A simple nonstationary-volatility robust panel unit root test

Demetrescu, Matei; Hanck, Christoph

doi:10.1016/j.econlet.2012.04.067

Cited by 32 publications

(32 citation statements)

References 11 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Panel unit root tests indicated with 'LLC' , 'BD' , 'HS' and 'DH' refer to Levin, Lin and Chu (2002), Breitung and Das (2005), Herwartz and Siedenburg (2008) and Demetrescu and Hanck (2012), respectively. Among these tests 'HS' and 'DH' have been shown to be robust to time varying covariances under suitable conditions.…”

Section: Panel Unit Root and Cointegration Testsmentioning

confidence: 99%

Ideology and redistribution through public spending

Herwartz

Theilen

2017

European Journal of Political Economy

View full text Add to dashboard Cite

For a panel of OECD economies (1980OECD economies ( -2013 we analyse the scope of government ideology to shape patterns of public expenditures. To address if public expenditures are used to channel redistributive outcomes, we adopt a flexible panel error correction model and proceed in two steps: Firstly, we analyse if ideological positions matter for the sizing of the public sector. Secondly, we address the actual impact of government ideology on two disjoint categories of public expenditure that are characterized by distinguished redistributive effects. Under both, left-wing and right-wing governments, public spending shows progressively redistributive effects which are indirectly channelled through their policy response to changing macroeconomic, fiscal and demographic fundamentals. While right-wing governments act progressively redistributive under favourable socio-economic conditions, their left-wing counterparts do so under unfavourable conditions. Comparing the two effects in terms of their explanatory content, the latter is found stronger than the former.JEL classification: H53, H87, I18, D72, F13, F60, C22, C23

show abstract

Section: Panel Unit Root and Cointegration Testsmentioning

confidence: 99%

Ideology and redistribution through public spending

Herwartz

Theilen

2017

European Journal of Political Economy

View full text Add to dashboard Cite

show abstract

“…show that the proposed test works well in finite samples, and has satisfactory power which is comparable with the power of the tests in Herwartz and Siedenburg (2008) and Demetrescu and Hanck (2012a) under homoskedasticity.…”

Section: Introductionmentioning

confidence: 51%

“…In this section, we study the order of integration of energy use per capita using the heteroskedasticity-robust test suggested in this paper,τ , vis-a-vis heteroskedasticityrobust tests of Herwartz and Siedenburg (2008) and Demetrescu and Hanck (2012a indigenous production plus imports and stock changes, minus exports and fuels supplied to ships and aircraft engaged in international transport." The study covers 23 OECD economies that are selected according to data availability, from 1960 to 2014.…”

Section: Panel Unit Root Test Resultsmentioning

confidence: 99%

“…Next, we present the White-type heteroskedasticity-robust PURTs suggested in Herwartz and Siedenburg (2008) and Demetrescu and Hanck (2012a).…”

Section: Homogeneous Panel Unit Root Testingmentioning

confidence: 99%

“…As the sign function of Cauchy instrumenting reduces the lagged level series to -1 and 1-irrespective of the underlying time varying volatility-these tests are argued to be robust to heteroskedasticity. Herwartz et al (2016) show that the non-Cauchy version of the test in Demetrescu and Hanck (2012a), which was initially proposed in Herwartz and Siedenburg (2008), is robust to volatility shifts. Another heteroskedasticity-robust PURT has been suggested by Westerlund (2014).…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Heteroskedasticity-Robust Unit Root Testing for Trending Panels

2017

View full text Add to dashboard Cite

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. Simulation results reveal that the test tends to be conservative but shows remarkable power in finite samples. Terms of use: Documents in EconStor mayJEL Classification: C23, C12, Q40.

show abstract

Political economy of Islamic banking growth: Does political regime and institutions, governance and political risks matter?

Asutay

Sidek

2020

Int. J Fin Econ

View full text Add to dashboard Cite

This article explores the political economy of Islamic banking by examining the impact of political regime types, institutional environment, government and political risk on the development of Islamic banking proxied by financing or loan growth in the case of 16 Muslims majority countries with autocratic and democratic regimes over the period of 2000–2013. The performance of Islamic banking loan growth is examined from three different perspectives—political regime and institutions, governance and political risks in both regime settings. Results suggest that loan growth is positive and significant in democratic regimes where political and civil rights are predominant. In addition, loan growths are slower during election years but higher throughout pre‐election year in democratic regimes, suggesting the opportunistic behaviour of incumbent government artificially boosting the economy in preparation for the upcoming election. It is also found that the good quality of public services, policy formulation and implementation, and credibility of government's commitment to realizing the policies are vital in ensuring positive loan growth. The lack of differences in the reaction of loan growth to the governance in democratic and autocratic regimes shows some convergence in the regimes despite having significantly different political perspective. This implies that political commitment of the ruling government is vital to set forth a strong and robust Islamic banking standing regardless of its political standpoint.

show abstract

A simple nonstationary-volatility robust panel unit root test

Cited by 32 publications

References 11 publications

Ideology and redistribution through public spending

Ideology and redistribution through public spending

Heteroskedasticity-Robust Unit Root Testing for Trending Panels

Political economy of Islamic banking growth: Does political regime and institutions, governance and political risks matter?

Contact Info

Product

Resources

About