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EXTERNAL DETERMINANTS OF ECONOMIC GROWTH IN DEVELOPING COUNTRIES: PANEL DATA ANALYSIS

Yıl 2014, Cilt: 36 Sayı: 1, 15 - 28, 11.03.2015

Öz

In this study, the effects of some exogenous determinants on GDP growth in
Brasil, India, China, South Africa and Turkey are analysed over the period 1970-
2011. In this context, current account, export, foreign direct investments and energy import are chosen as exogenous determinants of GDP growth. Firstly, stationary of variables are tested by using LLC and IPS panel unit root tests. Then, existence of long-term relationship between series is analyzed by using Pedroni, Kao and Jhansen Fisher panel co-integration tests. According to results of both three co-integration tests, variables are co-integrated; hence there is a long-term relationship between them.

Kaynakça

  • ADAMS, Gerard F., Yasukazu Ichino, and Peter A. Prazmowski, “Economic Growth and Energy Import Requirements: An Energy Balance Model of Thailand”, Journal of Policy Modelling, Vol: 22, Issue: 2, 2000, s. 219-254.
  • ALTUNKAYNAK, Bulent, “Sektörel Panel Veri Analizi Yaklaşımıyla Türkiye’nin AB Ülkelerine İmalat Sanayi Bakımından İhracatının Belirlenmesi”, Gazi University Unpublished Doctorate Thesis, 2007, Ankara.
  • BAI, Jushan, and Serena, N.G, “A Panic Attack on Unit Roots and Cointegration”, Econometrica, Vol: 72, Issue: 4, 2004, s. 1127-1277.
  • BALAT, Mustafa, “Energy Consumption and Economic Growth in Turkey During the Past Two Decades”, Energy Policy, Vol: 36, 2008, s. 118-127.
  • BENGOA, Marta, and Blanca, Robles-Sanchez, “Foreign Direct Investment Economic Freedom and Growth: New Evidence from Latin America”, European Journal of Political Economy, Vol: 19, 2003, s. 529-545.
  • BREITUNG, Jörg, “The Local Power of Some Unit Root Tests for Panel Data”, Advances in Econometrics, Vol: 15, Nonstationary Panels, Panel Cointegration, and Dynamic Panels, ed. B. H. Baltagi, 2000, s. 161–178. Amsterdam: JAY Press.
  • BREITUNG, Jörg, and Samarjit, Das, “Panel Unit Root Tests Under Cross Sectional Dependence”, Statistica Neerlandica, Vol: 59(4), 2005, s. 414-433.
  • CHOI, In, “Unit Roots Tests for Panel Data”, Journal of International Money and Finance, Vol: 20, 2001, s. 249–272.
  • EICHENGREEN, Barry, Rachita, Gullapalli, and Ugo, Panizza, “Capital Account Liberalization”, Development and Industry Growth: A Synthetic View, 2009, http://polis.unipmn.it/pubbl/RePEc/uca/ucapdv/panizza144.pdf. (Access Date: 05.05.2011).
  • GHOSH, Sajal, “Electricity Supply, Employment and Real GDP in India: Evidence from Cointegration and Granger-Causality Tests”, Energy Policy, Vol: 37, Issue: 8, 2009, s. 2926-2929.
  • GOURINCHAS, Pierre Olivier, and Jeanne, Olivier, “Capital Flows to Devoloping Countries: The Allocation Puzzle”, NBER Working Paper Series, No. 13602, 2007.
  • GUTIERREZ, Luciano, “Tests for Cointegration in Panels with Regime Shifts”, Econometrics, No: 0505007, 2005.
  • GUVENEK, Burcu, and Volkan, Alptekin, “Enerji Tüketimi ve Büyüme İlişkisi: OECD Ülkelerine İlişkin Bir Panel Veri Analizi”, Enerji, Piyasa ve Düzenleme, Cilt: 1, Sayı: 2, 2010, s. 172-193.
  • HADRI, Kaddour, “Estimation of a Doubly Heteroscedastic Stochastic Frontier Cost Function”, Journal of Business and Economic Statistics, Vol: 17, 1999, s. 359-363.
  • HARRIS, Richard D. F., and Ellias, Tzavalis, “Inference for Unit Roots in Dynamic Panels Where the Time Dimension is Fixed”, Journal of Econometrics, Vol: 91, 1999, s. 201–226.
  • HARRIS, Richard, and Robert, Sollis, “Applied Time Series Modelling and Forecasting”, Wiley, 2003, England.
  • PESERAN, M. Hashem, Im, Kyung So, and Shin, Yongcheol, “Testing for Unit Roots in Heterogenous Panels”, Cambridge Working Papers in Economics, No: 9526, University of Cambridge, Department of Applied Economics, 1997.
  • PESERAN, M. Hashem, Im, Kyung So, and Shin, Yongcheol, “Testing for Unit Roots in Heterogeneous Panels”, Journal of Econometrics, Vol: 115, 2003, s. 53–74.
