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The Role Of Capital Formation And Saving In Promoting Economic Growth In Iran, R. Verma, E. Wilson, Mosayeb Pahlavani
The Role Of Capital Formation And Saving In Promoting Economic Growth In Iran, R. Verma, E. Wilson, Mosayeb Pahlavani
Faculty of Commerce - Papers (Archive)
This paper estimates the interdependencies between capital formation, saving and output for Iran. The analysis is complicated because of the conflicting theoretical and empirical findings of their relative roles in other studies, the lack of research on Iran whose turbulent history makes it difficult to disentangle the complex and changing interrelationships between output, saving and investment for the period of our study, 1960 to 2003. The analysis uses Lee and Strazicich (2004) procedure to endogenously determine that structural breaks occurred in 1979 for real output, 1983 for saving and 1977 for investment. These dates coincide with the effect of the …
Are Chinese Stock Markets Increasing Integration With Other Markets In The Greater China Region And Other Major Markets?, G. Tian
Faculty of Commerce - Papers (Archive)
This paper investigates the cointegrating and long-term causal relationships between the Shanghai A and B-share market, and between these two markets and the Hong Kong, the Taiwanese, the Japanese and the US market of two sub periods between July 1993 and March 2007. On the basis of a new Granger non-causality test procedure developed by Toda-Yamamoto (1995) and Johansen’s (1988) cointegration test, my results suggest that a long-term equilibrium relationship measured by cointegration has been merged between the Chinese A-share market and the other markets in greater China region as well as the US market during the post-crisis period which …
Dynamic Linkages Between Thai And International Stock Markets, Abbas Valadkhani, S. Chancharat
Dynamic Linkages Between Thai And International Stock Markets, Abbas Valadkhani, S. Chancharat
Faculty of Commerce - Papers (Archive)
This paper investigates the existence of cointegration and causality between the stock market price indices of Thailand and its major trading partners (Australia, Hong Kong, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, the UK and the US), using monthly data spanning December 1987 to December 2005. Both the Engle-Granger two-step procedure (assuming no structural breaks) and the Gregory and Hansen (1996) test (allowing for one structural break) provide no evidence of a long-run relationship between the stock prices of Thailand and these countries. Based on the empirical results obtained from these two residual-based cointegration tests, potential long-run benefits exist …