Temat: NARDL - Prolib Integro

Skocz do pozycji: 1.

Tytuł:: Energy consumption and economic growth linkage: Global evidence from symmetric and asymmetric simulations
Autorzy:: Ali, Wajid
Nathaniel, Solomon Prince
Adekunle, Ibrahim Ayodaye
Kumar, Bezon
Tematy:: energy consumption
economic growth
NARDL
co-integration; Pokaż więcej
Wydawca:: Uniwersytet im. Adama Mickiewicza w Poznaniu
Powiązania:: https://bibliotekanauki.pl/articles/15803490.pdf Link otwiera się w nowym oknie
Opis:: The literature reveals that linear models do not accurately represent the asymmetric relationship between economic growth and energy consumption (EC). To fill this gap, we examined the asymmetric relationship between EC and economic growth in a non-linear panel autoregressive distributed lag (ARDL) framework of 85 countries as a whole sample and of Brazil, Russia, India, China, and South Africa (BRICS), the Next Eleven, Big Four in Western Europe, Asia-Pacific region, Group of Seven, South Asian Association for Regional Cooperation (SAARC), Economic Cooperation Organization (ECO) and the Arab League as a sub-sample analysis from 1977 to 2014. A second generational unit root test has been applied to check the problem of cross-sectional dependency. Asymmetric contegration was employed to analyse the co-integration between the variables of interest. Long-run and short-run estimates have been calculated using the non-linear panel ARDL method. Results indicate that positive shocks to energy use tend to have a growth-enhancing effect in ECO and the Next Eleven while in the rest of the regions, the effect is growth con- traction. Moreover, economic recovery from a positive shock to energy use is the case in the Arab League, Asia-Pacific region, Group of Seven and in the whole sample. However, a negative shock to EC is observed in the Group of Seven, Asia Pacific region, Big Four in Western Europe and ECO, and the whole sample worsens the economic contraction. We can deduct from this study’s results that information on the asymmetric relationship between the subject variables is needed to design sound economic policy decisions across different economic regions.
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 2.

Tytuł:: Asymmetric Response to Oil Price and Dynamic Covariation between Exchange Rate and Stock Price: Evidence from China
Autorzy:: Ahmed, Nazeer
Dingchou, Ma
Onodje, Patrick
Tematy:: Asymmetric Effects
MGARCH
NARDL
Spillover effects
Structural Breaks; Pokaż więcej
Wydawca:: Przedsiębiorstwo Wydawnictw Naukowych Darwin / Scientific Publishing House DARWIN
Powiązania:: https://bibliotekanauki.pl/articles/1193400.pdf Link otwiera się w nowym oknie
Opis:: This paper's purpose is to test for asymmetry in the effect of oil price on China's exchange rate and stock price in the presence of structural breaks. It also sought to examine if dynamic covariation and volatility spillover exists between the exchange rate and stock price. We utilized weekly time series data on Brent and WTI prices, the USD-RMB exchange rate, and Shanghai composite index ranging from 2005-07-19 to 2020-09-22. We applied the Nonlinear ARDL for asymmetry tests and the BEKK-GARCH and DCC-GARCH for volatility spilloever analysis. Our methodology also accounts for possible breaks in the time paths of exchange rate and stock price that are likely to influence cointegration. The results show that oil price has asymmetric effects on exchange rate in the long-run only and on stock price in the short-run only. We also find that oil price cointegrates significantly with exchange rate and stock price only when structural breaks in the data are accounted for. The multivariate GARCH analyses provide no evidence of spillovers between exchange rate and stock prices but the DCC estimates showed evidence of dynamic correlation between both. Although several other studies have researched the nexus among the three variables for China, none, to the best of our knowledge, has explicitly tested for short-run and long-run asymmetries in the effect of oil price on exchange rate and stock market jointly. The paper's main contribution is the evaluation of asymmetry in oil price's effects on both markets vis-à-vis the theory while accounting for structural breaks.
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 3.

Tytuł:: Modelling the asymmetric relationship between energy and CO2 emissions in the Visegrad group: empirical evidence from a panel NARDL approach
Autorzy:: Suproń, Błażej
Tematy:: renewable energy
non-renewable energy
CO2 emissions
growth
NARDL panel; Pokaż więcej
Wydawca:: Główny Urząd Statystyczny
Powiązania:: https://bibliotekanauki.pl/articles/63513714.pdf Link otwiera się w nowym oknie
Opis:: The study aims to understand the impact of renewable energy consumption, non-renewable energy consumption, and economic growth on carbon dioxide (CO2) emissions per capita (measured in metric tonnes) in the Visegrad countries between 1991 and 2021. Using a Nonlinear Autoregressive Distributed Lag (NARDL) model for panel data, the research captures both long-term dependencies and short-term dynamics. The results show that a reduction in CO2 emissions yielded by a significant long-term decrease in non-renewable energy consumption is proportionally larger than the increase in the emissions caused by the growth in the consumption of such energy. What is more, GDP growth in the V4 countries increases CO2 emissions, but GDP decline contributes significantly more to the reduction in emissions. In contrast, renewable energy consumption consistently reduces CO2 emissions over the long term, with no significant asymmetry detected. In the short term, both economic growth and non-renewable energy consumption increase CO2 emissions. The error correction factor suggests a rapid adjustment of CO2 emissions towards a longterm equilibrium, with a decreasing trend over time. These results have some policy implications, i.e. they suggest that for the V4 countries, increasing investment in technologies and solutions that improve energy efficiency will be crucial for reducing nonrenewable energy consumption and, consequently, CO2 emissions, without negatively impacting economic growth. Additionally, stable and long-term promotion of renewable energy should be a policy priority in order to effectively contribute to emission reductions.
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 4.

