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Journal articles on the topic 'Panel Causality Test'

Author: Grafiati

Published: 4 June 2025

Last updated: 1 August 2025

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1

DR, BHADRAPPA HARALAYYA, and S. AITHAL P. "ANALYSIS OF BANK PRODUCTIVITY USING PANEL CAUSALITY TEST." Journal of Huazhong University of Science and Technology ISSN-1671-4512 50, no. 6 (2021): 1–16. https://doi.org/10.5281/zenodo.4911244.

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To distinguish the wellsprings of varieties in TFP development crosswise over SCBs in India and the components that can contribute for generally speaking improvement, development and execution of keeping money part in India, the present investigation completed a causality examination. To look at such relationship the present commitment has attempted to ascertain easygoing relationship of TFP records with the money related markers like business per branch, business per worker, NIM/TA, benefit and ROA.It turns out to be fairly hard to find out the profitability of work specifically. Along these

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Amri, Khairul. "Analisis Pertumbuhan Ekonomi dan Ketimpangan Pendapatan: Panel Data 8 Provinsi di Sumatera." Jurnal Ekonomi dan Manajemen Teknologi (EMT) 1, no. 1 (2017): 1–11. https://doi.org/10.5281/zenodo.1484385.

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Abstract: This study aims to determine the causality relationship between economic growth and income inequality. Using panel data of 8 provinces in Sumatera during the period of 2007-2015. The data analyzed by panel vector autoregression (PVAR) and panel granger causality test. The study found that economic growth over a given period was significantly influenced by the economic growth of the previous year, and income inequality over a given year was also significantly influenced by the income inequality of the previous year. The result of panel granger causality test found that there is unidir

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Kacemi, Tarek, and Sallahuddin Hassan. "Causal Linkage between Inflation and Unemployment: An evidence from the Selected MENA Countries." Pakistan Journal of Humanities and Social Sciences 6, no. 1 (2018): 121–31. http://dx.doi.org/10.52131/pjhss.2018.0601.0037.

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The current study measures the causal association between inflation and unemployment employing Phillips Curve approach from 1990 until 2016 for selected MENA countries. Granger causality and the heterogeneous causality methods for Panel are employed by this study as proposed by Dumitrescu and Hurlin. This causality test has an advantage over the panel Granger causality as it considers two dimensions of heterogeneity. The finding revealed a unidirectional causality between unemployment and inflation with Panel Dumitrescu and Hurlin Granger causality but not in the panel Granger causality test.

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Sotiropoulou, Theodora, Stefanos Giakoumatos, and Antonios Georgopoulos. "Financial development, economic growth, and income inequality: a Toda-Yamamoto panel causality test." Economics and Business Letters 12, no. 2 (2023): 172–85. http://dx.doi.org/10.17811/ebl.12.2.2023.172-185.

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This paper examines the causality between financial development, economic growth, and income inequality using panel data for 23 European Union countries over the period 1987-2017. The empirical study employs a trivariate setting of Granger non-causality test of heterogeneous panels adopting the Toda and Yamamoto approach using several proxies of financial development capturing different dimensions of the banking system and stock markets. The findings suggest mixed evidence for the causality direction between financial development and economic growth and financial development and income inequal

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Lin, Eric S., and Hamid E. Ali. "Military Spending and Inequality: Panel Granger Causality Test." Journal of Peace Research 46, no. 5 (2009): 671–85. http://dx.doi.org/10.1177/0022343309339247.

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Anoruo, Emmanuel. "Coal consumption and economic growth nexus: Evidence from bootstrap panel Granger causality test." Panoeconomicus 64, no. 3 (2017): 255–71. http://dx.doi.org/10.2298/pan140718019a.

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This paper explores the causal relationship between coal consumption and economic growth for a panel of 15 African countries using bootstrap panel Granger causality test. Specifically, this paper uses the Phillips-Perron unit root test to ascertain the order of integration for the coal consumption and economic growth series. A bootstrap panel Granger causality test is employed to determine the direction of causality between coal consumption and economic growth. The results provide evidence of unidirectional causality from economic growth to coal consumption. This finding implies that coal cons

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Li, Yan Hong. "Granger Causality Test between Oil Consumption and Gross Domestic Product of China Based on the Provincial Panel Data Analysis." Applied Mechanics and Materials 209-211 (October 2012): 1643–46. http://dx.doi.org/10.4028/www.scientific.net/amm.209-211.1643.

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This paper, based on the Provincial Panel Data of 30 provinces during 1995~2010 period, applies the panel unit root, heterogeneous panel co-integration and panel based error correction models to re-investigate co-movement and the causality between oil consumption and GDP. The results show that there is one-way directional causality from energy consumption to GDP in the western area, and one-way causality from GDP to energy consumption in the central area, while no causality between energy consumption and GDP exists in the eastern area.

