Cross-country growth regressions: problems of heterogeneity, stability and interpretation

Maddala, G. S.; Wu, Simin

doi:10.1080/000368400322534

Cited by 59 publications

(49 citation statements)

References 28 publications

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“…However, we have to maintain the assumption of homogeneity over time within a country. Maddala and Wu (2000) find some limited evidence of instability over time in growth relationships.…”

Section: Introductionmentioning

confidence: 99%

Different ways of looking at old issues: a time-series approach to inequality and growth

Gobbin¹,

Rayp²

2008

Applied Economics

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“…However, we have to maintain the assumption of homogeneity over time within a country. Maddala and Wu (2000) find some limited evidence of instability over time in growth relationships.…”

Section: Introductionmentioning

confidence: 99%

Different ways of looking at old issues: a time-series approach to inequality and growth

Gobbin¹,

Rayp²

2008

Applied Economics

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“…The absence of stationarity-Nonstationarity-can strongly influence the behavior and properties of the series, so that the tests about the regression parameters cannot be validated (Sarbapriya, 2012). In this study, stationarity of the data is tested using Fisher test-a unit root test for unbalanced panels as suggested by Maddala and Wu (1999), where a p-value greater than 5% indicates that the data has a unit root test and is non-stationary. The Fisher test can be calculated in two methods: taking into consideration the augmented Dickey-Fuller (ADF) test or taking into consideration the Philips Perron test (PP).…”

Section: Assumption 2: Unit-root Test (Stationary Test)mentioning

confidence: 99%

Determinants of the Dividend Policy: An Empirical Study on the Lebanese Listed Banks

Maldajian¹,

Khoury²

2014

IJEF

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This research aims at investigating the factors determining the dividend payout policy in the Lebanese banks listed on the Beirut Stock Exchange. This study considers the impact of seven variables, namely, profitability, liquidity, leverage, firm size, growth, firm risk and previous year's dividend payout on the dividend payout ratios by using an unbalanced panel dataset of listed banks between the years of 2005 and 2011. Two models were tested using the OLS and the dynamic panel regressions. Empirical results show that the dividend payout policies are positively affected by the firm size, risk and previous year's dividends, but are negatively affected by the opportunity growth and profitability. The results obtained might indicate that firms pay dividends with the intention of reducing the agency conflicts. Furthermore, managers take into consideration the stability of dividends while determining the dividend policy. Moreover, the results suggest that the Lebanese listed firms prefer to invest their earnings to grow rather than to pay more dividends.

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“…This study uses the panel unit root test of the variables by five standard method tests for panel data including Levin and Chu test, (LLC, 2002), the Im, Pesaran and Shin (IPS, 2003)) test, the Fisher-Type test by ADF and PP-test (Maddala and Wu (1999) and finally Breitung (2000) test.…”

Section: Panel Unit Root Testsmentioning

confidence: 99%

Financial Deepening and Economic Growth in Gulf Cooperation Council Countries

Hamdi

Sbia

Taş

2014

International Economic Journal

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The aim of this paper is to investigate the causal relationship between financial development and economic growth in GCC countries for the period 1980-2010. To this end we use a multivariate vector autoregressive (VAR) framework by including investment as an additional variable to the finance and growth nexus. Our empirical analysis is based on a modified version of the Granger non-causality test by applying the Toda and Yamamoto procedure. The overall empirical results reveal that financial development contributes significantly to economic growth in the GCC context. Our results could be of great interest for policymakers since the financial sector could play a crucial role in lowering the dependence of the governments to oil revenues and could contribute significantly to spur economic growth.JEL classification: E44-G10-O16

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Cross-country growth regressions: problems of heterogeneity, stability and interpretation

Cited by 59 publications

References 28 publications

Different ways of looking at old issues: a time-series approach to inequality and growth

Different ways of looking at old issues: a time-series approach to inequality and growth

Determinants of the Dividend Policy: An Empirical Study on the Lebanese Listed Banks

Financial Deepening and Economic Growth in Gulf Cooperation Council Countries

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