Mean-reverting behavior of current account in Asian countries

被引：22

作者：

Lau, E ^{[1
]}

Baharumshah, AZ ^{[1
]}

机构：

[1] Univ Putra Malaysia, Fac Econ & Management, Dept Econ, Serdang 43400, Malaysia

来源：

ECONOMICS LETTERS | 2005年 / 87卷 / 03期

关键词：

series specific panel unit root test; mean-reverting; Current account;

D O I：

10.1016/j.econlet.2005.01.006

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper adopted the series specific panel unit root test of Breuer et al. [Oxford Bulletin of Economics and Statistics 64 (2002, SURADF) 527-546] to test for the mean-reverting behavior of current account for the panel of twelve Asian countries. The results illustrate that the current accounts in these countries are a mixture of 1(0) and I(1) process and the commonly used panel root tests could lead to misleading inferences. (c) 2005 Elsevier B.V. All rights reserved.

引用

页码：367 / 371

页数：5

共 13 条

[1]

Baharumshah A. Z., 2003, Journal of Asian Economics, V14, P465

[2] Interest rates, exchange rates and present value models of the current account [J].

Bergin, PR ;

Sheffrin, SM .

ECONOMIC JOURNAL, 2000, 110 (463) :535-558

[3]

Breitung J, 2000, ADV ECONOMETRICS, V15, P161

[4] Series-specific unit root tests with panel data [J].

Breuer, JB ;

McNown, R ;

Wallace, M .

OXFORD BULLETIN OF ECONOMICS AND STATISTICS, 2002, 64 (05) :527-546

[5]

Breuer JB., 2001, Review of International Economics, V9, P482, DOI [10.1111/1467-9396.00294, DOI 10.1111/1467-9396.00294]

[6] INTERNATIONAL CAPITAL MOBILITY AMONGST THE MAJOR INDUSTRIALIZED COUNTRIES - TOO LITTLE OR TOO MUCH [J].

GHOSH, AR .

ECONOMIC JOURNAL, 1995, 105 (428) :107-128

[7] Inference for unit roots in dynamic panels where the time dimension is fixed [J].

Harris, RDF ;

Tzavalis, E .

JOURNAL OF ECONOMETRICS, 1999, 91 (02) :201-226

[8] THE EMERGING UNITED-STATES CURRENT ACCOUNT DEFICIT IN THE 1980S - A COINTEGRATION ANALYSIS [J].

HUSTED, S .

REVIEW OF ECONOMICS AND STATISTICS, 1992, 74 (01) :159-166

[9]

Im K.S., 1997, TESTING UNIT ROOTS H

[10]

Levin A, 1993, 56 UCSD

← 1 2 →