  • KAO, Chihwa, “Spurious Regression and Residual-Based Tests for Cointegration in Panel Data”, Journal of Econometrics, Vol: 90, 1999, s. 1–44.
  • KONYA, Laszlo, “Exports and Growth: Granger Causality Analysis on OECD Countries with a Panel Data Approach”, Economic Modelling, Vol: 23, 2006, s. 978-992.
  • LARSSON, Rolf, Johan, Lyhagen, and Mickael, Lothgren, “Likelihood-Based Cointegration Tests in Heterogeneous Panels”, Econometrics Journal, Vol: 4, 2001, s. 109–142.
  • LEVIN, Andrew, Chien Fu, Lin, “Unit Root Tests in Panel Data: Asymptotic and Finite Sample Properties”, University of California, Discussion Paper No. 92-23, 1992, San Diego.
  • LEVIN, Andrew, Chien Fu, Lin, “Unit Root Tests in Panel Data: New Results”, University of California, Discussion Paper No. 93-56, 1993, San Diego.
  • LEVIN, Andrew, Chien Fu Lin, and Chia Shang James Chu, “Unit Root in Panel Data: Asymptotic and Finite-Sample Properties”, Journal of Econometrics, Vol: 108, 2002, s. 1-24.
  • LI, Xiaoying, and Xiaming, Liu, “Foreign Direct Investment and Economic Growth: An Increasingly Endogenous Relationship”, World Development, Vol: 33, No: 3, 2005, s. 393-407.
  • MADDALA, G.S., and Wu, Shaowen, “A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test”, Oxford Bulletin of Economics and Statistics, Vol: 61, No: 1, 1999, s. 631-652.
  • MARK, Nelson C., and Donggyu, Sul, “Cointegration Vector Estimation by Panel DOLS and Long-Run Money Demand”, Oxford Bulletin of Economics and Statistics, Vol: 65, No: 5, 2003, s. 655-680.
  • MCCOSKEY, Suzanne K., and Chihwa, Kao, “A Residual-Based Test of the Null of Cointegration in Panel Data”, Econometric Reviews, Vol: 17, Issue: 1, 1998, s. 57-84.
  • MOON, Roger Hyungsik, and Benoit, Perron, “Omitted Proofs of Testing for a Unit Root in Panels with Dynamic Factors”, USC Centre for Law Economics and Organization Research Paper, No. C03-10, 2003.
  • NOY, Ilan., and Tam, B. Vu, “Capital Account Liberalization and Foreign Direct Investment”, The North American Journal of Economics and Finance, Vol: 18, 2007, s.175-194.
  • OZTURK, Ilhan, Alper, Aslan, and Huseyin, Kalyoncu, “Energy Consumption and Economic Growth Relationship: Evidence from Panel Data for Low and Middle Income Countries”, Energy Policy, Vol: 38, 2010, s. 4422-4428.
  • PEDRONI, Peter, “Panel Cointegration; Asymptotic and Finite Sample Properties of Pooled Time Series Tests, with an Application to the PPP Hypothesis”, Indiana University Working Paper Series in Economics, Vol: 95, Issue: 013, 1995.
  • PEDRONI, Peter, “On the Role of Cross Sectional Dependency in Panel Unit Root and Panel Cointegration Exchange Rate Studies”, Indiana University Working Paper Series in Economics, 1998.
  • PEDRONI, Peter, “Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors”, Oxford Bulletin of Economics and Statistics, Vol: 61, 1999, s. 653–670.
  • PEDRONI, Peter, “Panel Cointegration; Asymptotic and Finite Sample Properties of Pooled Time Series Tests, with an Application to the PPP Hypothesis”, Econometric Theory, Vol: 20, 2004, s. 575–625.
  • PESARAN, M. Hashem, “A Simple Panel Unit Root Test in the Presence of Cross Section Dependence”, Cambridge Working Papers in Economics, No: 0346, 2003, s. 1-24.
  • PHILIPS, Peter C.B., and Donggyu, Sul, “Dynamic Panel Estimation and Homogeneity Testing Under Cross Section Dependence”, Econometric Journal, Vol: 6, 2003, s. 217-259.
  • SUNAL, Seckin and Elcin, Aykac, “Türk İmalat Sanayiinde İstihdam, İhracat ve Kapasite Kullanım Oranı İlişkisi: Panel Koentegrasyon”, 7. Ekonometri ve İstatistik Sempozyumu, 2005, Istanbul.
  • TSANI, Stela, Z., “Energy Consumption and Economic Growth: A Causal Analysis for Greece”, Energy Economics, Vol: 32, 2010, s. 582-590.
  • WESTERLUND, Joakim, and David, Edgerton, “Panel Cointegration Tests with Deterministic Trends and Structural Breaks”, Lund University Working Papers, No.42, 2005.
  • WORLD DATABANK, databank.worldbank.org, (Access Date: 01.05.2011).
  • WU, Yangru, “Are Real Exchange Rates Stationary? Evidence from a Panel Data Test”, Journal of Money Credit and Banking, Vol. 28, 1996, s. 54-63.