Tytuł:: Asymmetric Impact of Different Types of Road Trans-Port on Economic Growth in The Visegrad Group Countries: an Empirical Analysis of The Nardl Frame-Work
Asymetryczny wpływ różnych rodzajów transportu drogowego na wzrost gospodarczy w krajach wyszehradzkich: analiza empiryczna przy wykorzystaniu modelu NARDL
Autorzy:: Suproń, Błażej
Tematy:: road transport
economic growth
NARDL
asymmetric effects
Toda-Yamamoto
causality
transport drogowy
wzrost gospodarczy
efekty asymetryczne
przyczynowość; Pokaż więcej
Wydawca:: Uniwersytet Gdański. Wydział Ekonomiczny
Powiązania:: https://bibliotekanauki.pl/articles/35111165.pdf Link otwiera się w nowym oknie
Opis:: The contemporary economy depends on an effective transportation system, and road haulage assumes a crucial function in fostering dynamic economic growth and commerce. This article aims to investigate the influence of various road transportation modes on economic growth in the Visegrad countries. In this study, the nonlinear autoregressive distributed lag (NARDL) model was employed to scrutinize the asymmetrical impact of various transport modes on GDP. We used quarterly data from 2004–2021 for the Visegrad countries. In addition, a Toda-Yamamoto test was performed to establish causality between variables. The study found evidence of differing impacts of transport modes on economic growth in the examined countries. Specifically, international, and cross-trade transport had a balanced effect on GDP growth, whereas cabotage and domestic transport had an imbalanced impact. The Toda-Yamamoto method's causality analysis results demonstrate bidirectional causality between freight work and GDP in both international and domestic transportation for the Czech Republic, Poland, and Poland's cross-trade. On the other hand, unidirectional causality was established for cross-trade in Hungary, Slovakia, and the Czech Republic. Based on the conducted estimation, it was deduced that the impact of specific transport modes on economic growth is uneven and reliant on both the transport mode and the country. The significant results obtained hold critical implications for economic policy, enabling the adaptation of strategies and regulations to foster growth based on variances in the influence of road transportation on the economy.
Współczesna gospodarka polega na efektywnej infrastrukturze transportowej, a transport drogowy towarów odgrywa kluczową rolę w dynamicznym wzroście gospodarczym i handlu. Celem artykułu było zbadanie wpływu poszczególnych rodzajów transportu drogowego na wzrost gospodarczy w krajach Grupy Wyszehradzkiej. W artykule zastosowano model nieliniowego autoregresyjnego rozproszonego opóźnienia (NARDL), aby zbadać asymetryczne oddziaływanie różnych rodzajów transportu na PKB. Badanie wykorzystuje dane kwartalne z lat 2004-2021. Dodatkowo w celu potwierdzenia uzyskanych obserwacji przeprowadzono badanie przyczynowości pomiędzy zmiennymi przy pomocy metody Toda-Yamamoto. Uzyskane wyniki wykazały, że istnieje zarówno symetryczny, jak i asymetryczny wpływ poszczególnych rodzajów transportu na wzrost gospodarczy w badanych krajach. Przewozy międzynarodowe i cross-trade oddziałują symetrycznie na wzrost PKB, natomiast przewozy kabotażowe i krajowe oddziałują asymetrycznie. Wyniki analizy przyczynowości opartej na metodzie Toda-Yamamoto wskazały dwukierunkową przyczynowość pomiędzy pracą przewozową a PKB w transporcie międzynarodowym i krajowym dla Czech i Polski, a także przewozami typu cross-trade dla Polski. Przyczynowość jednokierunkowa została potwierdzona dla przewozów cross-trade w przypadku Czech, Węgier i Słowacji. Na podstawie przeprowadzonej estymacji stwierdzono, że wpływ poszczególnych rodzajów transportu na wzrost gospodarczy jest asymetryczny i zależy od rodzaju przewozów oraz aspektów regionalnych Osiągnięte wyniki mają istotne implikacje dla polityki gospodarczej, umożliwiając dostosowywanie strategii i przepisów w celu wspierania wzrostu gospodarczego na podstawie różnic w oddziaływaniu transportu drogowego na gospodarkę.
Dostawca treści:: Biblioteka Nauki

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