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Stephen, Geethu Rachel, and N. Savitha. "Public health expenditure and economic growth in India: A causal analysis." Economics and Finance Letters 12, no. 2 (2025): 351–59. https://doi.org/10.18488/29.v12i2.4251.

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The causal relationship between public health spending and economic growth is investigated in this study. Data from a panel of 17 states in India is used for the period 2011 to 2022. The states are selected and categorized into three panels—most improved, moderately improved, and least improved—based on the incremental progress in the health index of the National Institution for Transforming India (NITI) Aayog to ensure homogeneity of the group. The Kao cointegration test and Granger causality tests are used for analysis. The cointegration test results showed a long-run equilibrium nexus betwe

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9

Amri, Khairul. "Analisis Pertumbuhan Ekonomi dan Ketimpangan Pendapatan : Data Panel 8 Provinsi di Sumatera." Jurnal EMT KITA 1, no. 1 (2017): 1–11. https://doi.org/10.35870/emt.v1i1.22.

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This study aims to determine the causality relationship between economic growth and income inequality. Using panel data of 8 provinces in Sumatera during the period of 2007-2015. The data analyzed by panel vector autoregression (PVAR) and panel granger causality test. The study found that economic growth over a given period was significantly influenced by the economic growth of the previous year, and income inequality over a given year was also significantly influenced by the income inequality of the previous year. The result of panel granger causality test found that there is unidirectional c

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10

Barika, Barika, Armelly Armelly, and Benardin Benardin. "TINJAUAN KAUSALITAS INDIKATOR MAKROEKONOMI DI PROVINSI BENGKULU." Convergence: The Journal of Economic Development 2, no. 2 (2021): 118–32. http://dx.doi.org/10.33369/convergence-jep.v2i2.12536.

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The aims of this research are to determine the statistical causality between poverty, education level, economic growth, investment and income inequality in Bengkulu province. To analyze how the influence of education level, economic growth, investment and income inequality on poverty in Bengkulu province. This research are use granger causality test method and Panel Multiple regression. The result shows the variables have causal relations are income inequality with economic growth, income inequality with investment. Panel data regression results show that education, economic growth, and invest

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Kurt, Unzule, Cuneyt Kilic, and Ahmet Tayfur Akcan. "Does Internet Use Affect Air Pollution? Evidence from OECD Countries." International Journal of Energy Economics and Policy 14, no. 3 (2024): 235–46. http://dx.doi.org/10.32479/ijeep.16067.

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This study aims to analyze the relationship between the use of the internet, which has an important place in information and communication, and air pollution (Carbon Dioxide Emissions-CO2). In this context, the relationship between the variables for the 1994-2019 period in 28 OECD countries selected was tested with the help of a panel data analysis with Fourier functions (Fourier unit root test, panel Fourier cointegration test and panel Fourier causality test). The results of the analysis show that internet use reduces air pollution, while economic growth increases air pollution. The results

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Yılancı, Veli, İbrahim Çütcü, and Serkan Araci. "The Causality Relationship between Trade and Environment in G7 Countries: Evidence from Dynamic Symmetric and Asymmetric Bootstrap Panel Causality Tests." Mathematics 10, no. 15 (2022): 2553. http://dx.doi.org/10.3390/math10152553.

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In this paper, we test the dynamic symmetric and asymmetric causality relationship between the ecological footprint and trade openness in G7 countries by suggesting a new bootstrap panel causality test based on seemingly unrelated regressions. We analyzed the time-varying behavior of the symmetric and asymmetric panel causality relationship test to reveal the instabilities in the causality relationships. The obtained results suggest a relationship between the trade openness and ecological footprint in some years of the analysis period and between the negative and positive shocks.

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Fraz, Tayyab Raza. "Exploring the Relationship between Energy Consumption and Economic Growth in Lower Middle and High Income Economies using Panel data Techniques." International Journal of Energy Economics and Policy 12, no. 3 (2022): 50–56. http://dx.doi.org/10.32479/ijeep.12844.

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In this paper, the panel relationship between energy consumption (ECP) and economic growth (GDP), is investigated for the thirty-one countries from 1971 to 2014. These countries are divided into two panels based on lower-middle-income and high-income-level economies. Traditional ADF unit root test is used to confirm the stationarity at first difference. Also, four panel unit root tests, namely LLC (2000), IPS (1997, 2003), Fisher (1999), and Hadri (2000) tests confirmed the stationarity of variables for both panels at first difference. Furthermore, the long-run relationship between ECP and GDP

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YAĞIŞ, Onur. "Finansal Gelişme ve Doğrudan Yabancı Sermaye Yatırımlarının Ekolojik Ayakizi Üzerindeki Etkileri: Panel Nedensellik Analizi." Journal of Social Research and Behavioral Sciences 9, no. 19 (2023): 200–215. http://dx.doi.org/10.52096/jsrbs.9.19.15.