EXTERNAL DETERMINANTS OF ECONOMIC GROWTH IN DEVELOPING COUNTRIES: PANEL DATA ANALYSIS

Yıl 2014, Cilt: 36 Sayı: 1, 15 - 28, 11.03.2015

Öz

Kaynakça

  • ADAMS, Gerard F., Yasukazu Ichino, and Peter A. Prazmowski, “Economic Growth and Energy Import Requirements: An Energy Balance Model of Thailand”, Journal of Policy Modelling, Vol: 22, Issue: 2, 2000, s. 219-254.
  • ALTUNKAYNAK, Bulent, “Sektörel Panel Veri Analizi Yaklaşımıyla Türkiye’nin AB Ülkelerine İmalat Sanayi Bakımından İhracatının Belirlenmesi”, Gazi University Unpublished Doctorate Thesis, 2007, Ankara.
  • BAI, Jushan, and Serena, N.G, “A Panic Attack on Unit Roots and Cointegration”, Econometrica, Vol: 72, Issue: 4, 2004, s. 1127-1277.
  • BALAT, Mustafa, “Energy Consumption and Economic Growth in Turkey During the Past Two Decades”, Energy Policy, Vol: 36, 2008, s. 118-127.
  • BENGOA, Marta, and Blanca, Robles-Sanchez, “Foreign Direct Investment Economic Freedom and Growth: New Evidence from Latin America”, European Journal of Political Economy, Vol: 19, 2003, s. 529-545.
  • BREITUNG, Jörg, “The Local Power of Some Unit Root Tests for Panel Data”, Advances in Econometrics, Vol: 15, Nonstationary Panels, Panel Cointegration, and Dynamic Panels, ed. B. H. Baltagi, 2000, s. 161–178. Amsterdam: JAY Press.
  • BREITUNG, Jörg, and Samarjit, Das, “Panel Unit Root Tests Under Cross Sectional Dependence”, Statistica Neerlandica, Vol: 59(4), 2005, s. 414-433.
  • CHOI, In, “Unit Roots Tests for Panel Data”, Journal of International Money and Finance, Vol: 20, 2001, s. 249–272.
  • EICHENGREEN, Barry, Rachita, Gullapalli, and Ugo, Panizza, “Capital Account Liberalization”, Development and Industry Growth: A Synthetic View, 2009, http://polis.unipmn.it/pubbl/RePEc/uca/ucapdv/panizza144.pdf. (Access Date: 05.05.2011).
  • GHOSH, Sajal, “Electricity Supply, Employment and Real GDP in India: Evidence from Cointegration and Granger-Causality Tests”, Energy Policy, Vol: 37, Issue: 8, 2009, s. 2926-2929.
  • GOURINCHAS, Pierre Olivier, and Jeanne, Olivier, “Capital Flows to Devoloping Countries: The Allocation Puzzle”, NBER Working Paper Series, No. 13602, 2007.
  • GUTIERREZ, Luciano, “Tests for Cointegration in Panels with Regime Shifts”, Econometrics, No: 0505007, 2005.
  • GUVENEK, Burcu, and Volkan, Alptekin, “Enerji Tüketimi ve Büyüme İlişkisi: OECD Ülkelerine İlişkin Bir Panel Veri Analizi”, Enerji, Piyasa ve Düzenleme, Cilt: 1, Sayı: 2, 2010, s. 172-193.
  • HADRI, Kaddour, “Estimation of a Doubly Heteroscedastic Stochastic Frontier Cost Function”, Journal of Business and Economic Statistics, Vol: 17, 1999, s. 359-363.
  • HARRIS, Richard D. F., and Ellias, Tzavalis, “Inference for Unit Roots in Dynamic Panels Where the Time Dimension is Fixed”, Journal of Econometrics, Vol: 91, 1999, s. 201–226.
  • HARRIS, Richard, and Robert, Sollis, “Applied Time Series Modelling and Forecasting”, Wiley, 2003, England.
  • PESERAN, M. Hashem, Im, Kyung So, and Shin, Yongcheol, “Testing for Unit Roots in Heterogenous Panels”, Cambridge Working Papers in Economics, No: 9526, University of Cambridge, Department of Applied Economics, 1997.
  • PESERAN, M. Hashem, Im, Kyung So, and Shin, Yongcheol, “Testing for Unit Roots in Heterogeneous Panels”, Journal of Econometrics, Vol: 115, 2003, s. 53–74.
  • KAO, Chihwa, “Spurious Regression and Residual-Based Tests for Cointegration in Panel Data”, Journal of Econometrics, Vol: 90, 1999, s. 1–44.
  • KONYA, Laszlo, “Exports and Growth: Granger Causality Analysis on OECD Countries with a Panel Data Approach”, Economic Modelling, Vol: 23, 2006, s. 978-992.
  • LARSSON, Rolf, Johan, Lyhagen, and Mickael, Lothgren, “Likelihood-Based Cointegration Tests in Heterogeneous Panels”, Econometrics Journal, Vol: 4, 2001, s. 109–142.
