The purpose of this study is to examine equilibrium relationships and dynamic causality between economic growth (measured as GDP), exports, imports in Jordan using time-series data 1976 2021. In particular, research attempts determine exports-led growth, imports-led growth-led both the short-run long-run. four datasets, GDP, merchandise imports, gross capital formation, were examined Dickey–Ful...

This paper examines the determinants of international capital inflows into Malaysia in the forms of pull and push factors. The results from Johansen and Juselius cointegration test confirmed the existence of a long run stable equilibrium among the variables in the model. In addition, the Error Correction Model (ECM) has been utilized to detect the long run divergence from the equilibrium relati...

this study attempts to investigate the effect of oil returns and external debt on the government expenditure in syria over the period 1970-2010. the johansen cointegration test showed that oil returns and external debt have a positive and significant long run relationship with government expenditure. the granger causality test indicates unidirectional short-run causality relationships running f...

This paper divulges the long term relationship among earning, investment and dividends from 2000 to 2011. Empirical evidence was collected to explore the Modigliani and miller theory of dividend irrelevance. Data was collected from all the sectors but it was ensured that firms did not have negative data of earnings as it is earnings which are either transformed into investment or dividends. Mul...

This study primarily focuses on the analysis of contributions foreign exchange reserve to economic growth Nepal by using time series data obtained from year 1975 2018 A.D. In order assess a relationship between these variables, statistical procedure unit root test, cointegration and Vector Error Correction Model (VECM) are applied. addition t-statistics, Wald-test for joint significance coeffic...

• Macroeconomic background – Sims (1980) – Stock and Watson (1988) • Vector Autoregressions 1. Stationarity vs. nonstationarity 2. Structural models 3. Dynamic experiments 4. Estimation – Lütkepohl (1991), chapter 2 – Hamilton (1994), chapter 11 – Sims (1980) – Cooley and LeRoy (1985) – Runkle (1987) • Cointegration and Common Trends – Johansen and Juselius (1990) – King, Plosser, Stock, and Wa...

For an enterprise, profitability is the specific performance of business results in each link, one important indicators, and most direct response to its ability make profits. Lenovo Group has been on Fortune 500 list continuously, with total income increasing ranking rising, but profit not maintained growth all time. Using descriptive statistics, correlation analysis, Unit root test, Johansen C...

The objective of this paper is to examine the long-run Purchasing Power Parity hypothesis in a dynamic panel of twenty OECD countries, using recently developed heterogeneous panel cointegration tests that have not been previously applied to PPP. Another contribution is that we investigate the symmetry and proportionality conditions in PPP using likelihood-based inference as suggested by Johanse...

In this paper I analyse the effects of ignoring level shifts in the data generating process (DGP) on systems cointegration tests that do not accommodate level shifts. I consider two groups of Likelihood Ratio tests based on procedures suggested by Johansen (1988, 1995) and Saikkonen & Lütkepohl (2000b). The Monte Carlo analysis reveals that ignoring level shifts reduces the tests’ sizes to zero...

This study investigates the long-run equilibrium relationship between Suisse stock market (SSM) prices and a set of macroeconomic variables (inflation, interest rate, exchange rate) using Monthly data for period 1999:1 to 2018:4. Different specifications tests will be carried out, namely unit root (ADF PP), Vector Auto Regression (VAR) select optimal lag length Granger causality Toda Yamamoto (...