This study examines the link between oil prices and economic activity proxied by gross domestic product in the context of South Africa. The study employs the asymmetric approach proposed by Schorderet (2004) and advanced by Lardic and Mignon (2008). Asymmetric cointegration is used because it is believed that increasing and decreasing oil prices do not have similar or equal impacts on economic activity. In this study we document evidence for an asymmetric response of economic activity to oil price shocks. Further, our findings suggest that negative oil price shocks are important relative to positive oil price shocks.
China is viewed as the pillar of Emerging Market Economies (EMEs), deems to surpassed United State, and become the topmost industrialized country in the world with the prospects of major shift in the future world power. However, growth rate has slow down since the third quarter of 2014. Through this paper, we aim at investigating the impacts of monetary policy on industrial sector growth, and determine whether the long-run industrial sector growth in China can be foster by the effectiveness of monetary policy. It also examines the interrelationships among the variables employed and determines the steady-state relationships between industrial sector growth and monetary policy. Time-series econometric techniques such as unit roots, ARDL and ECM are employed to monthly data for the year 1994:1 to 2013:12.According to the empirical results derived, the effectiveness of monetary policy significantly affects industrial sector growth and the short-run impact of monetary policy on industrial output production is established.
China is viewed as the pillar of Emerging Market Economies (EMEs), deems to surpassed United State, and become the topmost industrialized country in the world with the prospects of major shift in the future world power. However, growth rate has slow down since the third quarter of 2014. Through this paper, we aim at investigating the impacts of monetary policy on industrial sector growth, and determine whether the long-run industrial sector growth in China can be foster by the effectiveness of monetary policy. It also examines the interrelationships among the variables employed and determines the steady-state relationships between industrial sector growth and monetary policy. Time-series econometric techniques such as unit roots, ARDL and ECM are employed to monthly data for the year 1994:1 to 2013:12.According to the empirical results derived, the effectiveness of monetary policy significantly affects industrial sector growth and the short-run impact of monetary policy on industrial output production is established.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
customersupport@researchsolutions.com
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.