  • LEVIN, Andrew, Chien Fu, Lin, “Unit Root Tests in Panel Data: Asymptotic and Finite Sample Properties”, University of California, Discussion Paper No. 92-23, 1992, San Diego.
  • LEVIN, Andrew, Chien Fu, Lin, “Unit Root Tests in Panel Data: New Results”, University of California, Discussion Paper No. 93-56, 1993, San Diego.
  • LEVIN, Andrew, Chien Fu Lin, and Chia Shang James Chu, “Unit Root in Panel Data: Asymptotic and Finite-Sample Properties”, Journal of Econometrics, Vol: 108, 2002, s. 1-24.
  • LI, Xiaoying, and Xiaming, Liu, “Foreign Direct Investment and Economic Growth: An Increasingly Endogenous Relationship”, World Development, Vol: 33, No: 3, 2005, s. 393-407.
  • MADDALA, G.S., and Wu, Shaowen, “A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test”, Oxford Bulletin of Economics and Statistics, Vol: 61, No: 1, 1999, s. 631-652.
  • MARK, Nelson C., and Donggyu, Sul, “Cointegration Vector Estimation by Panel DOLS and Long-Run Money Demand”, Oxford Bulletin of Economics and Statistics, Vol: 65, No: 5, 2003, s. 655-680.
  • MCCOSKEY, Suzanne K., and Chihwa, Kao, “A Residual-Based Test of the Null of Cointegration in Panel Data”, Econometric Reviews, Vol: 17, Issue: 1, 1998, s. 57-84.
  • MOON, Roger Hyungsik, and Benoit, Perron, “Omitted Proofs of Testing for a Unit Root in Panels with Dynamic Factors”, USC Centre for Law Economics and Organization Research Paper, No. C03-10, 2003.
  • NOY, Ilan., and Tam, B. Vu, “Capital Account Liberalization and Foreign Direct Investment”, The North American Journal of Economics and Finance, Vol: 18, 2007, s.175-194.
  • OZTURK, Ilhan, Alper, Aslan, and Huseyin, Kalyoncu, “Energy Consumption and Economic Growth Relationship: Evidence from Panel Data for Low and Middle Income Countries”, Energy Policy, Vol: 38, 2010, s. 4422-4428.
  • PEDRONI, Peter, “Panel Cointegration; Asymptotic and Finite Sample Properties of Pooled Time Series Tests, with an Application to the PPP Hypothesis”, Indiana University Working Paper Series in Economics, Vol: 95, Issue: 013, 1995.
  • PEDRONI, Peter, “On the Role of Cross Sectional Dependency in Panel Unit Root and Panel Cointegration Exchange Rate Studies”, Indiana University Working Paper Series in Economics, 1998.
  • PEDRONI, Peter, “Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors”, Oxford Bulletin of Economics and Statistics, Vol: 61, 1999, s. 653–670.
  • PEDRONI, Peter, “Panel Cointegration; Asymptotic and Finite Sample Properties of Pooled Time Series Tests, with an Application to the PPP Hypothesis”, Econometric Theory, Vol: 20, 2004, s. 575–625.
  • PESARAN, M. Hashem, “A Simple Panel Unit Root Test in the Presence of Cross Section Dependence”, Cambridge Working Papers in Economics, No: 0346, 2003, s. 1-24.
  • PHILIPS, Peter C.B., and Donggyu, Sul, “Dynamic Panel Estimation and Homogeneity Testing Under Cross Section Dependence”, Econometric Journal, Vol: 6, 2003, s. 217-259.
  • SUNAL, Seckin and Elcin, Aykac, “Türk İmalat Sanayiinde İstihdam, İhracat ve Kapasite Kullanım Oranı İlişkisi: Panel Koentegrasyon”, 7. Ekonometri ve İstatistik Sempozyumu, 2005, Istanbul.
  • TSANI, Stela, Z., “Energy Consumption and Economic Growth: A Causal Analysis for Greece”, Energy Economics, Vol: 32, 2010, s. 582-590.
  • WESTERLUND, Joakim, and David, Edgerton, “Panel Cointegration Tests with Deterministic Trends and Structural Breaks”, Lund University Working Papers, No.42, 2005.
  • WORLD DATABANK, databank.worldbank.org, (Access Date: 01.05.2011).
  • WU, Yangru, “Are Real Exchange Rates Stationary? Evidence from a Panel Data Test”, Journal of Money Credit and Banking, Vol. 28, 1996, s. 54-63.