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In this study, the causality test developed by Emirmahmutoğlu and Köse (2011) for the BRICS-T countries (Brazil, Russia, India, China, South Africa and Turkey) the effects of financial development and foreign direct investment investments on the ecological footprint is based on the 1992-2018 period. intended to be used. Firstly, the cross-section test and delta tests were performed. Then, Pesaran (2007) CIPS panel unit root test and Emirmahmutoğlu and Köse (2011) causality test were used. As a result of the study, a one-way causality relationship between financial development and ecological fo

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Fitri, Nurul, and Sasqia Putri. "Effect of Capital Expenditure and Personnel Expenditure on Regional Economic Growth: Empirical evidence from Western Indonesia." Jurnal EMT KITA 3, no. 1 (2019): 34. http://dx.doi.org/10.35870/emt.v3i1.94.

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This study aims to analyze the effect of capital expenditure and personnel expenditure on regional economic growth in western Indonesia. The data used is a panel data of 10 provinces during the period 2008-2015. The econometric models used to analyze the functional relationship of these variables consisted of the fixed effect method of panel regression, and the Granger causality test. The study found that capital expenditure has a positive but not significant effect on regional economic growth. Conversely, personnel expenditure has a positive and significant effect. Granger causality test resu

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Ümit, Asiye Öznur, and Anıl Dağdemir. "The Relationship Between Renewable Energy, Economic Growth and Trade Openness: New Evidence for EU Countries." Sosyoekonomi 33, no. 63 (2024): 161–82. https://doi.org/10.17233/sosyoekonomi.2025.01.08.

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Using panel data analysis, the study analysed the relationship between renewable energy consumption, economic growth, and trade openness for the 27 European Union (EU) member states with the highest energy imports from 1990-2021. The country-specific causality test results showed a unidirectional causality from renewable energy consumption to economic growth in Belgium, Finland, and Italy. However, in Croatia, Greece, Ireland, the Netherlands, Portugal, and Romania, a unidirectional causality was found from economic growth to renewable energy consumption. A bidirectional causality between rene

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Lee, Su-Dong, Junghye Lee, and Chi-Hyuck Jun. "Causality Analysis for Public and Private Expenditures on Health Using Panel Granger-Causality Test." Industrial Engineering and Management Systems 14, no. 1 (2015): 104–10. http://dx.doi.org/10.7232/iems.2015.14.1.104.

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Bakari, Sayef. "REINVEST THE RELATIONSHIP BETWEEN EXPORTS AND ECONOMIC GROWTH IN AFRICAN COUNTRIES: NEW INSIGHTS FROM INNOVATIVE ECONOMETRIC METHODS." INDIAN JOURNAL OF APPLIED ECONOMICS AND BUSINESS 4, no. 2 (2022): 249–82. http://dx.doi.org/10.47509/ijaeb.2022.v04i02.07.

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This research examined the relationship between exports and economic growth in Africa. It employed many innovation econometric methods including Panel FMOLS and DOLS Estimates; Panel VECM; Panel ARDL Model; Pooled OLS, Random Effect Model, Fixed Effect Model and Hausman Test; Panel Pairwise Granger Causality Tests; Panel Toda-Yamamoto Causality Test; and Panel GMM Model. The findings suggested that the estimates of each model prove that there is a positive bidirectionnel relationship between exports and economic growth. Data includes 49 African countries for the period 1960-2018. These empiric

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Kim, DaEun, та Chong-sup Kim. "예산지원과 거버넌스 간의 관계: 패널 그랜저 인과성 검정을 통한 분석". Korea Association of International Development and Cooperation 15, № 2 (2023): 79–94. http://dx.doi.org/10.32580/idcr.2023.15.2.79.

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Purpose: This paper investigates the causal direction between budget support and good governance in foreign aid. In other words, does good governance attract budget support, or does budget support foster good governance? Originality: While the existing literature approaches the relationship between budget support and governance from the perspectives of aid selectivity and aid effectiveness, this study focuses on the causal direction between budget support and governance, bridging the two bodies of scholarship. Methodology: Using the Panel Granger causality test proposed by Dumitrescu and Hurli

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Ouahhabi, Ouiem, and Lahboub Zouiri. "Institutions and Economic Growth: A Panel Granger Causality Analysis." Global Academic Journal of Economics and Business 6, no. 06 (2024): 166–77. https://doi.org/10.36348/gajeb.2024.v06i06.003.

