The long‐run impact of idiosyncratic and common shocks on industry output in<scp>G</scp>hana

Adom, Philip Kofi; Amakye, Kwaku; Barnor, Charles; Quartey, George

doi:10.1111/opec.12039

Cited by 24 publications

(27 citation statements)

References 61 publications

(74 reference statements)

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“…Park (1992) introduced another method named CCR to estimate the cointegrating vectors in the model. Different with FMOLS, CCR only focusses on data transformation while FMOLS focuses on both data and parameters transformation (Adom, Amakye, Barnor, & Quartey, 2015). CCR can apply multivariate regression without modification and losing the efficiency (Park, 1992).…”

Section: Data and Empirical Resultsmentioning

confidence: 99%

The Impacts of Monetary and Fiscal Policies on Economic Growth in Malaysia, Singapore and Thailand

Tan

Azali

Habibullah

et al. 2020

South Asian Journal of Macroeconomics and Public Finance

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This article analyses the impact of monetary and fiscal policies on economic growth in Malaysia, Singapore and Thailand from 1980:Q1 to 2017:Q1. Autoregressive distributed lag (ARDL) approach is employed to determine the long-run relationship. Further, a range of econometric models, such as fully modified least squares method (FMOLS), canonical cointegration regression (CCR) and dynamic ordinary least squares method (DOLS), are applied to check the robustness. The results are stable and robust as all the models yield consistency result. The main findings in this study demonstrate that: (a) interest rate had a negative impact on economic growth in three selected countries. (b) Government spending had a negative impact on economic growth in Malaysia and Singapore, but had a positive impact in Thailand. (c) Monetary policy is more effective in Malaysia and Singapore, while fiscal policy is more effective in Thailand. JEL Classification: E52, E58, E62, C01

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Section: Data and Empirical Resultsmentioning

confidence: 99%

The Impacts of Monetary and Fiscal Policies on Economic Growth in Malaysia, Singapore and Thailand

Tan

Azali

Habibullah

et al. 2020

South Asian Journal of Macroeconomics and Public Finance

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“…A re‐estimation of the model is done employing FMOLS developed by Phillips and Hansen (1990), and DOLS developed by Stock and Watson (1993) to find the robustness of the estimates. The FMOLS uses a semi‐parametric approach in estimating the long‐run parameters (Adom et al, 2015; Priyankara, 2018). FMOLS yields consistent parameters even when the sample is small.…”

Section: Methodsmentioning

confidence: 99%

Impact of foreign direct investment on the agricultural sector in Nigeria (1981–2017)

Edeh

Eze

Ugwuanyi

2020

African Development Review

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The study investigates the impact of foreign direct investment on the agriculture sector in Nigeria using quarterly time series data for the period 1981-2017 obtained from the Central Bank of Nigeria Statistical Bulletin. Preliminary tests on the time series data were done using the pairwise correlation test, Augmented Dickey-Fuller and Phillips-Perron unit root tests. The results of the Bounds test and Johansen test indicate the presence of cointegration in the model. The A utoregressive Distributed Lagged (ARDL) model, Fully Modified Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) were used to estimate the parameter estimates of the regression model. Results indicate that foreign direct investment has a positive and significant impact on agricultural sector output. Specifically, the ARDL result shows the impact of foreign direct investment to be more in the short run (0.0024 < 0.05) than in the long run (0.0000 < 0.05). Also, deregulation of the economy has a significant impact on agricultural output over the period under study. The study recommends an increase in tax holidays (from the present 3 years to at least 6 years) to prospective foreign direct investors. There is a need to provide for a short-and medium-term framework that will address increased and emergency funding of the agricultural sector by the government in Nigeria.

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“…+ and ̂1 2 + are the correction terms for endogeneity and series correlation, respectively. The FMOLS estimator is asymptotically neutral and has an asymptotically normal distribution (Adom et al, 2015).…”

Section: Estimation For Long-run Relationshipmentioning

confidence: 99%

The Relationship between the Exchange Rate, Interest Rate and Inflation: The Case of Turkey

Özen

Özdemir

Grima

2020

SAEB

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The purpose of the study is to measure the effects of changes in exchange rates and interest rates on inflation and to determine which of the exchange rates or interest rates has a greater impact on inflation rate following the July 15, 2016 coup attempt in Turkey. Our expectation is that similar to most authors is to find that there is a long-term relationship between the inflation rates and both the exchange rate and interest rates and that the effect of the exchange rate on the Producer Price Index (PPI) is greater than that of the interest rates. Moreover, we expect to find a unidirectional causality relationship between the Interest Rate of Commercial Banks Credit (IRBC), Over Night Interest Rate (O/N) and United States Dollar (USD) and the PPI, but not between the IRBC, O/N, USD and the Consumer Price Index (CPI).

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The long‐run impact of idiosyncratic and common shocks on industry output inGhana

Cited by 24 publications

References 61 publications

The Impacts of Monetary and Fiscal Policies on Economic Growth in Malaysia, Singapore and Thailand

The Impacts of Monetary and Fiscal Policies on Economic Growth in Malaysia, Singapore and Thailand

Impact of foreign direct investment on the agricultural sector in Nigeria (1981–2017)

The Relationship between the Exchange Rate, Interest Rate and Inflation: The Case of Turkey

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