EXTERNAL DETERMINANTS OF ECONOMIC GROWTH IN DEVELOPING COUNTRIES: PANEL DATA ANALYSIS

Yıl 2014, Cilt: 36 Sayı: 1, 15 - 28, 11.03.2015

Öz

In this study, the effects of some exogenous determinants on GDP growth in Brasil, India, China, South Africa and Turkey are analysed over the period 19702011. In this context, current account, export, foreign direct investments and energy import are chosen as exogenous determinants of GDP growth. Firstly, stationary of variables are tested by using LLC and IPS panel unit root tests. Then, existence of long-term relationship between series is analyzed by using Pedroni, Kao and Jhansen Fisher panel co-integration tests. According to results of both three co-integration tests, variables are co-integrated; hence there is a long-term relationship between them

Kaynakça

  • ADAMS, Gerard F., Yasukazu Ichino, and Peter A. Prazmowski, “Economic Growth and Energy Import Requirements: An Energy Balance Model of Thailand”, Journal of Policy Modelling, Vol: 22, Issue: 2, 2000, s. 219-254.
  • ALTUNKAYNAK, Bulent, “Sektörel Panel Veri Analizi Yaklaşımıyla Türkiye’nin AB Ülkelerine İmalat Sanayi Bakımından İhracatının Belirlenmesi”, Gazi University Unpublished Doctorate Thesis, 2007, Ankara.
  • BAI, Jushan, and Serena, N.G, “A Panic Attack on Unit Roots and Cointegration”, Econometrica, Vol: 72, Issue: 4, 2004, s. 1127-1277.
  • BALAT, Mustafa, “Energy Consumption and Economic Growth in Turkey During the Past Two Decades”, Energy Policy, Vol: 36, 2008, s. 118-127.
  • BENGOA, Marta, and Blanca, Robles-Sanchez, “Foreign Direct Investment Economic Freedom and Growth: New Evidence from Latin America”, European Journal of Political Economy, Vol: 19, 2003, s. 529-545.
  • BREITUNG, Jörg, “The Local Power of Some Unit Root Tests for Panel Data”, Advances in Econometrics, Vol: 15, Nonstationary Panels, Panel Cointegration, and Dynamic Panels, ed. B. H. Baltagi, 2000, s. 161–178. Amsterdam: JAY Press.
  • BREITUNG, Jörg, and Samarjit, Das, “Panel Unit Root Tests Under Cross Sectional Dependence”, Statistica Neerlandica, Vol: 59(4), 2005, s. 414-433.
  • CHOI, In, “Unit Roots Tests for Panel Data”, Journal of International Money and Finance, Vol: 20, 2001, s. 249–272.
  • EICHENGREEN, Barry, Rachita, Gullapalli, and Ugo, Panizza, “Capital Account Liberalization”, Development and Industry Growth: A Synthetic View, 2009, http://polis.unipmn.it/pubbl/RePEc/uca/ucapdv/panizza144.pdf. (Access Date: 05.05.2011).
  • GHOSH, Sajal, “Electricity Supply, Employment and Real GDP in India: Evidence from Cointegration and Granger-Causality Tests”, Energy Policy, Vol: 37, Issue: 8, 2009, s. 2926-2929.