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This paper revisits the direction of causality between institutions and economic growth for a sample of 119 countries over the period 1999-2018, divided into four groups according to income level: high income, upper middle income, lower middle income and low income. The study uses two institutional datasets, the International Country Risk Guide (ICRG) for the main estimation and the World Governance Indicators (WGI) for check the robustness of the results. Using the non-causality Granger test in a heterogeneous panel model with fixed coefficients, developed by Dumitrescu and Hurlin (2012), the

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Zeren, Feyyaz, Nazlıgül Gülcan, Samet Gürsoy, İbrahim Halil Ekşi, Mosab I. Tabash, and Magdalena Radulescu. "The Relationship between Geothermal Energy Consumption, Foreign Direct Investment, and Economic Growth in Geothermal Consumer Countries: Evidence from Panel Fourier Causality Test." Energies 16, no. 3 (2023): 1258. http://dx.doi.org/10.3390/en16031258.

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This paper investigates the relationship between geothermal energy consumption, economic growth, and foreign direct investments in countries where geothermal energy production is possible. Panel Fourier Granger causality and panel Fourier Toda–Yamamoto causality tests (2020–2021) were applied, which can take into account smooth transitional structural breaks with trigonometric functions using quarterly data for the period 2016 Q1–2020 Q3. Data were obtained from the International Energy Agency (IEA), Federal Reserve Economic Data (FRED), and the OECD official website. According to the results

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Pérez-Montiel, José A., and Carles Manera Erbina. "Autonomous expenditures and induced investment: a panel test of the Sraffian supermultiplier model in European countries." Review of Keynesian Economics 8, no. 2 (2020): 220–39. http://dx.doi.org/10.4337/roke.2020.02.05.

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This paper tests the main postulates of the Sraffian supermultiplier model for the case of 16 European economies during the period 1995–2018. We adopt the methodology of Girardi and Pariboni (2016) and extend it to a panel framework. We apply panel unit root, cointegration, and causality tests that are robust to endogenous regressors, cross-sectional dependence and heterogeneity across countries. Our results are supportive of the Sraffian supermultiplier model. In a heterogeneous panel framework, autonomous demand and output follow a long-run equilibrium relationship and there exists panel lon

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Lu, Xun, Liangjun Su, and Halbert White. "GRANGER CAUSALITY AND STRUCTURAL CAUSALITY IN CROSS-SECTION AND PANEL DATA." Econometric Theory 33, no. 2 (2016): 263–91. http://dx.doi.org/10.1017/s0266466616000086.

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Granger noncausality in distribution is fundamentally a probabilistic conditional independence notion that can be applied not only to time series data but also to cross-section and panel data. In this paper, we provide a natural definition of structural causality in cross-section and panel data and forge a direct link between Granger (G–) causality and structural causality under a key conditional exogeneity assumption. To put it simply, when structural effects are well defined and identifiable,G–non-causality follows from structural noncausality, and with suitable conditions (e.g., separabilit

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Ogundari, Kolawole, and Adebayo Aromolaran. "Nutrition and economic growth in sub-Saharan Africa: a causality test using panel data." International Journal of Development Issues 16, no. 2 (2017): 174–89. http://dx.doi.org/10.1108/ijdi-12-2016-0076.

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Purpose This study aims to investigate the causal relationship between nutrition and economic growth in sub-Saharan Africa. Design/methodology/approach A dynamic panel causality test based on the Blundell-Bond’s system generalized methods-of-moment was used. To make efficient inference for the estimates, the authors check for the panel unit root and co-integration relationship amongst the variables. Findings The variables were found to be non-stationary at level, stationary after first difference and co-integrated. The results of the causality tests reveal evidence of long and short-run bidire

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Karaca, Cengizhan. "Dynamics of Trade Credit, Bank Credit Extension, Sustainable Economic Growth, and Imports: Evidence from the European Non-Financial Sector." Sustainability 15, no. 17 (2023): 12857. http://dx.doi.org/10.3390/su151712857.

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This study investigates the relationship between trade credit and sustainable economic growth, bank credit extension, and imports in the context of 15 European non-financial sectors spanning 2005Q1 to 2019Q2. Furthermore, it attempts to unveil the nonlinear relationship between trade and bank credit extension. To achieve these aims, balanced panel data are constructed and second-generation panel data are used to analyze Panel AMG Estimation, and an improved panel causality test for heterogeneous panels is employed. To enhance the robustness of the study, the results are scrutinized on a countr

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Rani, Ritu, and Naresh Kumar. "Panel Data Analysis of Financial Development, Trade Openness, and Economic Growth: Evidence from BRICS Countries." Emerging Economy Studies 4, no. 1 (2018): 1–18. http://dx.doi.org/10.1177/2394901518767023.

