The local power of some unit root tests for panel data

Breitung, Jörg

doi:10.1016/s0731-9053(00)15006-6

Cited by 1,697 publications

(1,222 citation statements)

References 14 publications

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“…We use the tests of Im, Pesaran and Shin (2003), Breitung (2000), Levin, Lin and Chu (2002) and Karavias and Tzavalis (2014). Asteriou and Monastiriotis (2004) indicate that when some variables are I(2), the estimation is not consistent.…”

Section: Pooled Mean Group (Pmg) Modelmentioning

confidence: 99%

Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries

2015

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We revisit the relationship between financial development and economic growth in a panel of 52 middle-income countries over the 1980-2008 period. Using pooled mean group estimations in a dynamic heterogeneous panel setting, we show that there is an inverted U-shaped relationship between finance and growth in the long-run. In the short run, the relationship is insignificant. This suggests that too much finance can exert a negative influence on growth in middle-income countries. The finding of a non-monotonic effect of financial development on growth is confirmed by estimating a threshold model.

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Section: Pooled Mean Group (Pmg) Modelmentioning

confidence: 99%

Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries

2015

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“…Furthermore, the listed studies also often use the Breitung (2000), and the Fisher-type ADF and PP tests (see Choi, 2001;Maddala and Wu, 1999) to test for unit roots. In addition, the long-run relationship between energy consumption and GDP, which is commonly confirmed by means of the already mentioned Pedroni (1999Pedroni ( , 2004 test, is almost always estimated with fully modified OLS (FMOLS) as suggested in Pedroni (2000).…”

Section: Literature Reviewmentioning

confidence: 99%

Energy Consumption and Economic Growth Revisited: Structural Breaks and Cross-Section Dependence

Dobnik

2011

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in

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“…Among these tests, the Breitung (2000) test tends to have the smallest size distortion and the highest power ( Hlouskova and Wagner 2006), and is therefore used in this study. However, first generation panel unit root tests, which assume cross-sectional independence, may suffer from size distortions in the presence of cross-sectional dependence.…”

Section: Model Methodsology and Datamentioning

confidence: 99%

“…The reader should keep this in mind when interpreting the results presented in the next section. Table 1 reports the results of the Breitung (2000) and Pesaran (2007) panel unit root tests for zero and one lag. Both tests fail to reject the unit root null for any of the variables.…”

Section: Model Methodsology and Datamentioning

confidence: 99%

An empirical note on the long-run relationship between education and religiosity in Christian countries

Herzer

2017

The B.E. Journal of Macroeconomics

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Abstract:The economics of religion is a relatively new field of research in economics. This note examines whether and how permanent changes in religiosity, measured by church attendance, in the long run are affected by permanent changes in education, measured by three categories: primary, secondary, and tertiary education. Applying panel cointegration techniques to data from 20 Christian countries over the period , it is found that (i) only secondary education has a long-run relationship with religiosity, while there is no long-run relationship between religiosity and primary and tertiary education; (ii) secondary education has a strong negative long-run influence on religiosity; and (iii) long-run causality is unidirectional from secondary education to religiosity.

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The local power of some unit root tests for panel data

Cited by 1,697 publications

References 14 publications

Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries

Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries

Energy Consumption and Economic Growth Revisited: Structural Breaks and Cross-Section Dependence

An empirical note on the long-run relationship between education and religiosity in Christian countries

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