  • GOURINCHAS, Pierre Olivier, and Jeanne, Olivier, “Capital Flows to Devoloping Countries: The Allocation Puzzle”, NBER Working Paper Series, No. 13602, 2007.
  • GUTIERREZ, Luciano, “Tests for Cointegration in Panels with Regime Shifts”, Econometrics, No: 0505007, 2005.
  • GUVENEK, Burcu, and Volkan, Alptekin, “Enerji Tüketimi ve Büyüme İlişkisi: OECD Ülkelerine İlişkin Bir Panel Veri Analizi”, Enerji, Piyasa ve Düzenleme, Cilt: 1, Sayı: 2, 2010, s. 172-193.
  • HADRI, Kaddour, “Estimation of a Doubly Heteroscedastic Stochastic Frontier Cost Function”, Journal of Business and Economic Statistics, Vol: 17, 1999, s. 359-363.
  • HARRIS, Richard D. F., and Ellias, Tzavalis, “Inference for Unit Roots in Dynamic Panels Where the Time Dimension is Fixed”, Journal of Econometrics, Vol: 91, 1999, s. 201–226.
  • HARRIS, Richard, and Robert, Sollis, “Applied Time Series Modelling and Forecasting”, Wiley, 2003, England.
  • PESERAN, M. Hashem, Im, Kyung So, and Shin, Yongcheol, “Testing for Unit Roots in Heterogenous Panels”, Cambridge Working Papers in Economics, No: 9526, University of Cambridge, Department of Applied Economics, 1997.
  • PESERAN, M. Hashem, Im, Kyung So, and Shin, Yongcheol, “Testing for Unit Roots in Heterogeneous Panels”, Journal of Econometrics, Vol: 115, 2003, s. 53–74.
  • KAO, Chihwa, “Spurious Regression and Residual-Based Tests for Cointegration in Panel Data”, Journal of Econometrics, Vol: 90, 1999, s. 1–44.
  • KONYA, Laszlo, “Exports and Growth: Granger Causality Analysis on OECD Countries with a Panel Data Approach”, Economic Modelling, Vol: 23, 2006, s. 978-992.
  • LARSSON, Rolf, Johan, Lyhagen, and Mickael, Lothgren, “Likelihood-Based Cointegration Tests in Heterogeneous Panels”, Econometrics Journal, Vol: 4, 2001, s. 109–142.
  • LEVIN, Andrew, Chien Fu, Lin, “Unit Root Tests in Panel Data: Asymptotic and Finite Sample Properties”, University of California, Discussion Paper No. 92-23, 1992, San Diego.
  • LEVIN, Andrew, Chien Fu, Lin, “Unit Root Tests in Panel Data: New Results”, University of California, Discussion Paper No. 93-56, 1993, San Diego.
  • LEVIN, Andrew, Chien Fu Lin, and Chia Shang James Chu, “Unit Root in Panel Data: Asymptotic and Finite-Sample Properties”, Journal of Econometrics, Vol: 108, 2002, s. 1-24.
  • LI, Xiaoying, and Xiaming, Liu, “Foreign Direct Investment and Economic Growth: An Increasingly Endogenous Relationship”, World Development, Vol: 33, No: 3, 2005, s. 393-407.
  • MADDALA, G.S., and Wu, Shaowen, “A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test”, Oxford Bulletin of Economics and Statistics, Vol: 61, No: 1, 1999, s. 631-652.
  • MARK, Nelson C., and Donggyu, Sul, “Cointegration Vector Estimation by Panel DOLS and Long-Run Money Demand”, Oxford Bulletin of Economics and Statistics, Vol: 65, No: 5, 2003, s. 655-680.