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The purpose of this article is to investigate the possible cointegration and direction of causality between foreign direct investment (FDI) inflow, trade openness, and economic growth in BRICS countries using panel data from 1993 to 2015. Besides these variables, money supply and domestic credit (DC) to private players are also added in the model to examine the impact of financial openness on economic growth. The Pedroni’s panel cointegration test is used to examine the existence of long-run relationship, and coefficients of cointegration are examined by fully modified ordinary least square (F

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Kilic, Nazife Özge, and Murat Beser. "Relationship of Foreign Trade and Economic Growth in Eurasian Economy: Panel Data Analysis." International Journal of Economics and Finance 9, no. 9 (2017): 1. http://dx.doi.org/10.5539/ijef.v9n9p1.

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In this study, relationship between foreign trade and economic growth had been examined for the countries of Eurasia Economic Union by using data in era of 1992-2015 with the help of panel data analysis. First of all, cross-sectional dependency and homogeneity test had been done in the study and it had been concluded that there is cross-sectional dependency in between the series. For this purpose, unit root and causality test considering the cross-sectional dependency had been applied. Relationship between the variables had been analyzed with the panel causality test developed by Konya (2006).

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BAKTEMUR, Fatma İdil. "Renewable Energy Consumption and Economic Growth Relationship in Developing Countries." Kent Akademisi 16, no. 4 (2023): 2779–88. http://dx.doi.org/10.35674/kent.1349469.

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Renewable energy is typically characterized as energy produced from solar, wind, geothermal, tide and wave, wood, waste, and biomass sources. Renewable energy is a crucial issue since it is a clean energy source with less environmental impact. This study aims to use panel methodologies to investigate the relationship between the use of renewable energy and economic growth in developing countries for the years 1990 to 2019. Panel unit root test was performed for the stationarity of the series. After this stage, panel cointegration tests were performed and a long run relationship for renewable e

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Veselinović, Nevena, and Danijela Despotović. "Financial development, foreign direct investment and economic growth: Panel causality approach." Industrija 49, no. 3-4 (2021): 47–61. http://dx.doi.org/10.5937/industrija49-35397.

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The examination considers the causality between banking sector depth, foreign direct investment, and economic growth in the sample of six Central and Eastern European countries in the period range between 2000 to 2018. Utilizing the Dumitrescu and Hurlin (2012) panel causality test, the results confirmed a supply-leading hypothesis, FDI-led growth hypothesis, and unidirectional causality from the banking sector depth to foreign direct investment. As the causality ranging from the depth of the banking sector to foreign direct investment and economic growth has been confirmed, the conclusion is

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Eyuboglu, Sinem, and Kemal Eyuboglu. "Tourism development and economic growth: an asymmetric panel causality test." Current Issues in Tourism 23, no. 6 (2019): 659–65. http://dx.doi.org/10.1080/13683500.2019.1588863.

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Hoffmann, Robert, Chew-Ging Lee, Bala Ramasamy, and Matthew Yeung. "FDI and pollution: a granger causality test using panel data." Journal of International Development 17, no. 3 (2005): 311–17. http://dx.doi.org/10.1002/jid.1196.

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Sugözü, İ. H., and S. Yaşar. "Which Hypothesis is Valid for OECD Countries in the Context of the Relationship between Energy Consumption and Economic Growth? A Panel Data Analysis." Economy of Regions 19, no. 2 (2023): 560–74. http://dx.doi.org/10.17059/ekon.reg.2023-2-20.

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In the study, panel data analysis was conducted on 32 OECD countries covering the period 1990-2018. To analyse the effect of energy consumption on economic growth, first, a cross-section dependence test of the variables was carried out, then CADF Test, which is the most suitable unit root test based on the obtained results results, was applied. According to the findings of the Hausman, autocorrelation, and heteroscedasticity tests, it has been decided to use the Driscoll-Kraay test for the model’s forecast. The forecast results demonstrate that energy consumption positively affects economic gr

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KÜÇÜKSAKARYA, Sevilay. "Causality test among foreign direct investment, trade openness and economic growth: recent evidence from BRICS and MINT countries." Business & Management Studies: An International Journal 10, no. 4 (2022): 1416–24. http://dx.doi.org/10.15295/bmij.v10i4.2161.

