Social security expenditures and economic growth: A heterogeneous panel application

Fiscal Policy, Institutions, and Economic Growth in Asian Countries: Evidence from Pedroni’s Cointegration Approach

“…The presence of unit root in the variables also indicated that all the independent variables lnGE, lnOFV, lnINS, lnS k , ln(n+g+δ), ln(GE*INS), ln(OFV*INS), and dependent variables (lnrgdpc) are in fact integrated of order one, or are I(1) processed when the individual country data were pooled together. The findings of a unit root on the variables in this study are consistent with the results of a number of previous studies, such as Campbell and Perron (1991), McCoskey and Selden (1998), Macdonald and Nagayasu (2000), Lee and Chang (2006), and Al-Awad and Harb (2005). The number in { } denote lag length, the lag length was chosen on the basis of Akaike's Information Criteria (AIC) where we specified maximum lag order (k) in autoregression and then we selected appropriate lag order according to AIC.…”

Long-Run Relationship Between Fiscal Policy and Economic Growth in Asia: Evidence Using Pedroni’s Cointegration Approach

“…The presence of unit root in the variablesalso indicated that all the independent variables (ln he, ln ee, ln de, ln dt, ln bb ,) [ln GE, ln OFV, ln s k , ln(n+g+d),] and dependent variables ln rgdpc) are in fact integrated of order one or are I(1) processed when the individual country data were pooled together. The findings of a unit root on the variables in this study were consistent with the results of a number of previous studies such as Campbell and Perron (1991), McCoskey and Selden (1998), MacDonald and Nagayasu (2000), Lee and Chang (2006), and Al- Awad and Harb (2005). Given the results of LLC, IPS, and Mw tests, it is possible to apply panel cointegration methodology in order to test for the existence of the stable long-run relation among the variables.…”

Has Health Capital Formation Cured 'Baumol's Disease'? Panel Granger Causality Evidence for OECD Countries

“…For instance, there are papers that focus on 'investment and growth' (Attanasio, Picci andScorcu, 2000, Podrecca andCarmeci, 2001) or, more narrowly, on 'foreign direct investment and growth' (Nair-Reichert and Weinhold, 2001, Laaksonen-Craig, 2004, Hsiao and Hsiao, 2006. The panel Granger causality approach has also been used to study the relationship between exports and growth (Chao andBuongiorno, 2002, Kόnya, 2006), agriculture and growth (Tiffin and Irz, 2006), social security and growth (Lee and Chang, 2006) and financial development and growth (Hurlin and Venet, 2004, Miyakoshi and Tsukuda, 2004, Al-Awad and Harb, 2005. As far as I see, the present paper is the first to apply the panel Granger causality methodology to the field of 'health and growth'.…”