  • MCCOSKEY, Suzanne K., and Chihwa, Kao, “A Residual-Based Test of the Null of Cointegration in Panel Data”, Econometric Reviews, Vol: 17, Issue: 1, 1998, s. 57-84.
  • MOON, Roger Hyungsik, and Benoit, Perron, “Omitted Proofs of Testing for a Unit Root in Panels with Dynamic Factors”, USC Centre for Law Economics and Organization Research Paper, No. C03-10, 2003.
  • NOY, Ilan., and Tam, B. Vu, “Capital Account Liberalization and Foreign Direct Investment”, The North American Journal of Economics and Finance, Vol: 18, 2007, s.175-194.
  • OZTURK, Ilhan, Alper, Aslan, and Huseyin, Kalyoncu, “Energy Consumption and Economic Growth Relationship: Evidence from Panel Data for Low and Middle Income Countries”, Energy Policy, Vol: 38, 2010, s. 4422-4428.
  • PEDRONI, Peter, “Panel Cointegration; Asymptotic and Finite Sample Properties of Pooled Time Series Tests, with an Application to the PPP Hypothesis”, Indiana University Working Paper Series in Economics, Vol: 95, Issue: 013, 1995.
  • PEDRONI, Peter, “On the Role of Cross Sectional Dependency in Panel Unit Root and Panel Cointegration Exchange Rate Studies”, Indiana University Working Paper Series in Economics, 1998.
  • PEDRONI, Peter, “Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors”, Oxford Bulletin of Economics and Statistics, Vol: 61, 1999, s. 653–670.
  • PEDRONI, Peter, “Panel Cointegration; Asymptotic and Finite Sample Properties of Pooled Time Series Tests, with an Application to the PPP Hypothesis”, Econometric Theory, Vol: 20, 2004, s. 575–625.
  • PESARAN, M. Hashem, “A Simple Panel Unit Root Test in the Presence of Cross Section Dependence”, Cambridge Working Papers in Economics, No: 0346, 2003, s. 1-24.
  • PHILIPS, Peter C.B., and Donggyu, Sul, “Dynamic Panel Estimation and Homogeneity Testing Under Cross Section Dependence”, Econometric Journal, Vol: 6, 2003, s. 217-259.
  • SUNAL, Seckin and Elcin, Aykac, “Türk İmalat Sanayiinde İstihdam, İhracat ve Kapasite Kullanım Oranı İlişkisi: Panel Koentegrasyon”, 7. Ekonometri ve İstatistik Sempozyumu, 2005, Istanbul.
  • TSANI, Stela, Z., “Energy Consumption and Economic Growth: A Causal Analysis for Greece”, Energy Economics, Vol: 32, 2010, s. 582-590.
  • WESTERLUND, Joakim, and David, Edgerton, “Panel Cointegration Tests with Deterministic Trends and Structural Breaks”, Lund University Working Papers, No.42, 2005.
  • WORLD DATABANK, databank.worldbank.org, (Access Date: 01.05.2011).
  • WU, Yangru, “Are Real Exchange Rates Stationary? Evidence from a Panel Data Test”, Journal of Money Credit and Banking, Vol. 28, 1996, s. 54-63.
Toplam 42 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Bölüm Makaleler
Yazarlar