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This study attempts to find new evidence of causality between foreign direct investment, trade openness, and economic growth for BRICS and MINT countries between 1990-2021 using the Dumitrescu-Hurlin panel causality test. We first check whether there is a cross-sectional dependence between the countries using different cross-sectional dependence tests. After we find out there is cross-sectional dependence, we perform the CIPS unit root test. All variables are stationary at their first differences, so we applied the Dumitrescu-Hurlin panel causality test. There is bi-directional causality betwe

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Ariyati, Nadlia, Fitria Rahayu, Nabila Rizqi Amalia, et al. "Pertumbuhan Ekonomi, Belanja Modal dan Indeks Pembangunan Manusia: Panel Data Evidence Empat Kabupaten di Aceh." Jurnal Samudra Ekonomi dan Bisnis 9, no. 1 (2018): 92–103. http://dx.doi.org/10.33059/jseb.v9i1.465.

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Penelitian ini bertujuan untuk menganalisis pengaruh pertumbuhan ekonomi dan belanja modal terhadap Indeks Pembangunan Manusia (IPM). Data yang digunakan adalah data panel empat kabupaten di Aceh terdiri dari kabupaten Aceh Tamiang, Gayo Lues, Aceh Tenggara, dan kabupaten Simeulu selama periode tahun 2011-2015. Data di analisis dengan menggunakan Regresi Panel, Panel Vector Autorgression (PVAR) dan Granger Causality Test. Penelitian menemukan bahwa pertumbuhan ekonomi berpengaruh positif dan signifikan terhadap Indeks Pembangunan Manusia, sebaliknya belanja modal berpengaruh positif namun tida

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Pandey, Sweety, and Mrutyunjaya Mishra. "CO2 Emissions and Economic Growth of SAARC Countries: Evidence from a Panel VAR Analysis." World Journal of Applied Economics 1, no. 2 (2016): 23. http://dx.doi.org/10.22440/econworld.j.2015.1.2.sp.0009.

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The paper examined the causality in both static and dynamic framework between CO2 emissions and economic growth of SAARC countries over the period 1972-2010 using panel approach. The paper presents the facts obtained on the basis of panel unit root test, panel-co-integration test , panel VECM and Impulse Response functions (IRFs) and Variance decomposition (VDs). IRFs and VDs analysis indicate that CO2 emissions, GDP have positive impact on each other. The result from the application of VECM analysis suggests unidirectional causality running from economic growth to CO2 emissions. The result fo

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Ramos-Herrera, María del Carmen, and María A. Prats. "Fiscal Sustainability in the European Countries: A Panel ARDL Approach and a Dynamic Panel Threshold Model." Sustainability 12, no. 20 (2020): 8505. http://dx.doi.org/10.3390/su12208505.

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We analyze the fiscal sustainability hypothesis for a panel of 20 European Union countries from 2000 to 2019. In particular, we employ new econometric methodologies that, to the best of our knowledge, are applied for the first time to the study of sovereign fiscal policy sustainability in these economies. Specifically, we estimate the panel ARDL technique, distinguishing between short- and long-run coefficients because the order of integration of our variables is not the same. Moreover, a panel threshold model with endogeneity is considered to investigate whether, departing from a particular t

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Saddam Hussain and Muhammad Zahir Faridi. "Eradicating Poverty in Developing Countries: The Role of Technological Innovation, Foreign Direct Investment and Institutional Quality." Critical Review of Social Sciences Studies 3, no. 2 (2025): 905–25. https://doi.org/10.59075/jvydkw42.

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This study analyzes the effect of technological innovation, institutional quality, and foreign direct investment on poverty eradication in developing countries using the data from 53 developing countries from 2002 to 2021. Different econometric techniques are used for data estimation including cross-sectional dependence test, slope homogeneity test, CIPS and CADF tests of unit root, panel cointegration test, FGLS model for parameter estimations, PCSE model for robustness estimation and Granger causality test. The findings show that FDI, institutional quality, technological innovation and educa

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Rouksar-Dussoyea, Bibi, Ho Ming-Kang, Raja Rajeswari, and Benjamin Chan Yin-Fah. "Economic Crisis in Europe: Panel Analysis of Inflation, Unemployment and Gross Domestic Product Growth Rates." International Journal of Economics and Finance 9, no. 10 (2017): 145. http://dx.doi.org/10.5539/ijef.v9n10p145.

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This panel analysis study is conducted to examine the relationship between inflation rates (CPI) and unemployment rates (HUR) with the Gross Domestic Product growth rates (GDP), before and after the 2008 European crisis. Quarterly data for 18 consecutive years and six sample countries from Europe (Austria, France, Germany, Greece, Hungary and United Kingdom) have been considered in the panel. In order to get a more profound understanding of the impacts of the European crisis on the relationship between the variables, the panel data set has been classified into 3 separate panels, such that Pane

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Küçüksakarya, Sevilay. "A panel causality analysis of the relationship between financial development and economic growth in OECD countries." Business & Management Studies: An International Journal 9, no. 2 (2021): 662–72. http://dx.doi.org/10.15295/bmij.v9i2.1817.

