education in the region of Asia. For this purpose, data was collected over the last 26 years from various Asian economies while considering different databases and sources as well. After collecting the data, unit root test was used in order to analyze the cointegration. Furthermore, ARDL test was also applied in order to investigate the short run and long run relationship between the study variables. The findings of the study reveals the fact that there is a positive impact of selected explanatory variables on the quality of education in Asian economy. Furthermore, the authors conclude that various policy makers, and decision makers can use the present study in both theoretical and practical perspectives as well. However, various limitations are also associated with the present study.   Keywords: Asia ; government scholarship;quality of educationresearch and development.

Relationship between Inflation and Stock Returns – Evidence from BRICS markets using Panel Co integration Test

2015 ◽  
Vol 1 (1) ◽  
pp. 647 ◽  
Author(s):  
Vanita Tripathi ◽  
Arnav Kumar
Keyword(s):  
Stock Returns ◽  
Unit Root ◽  
Negative Relationship ◽  
Unit Root Test ◽  
Stock Index ◽  
Stationary Characteristic ◽  
Long Run ◽  
Integration Test ◽  
Short Run

Stocks are generally considered to be a good hedge against inflation because of their tendency to move together. This paper examines long term relationship between inflation and stock returns in BRICS markets using panel data for the period from March 2000 to September 2013. Correlation results reveal a significant negative relationship between stock index and inflation rate for Russia and a significantly positive relationship for India & China. ADF, PP and KPSS unit root tests indicate non-stationary characteristic of the data. Further we find no long term co-integrating relationship between stock index values and inflation rates using Pedroni panel co integration test. These findings have important implications for policy makers, regulators and investment community at large. There may seem to be short term contemporaneous relationship between inflation and equity returns but in the long run they do not seem to be significantly integrated. Changes in inflation may bring some short run movement in stock return but certainly equity does not seem to be a good hedge against inflation in long run at least in emerging BRICS markets.                       Keywords:  BRICS, Stock Index, Inflation, Unit root test, Pedroni Panel Co integration Test, Johansen Co integration Test.

scholarly journals A Dynamic Relationship between Financial Development and Import Demand for Bangladesh: An Evidence from Combine Cointegration and Granger Causality Approach

2018 ◽  
Vol 19 (3) ◽  
pp. 543-555 ◽  
Author(s):  
Muhammad Ahad ◽  
Adeel Ahmad Dar
Keyword(s):  
Economic Growth ◽  
Error Correction ◽  
Financial Development ◽  
Unit Root ◽  
Unit Root Test ◽  
Correction Method ◽  
Import Demand ◽  
Error Correction Method ◽  
Long Run ◽  
Short Run

This article has estimated the impact of financial development on import demand over the period of 1986: Q1–2014: Q4 in case of Bangladesh. The long-run relationship between financial development, import demand and economic growth are investigated by combine cointegration. Error Correction Method (ECM) is applied to examine short-run phenomena. The unit root properties of variables are tested by augmented Dickey–Fuller test (ADF) and Philips–Perron (P–P) unit root test. Perron (1997) single structural break unit root test is also applied. The results of Bayer and Hanck (2013) combine cointegration test that reveal the existence of long-run relationship between import demand, financial development and economic growth. Financial development and economic growth have a positive and significant impact on import demand in long run as well as in short run. The lagged value of error correction method (ECMt-1) is –0.08 that is negative and significant. This indicates that change from equilibrium level of import demand is corrected by 8 per cent per quarter in a year. The results of Vector Error Correction Model (VECM) Granger causality explain that bidirectional causality exists between import demand and financial development in long run as well as short run. Similarly, bidirectional causality exists between import demand and economic growth in short run. Policymakers should focus on financial sector development for import of technology through adoption of the import substitution policy.

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