Ali Şen

Mehmet Şentürk

Gökçen Özkan Bu kişi benim

Engin Ducan

Yayımlanma Tarihi 11 Mart 2015
Gönderilme Tarihi 11 Mart 2015
Yayımlandığı Sayı Yıl 2014 Cilt: 36 Sayı: 1

Kaynak Göster

APA Şen, A., Şentürk, M., Özkan, G., Ducan, E. (2015). EXTERNAL DETERMINANTS OF ECONOMIC GROWTH IN DEVELOPING COUNTRIES: PANEL DATA ANALYSIS. Marmara Üniversitesi İktisadi Ve İdari Bilimler Dergisi, 36(1), 15-28.
AMA Şen A, Şentürk M, Özkan G, Ducan E. EXTERNAL DETERMINANTS OF ECONOMIC GROWTH IN DEVELOPING COUNTRIES: PANEL DATA ANALYSIS. Marmara Üniversitesi İktisadi ve İdari Bilimler Dergisi. Mart 2015;36(1):15-28.
Chicago Şen, Ali, Mehmet Şentürk, Gökçen Özkan, ve Engin Ducan. “EXTERNAL DETERMINANTS OF ECONOMIC GROWTH IN DEVELOPING COUNTRIES: PANEL DATA ANALYSIS”. Marmara Üniversitesi İktisadi Ve İdari Bilimler Dergisi 36, sy. 1 (Mart 2015): 15-28.
EndNote Şen A, Şentürk M, Özkan G, Ducan E (01 Mart 2015) EXTERNAL DETERMINANTS OF ECONOMIC GROWTH IN DEVELOPING COUNTRIES: PANEL DATA ANALYSIS. Marmara Üniversitesi İktisadi ve İdari Bilimler Dergisi 36 1 15–28.
IEEE A. Şen, M. Şentürk, G. Özkan, ve E. Ducan, “EXTERNAL DETERMINANTS OF ECONOMIC GROWTH IN DEVELOPING COUNTRIES: PANEL DATA ANALYSIS”, Marmara Üniversitesi İktisadi ve İdari Bilimler Dergisi, c. 36, sy. 1, ss. 15–28, 2015.
ISNAD Şen, Ali vd. “EXTERNAL DETERMINANTS OF ECONOMIC GROWTH IN DEVELOPING COUNTRIES: PANEL DATA ANALYSIS”. Marmara Üniversitesi İktisadi ve İdari Bilimler Dergisi 36/1 (Mart 2015), 15-28.
JAMA Şen A, Şentürk M, Özkan G, Ducan E. EXTERNAL DETERMINANTS OF ECONOMIC GROWTH IN DEVELOPING COUNTRIES: PANEL DATA ANALYSIS. Marmara Üniversitesi İktisadi ve İdari Bilimler Dergisi. 2015;36:15–28.
MLA Şen, Ali vd. “EXTERNAL DETERMINANTS OF ECONOMIC GROWTH IN DEVELOPING COUNTRIES: PANEL DATA ANALYSIS”. Marmara Üniversitesi İktisadi Ve İdari Bilimler Dergisi, c. 36, sy. 1, 2015, ss. 15-28.
Vancouver Şen A, Şentürk M, Özkan G, Ducan E. EXTERNAL DETERMINANTS OF ECONOMIC GROWTH IN DEVELOPING COUNTRIES: PANEL DATA ANALYSIS. Marmara Üniversitesi İktisadi ve İdari Bilimler Dergisi. 2015;36(1):15-28.