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This study examines the relationship between financial development and economic growth. Thus, this study aims to find empirical shreds of evidence for the direction of the causality between financial development proxied by domestic credit to the private sector and per capita GDP growth by using the panel granger causality test of the Dumitrescu-Hurlin Test. For this purpose, we used a panel of 16 OECD countries from 2008 to 2019 to provide evidence of whether the supply leading hypothesis or demand following hypothesis or both holds. All econometric exercises are carried out for whole countrie

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Amri, Khairul, and A. rahmat Adi. "PENGARUH RELIGIUSITAS KE-ISLAMAN TERHADAP PERTUMBUHAN EKONOMI DAERAH: BUKTI DATA PANEL KABUPATEN KOTA DI ACEH." Jurnal Ilmiah Ekonomi Dan Bisnis 18, no. 1 (2021): 19–28. http://dx.doi.org/10.31849/jieb.v18i1.5037.

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Penelitian ini menginvestigasi hubungan fungsional antara pertumbuhan ekonomi daerah dengan religiusitas ke-islaman. Pengukuran religiusitas keislaman diproxi dengan tiga dimensi yakni masjid, pesantren dan santri. Data yang dioperasionalkan adalah data panel 23 kabupaten kota di Aceh selama periode 2010-2017. Selanjutnya model analisis data yang digunakan adalah regresi panel pendekatan fixed effect method dan Granger causality test. Penelitian menemukan bahwa perkembangan mesjid dan jumlah santri berpengaruh positif dan signifikan terhadap pertumbuhan ekonomi. Sebaliknya pesantren tidak berp

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BAKIRTAS, Tahsin, and Hilal ALPDOGAN. "FOREIGN DIRECT INVESTMENT AND ECONOMIC GROWTH IN THE BRIC-T COUNTRIES: A PANEL DATA ANALYSIS." Review of Management and Economic Engineering 19, no. 2 (2020): 200. https://doi.org/10.71235/rmee.160.

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The stable economic growth of developing countries is heavily dependent on -especially Foreign Direct Investment- foreign financing. Thus, developing countries become overly dependent on foreign-capital-exporting countries. In this study, this hypothesis has been proved using econometric methods. In this context, this study aimed to analyze the relationship between the gross domestic product (GDP) and the foreign direct investment (FDI) in the BRIC-T countries (Brazil, Russia, India, China and Turkey) by conducting panel unit root tests and panel co-integration tests as FMOLS and DOLS estimato

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Ferina, Mutia, and Ali Anis. "KAUSALITAS PENANAMAN MODAL DALAM NEGERI, PENANAMAN MODAL ASING DAN PENYERAPAN TENAGA KERJA DI INDONESIA." Jurnal Kajian Ekonomi dan Pembangunan 2, no. 1 (2020): 177. http://dx.doi.org/10.24036/jkep.v2i1.8962.

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This study aims to determine and analyze the causality of Domestic Investment (PMDN), Foreign Investment (PMA), and Labor Absorption in Indonesia. This type of research is descriptive and associative research that is research that describes the research variables and find the presence or absence of causality between each of these variables. The type of data in this study are secondary data and panel data from 2013-2017 per Province in Indonesia. Analysis of the data used is descriptive analysis and inductive analysis. In inductive analysis there are several tests, namely: Analysis of Vector Au

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Ferina, Mutia, and Ali Anis. "Kausalitas Penanaman Modal Dalam Negeri, Penanaman Modal Asing dan Penyerapan Tenaga Kerja di Indonesia." Jurnal Kajian Ekonomi dan Pembangunan 2, no. 2 (2020): 39. http://dx.doi.org/10.24036/jkep.v2i2.12640.

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This study aims to determine and analyze the causality of Domestic Investment (PMDN), Foreign Investment (PMA), and Labor Absorption in Indonesia. This type of research is descriptive and associative research that is research that describes the research variables and find the presence or absence of causality between each of these variables. The type of data in this study are secondary data and panel data from 2013-2017 per Province in Indonesia. Analysis of the data used is descriptive analysis and inductive analysis. In inductive analysis there are several tests, namely: Analysis of Vector Au

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Indrabudiman, Amir. "Model and Financial Performance: Panel Data in Causality and Cointegration Test." International Journal of Engineering & Technology 7, no. 3.27 (2018): 391. http://dx.doi.org/10.14419/ijet.v7i3.27.17979.

