Dinamik En Küçük Kareler (DOLS) yöntemleri BSH'nin geçerliliğini hem panel bazında hem de tüm ülkeler için %1 önem seviyesinde ispatlamaktadır. FMOLS ve DOLS yöntemlerine göre göreceli verimlilik endeksinde meydana gelen 1 birimlik bir artış, uzun dönemde, reel efektif döviz kurunda yaklaşık 0.96 birimlik bir artış meydana getirmektedir.
The Feldstein-Horioka puzzle express despite increased capital mobility in the World, strong relationship between domestic savings and domestic investments. This study aims to investigate validity of the Feldstein-Horioka puzzle for 28 OECD countries using annual data in period of 1980-2015. In accordance with this purpose, the relationship between domestic savings and domestic investments has been investigated by cross-section dependency tests, unit root tests and cointegration tests. The findings can be summarized as follows: Three different cross-section dependency tests have shown that the variables are cross-section dependence across countries; CADF, CIPS and Panic Attack unit root tests show that the variables have unit root in the level values and they are stationary in the first differences; Long run relationships between variables were investigated by the Durbin-Hausman cointegration test and the LM Bootstrap cointegration test, and the cointegration among these varaible was strongly rejected. This finding indicates that the Feldstein-Horioka puzzle is not valid in the 28 OECD countries for the period of 1980-2015, and that domestic investments in these countries are financed by international capital markets.
The convergence hypothesis proposed by Solow (1956), indicates that low-income countries will catch up high-income countries in terms of per capita income, growing faster than high-income countries in the long run. This study aims to investigate whether or not Turkey converges to European Union (EU) with the participation of Customs Union. In accordance with this purpose, using annual data 1923-2008 and the sample period divided into three sub-periods which are prior to participation of Customs Union, after participation of Customs Union and covering for both, convergence analysis was performed by using "Seemingly Unrelated Regression Augmented Dickey Fuller-SURADF" unit root test and "Cross-Section Augmented Dickey Fuller-CADF" unit root test. CADF unit root test proves that Turkey converges to EU for each three sub-periods.
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
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.