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This paper aims to analyze the interaction between financial performance variables and bankruptcy status of companies in the banking industry in Indonesia. This study used the test of causality and cointegration of panel data for variable bankruptcy status and variable of financial performance among others (variable of NPL, ROA, CAR, NIM, SIZE, GROWTH, LEVERAGE) at 43 banks listed on BEI during 2010-2016 financial reporting period. From the research conducted in the findings that between the status of bankruptcy and variable financial performance of banks in Indonesia are only a few variables

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GÜL, Ekrem, and Mustafa TORUSDAĞ. "Analysis of the Effects of Defense Expenditures on Income Distribution and Economic Development with Panel Asymmetric Causality Test: Brics Countries and Turkey Case." International Journal of Contemporary Economics and Administrative Sciences 9, no. 1 (2019): 1–23. https://doi.org/10.5281/zenodo.3262188.

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<strong>Abstract </strong> In this study, for BRICS countries and Turkey defense spending economic development and income distribution relationship is examined for the period 1995-2015. High defense expenditures are on the agenda as an important research topic in the world and in our country. Therefore, the effects of defense expenditures on income distribution and economic development of countries can be determined by examining these three variables. For the BRICS countries and Turkey, to examining the impact of defense spending and income distribution to economic development too much work no

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Cayssials, Gaston, Fernando Antonio Ignacio González, and Silvia London. "Population and Economic Growth: a Panel Causality Analysis." Population and Economics 8, no. (3) (2024): 220–40. https://doi.org/10.3897/popecon.8.e109133.

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This paper examines the relationship between population growth and economic growth using panel data from 111 countries over the period from 1960 to 2019. In the first stage of the analysis, we divided the sample into three groups of countries using a non-parametric method. Unlike the ad hoc decisions made in previous studies, which were based on factors such as size or economic performance, these categories were determined objectively. We conducted a Granger causality analysis on internally homogeneous groups, composed of countries with similar trajectories in population and economic growth, w

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Bayar, Yilmaz, Mahmut Unsal Sasmaz, and Mehmet Hilmi Ozkaya. "Impact of Trade and Financial Globalization on Renewable Energy in EU Transition Economies: A Bootstrap Panel Granger Causality Test." Energies 14, no. 1 (2020): 19. http://dx.doi.org/10.3390/en14010019.

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The globalized world has experienced significant environmental degradation together with raising global production and population. In this context, the employment of renewable energy use has become crucial for a sustainable environment and development. In the research, the mutual causality among renewable energy, trade and financial globalization, real GDP per capita, and CO2 emissions in EU transition economies experiencing the integration with global economy was explored through bootstrap panel Granger causality test for the period of 1995–2015. The causality analysis revealed a unilateral c

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Chang, Tsangyao, Shu-Ching Cheng, Guochen Pan, and Tsung-pao Wu. "Does globalization affect the insurance markets? Bootstrap panel Granger causality test." Economic Modelling 33 (July 2013): 254–60. http://dx.doi.org/10.1016/j.econmod.2013.04.008.

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Sehrawat, Madhu, and A. K. Giri. "Financial development and poverty reduction: panel data analysis of South Asian countries." International Journal of Social Economics 43, no. 4 (2016): 400–416. http://dx.doi.org/10.1108/ijse-04-2014-0069.

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Purpose – The purpose of this paper is to examine the contribution of financial development to poverty reduction in 11 South Asian developing countries using panel data set over the time period 1990-2012. Design/methodology/approach – The stationarity properties are checked by using Levin-Lin-Chu and Im-Pesaran-Shin panel unit root tests. The paper applied the Pedroni’s panel co-integration test to examine the existence of long-run relationship. The coefficients of co-integration are examined by fully modified OLS (FMOLS) and the causal link is checked by panel causality test. Findings – The e

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Umit, A. Oznur, and Anıl Dagdemir. "Panel Data Analysis of the Impact of External Debt on Economic Growth and Inflation: The Case of Emerging Market Economies." Scientific Annals of Economics and Business 70, no. 4 (2023): 529–46. http://dx.doi.org/10.47743/saeb-2023-0034.

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This study aimed to analyze the impact of external debt on economic growth and inflation for emerging market economies for the period 1995-2020 using the panel data method. To this end, the study used the data on 12 countries listed in the Morgan Stanley Capital Index (MSCI) Emerging Markets Index. The results of the panel cointegration analysis showed that changes in external debt stock affect economic growth in the opposite direction and inflation rate in the same direction. According to the country-specific results of the panel cointegration analysis, external debt had a negative impact on

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