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An Empirical Investigation On The Sustainability Of Balancing Item Of Balance Of Payment Accounts For Oic Member Countries

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Author Info
Tuck Cheong Tang
Evan Lau

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Abstract

This study aims to examine the sustainability of balancing item (???net errors and omissions') of balance of payment accounts for OIC (Organisation of the Islamic Conference) member countries. The series specific panel unit root test (SURADF unit root tests) suggest that 9 out of 23 sampled OIC member countries have their balancing item sustainable - Albania, Coted???Ivoire, Indonesia, Kuwait, Malaysia, Mozambique, Pakistan, Tunisia, and Uganda.

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File URL: http://www.buseco.monash.edu.au/eco/research/papers/2008/3108empiricaltanglau.pdf
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Publisher Info
Paper provided by Monash University, Department of Economics in its series Monash Economics Working Papers with number 31/08.

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Length: 21 pages
Date of creation: 01 Nov 2008
Date of revision:
Handle: RePEc:mos:moswps:2008-31

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Postal: Department of Economics, Monash University, Victoria 3800, Australia
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Related research
Keywords: Balancing Item (Net Errors and Omissions); Organisation of the Islamic Conference (OIC); Sustainability;

Find related papers by JEL classification:
C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions
F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Shiller, Robert J. & Perron, Pierre, 1985. "Testing the random walk hypothesis : Power versus frequency of observation," Economics Letters, Elsevier, vol. 18(4), pages 381-386. [Downloadable!] (restricted)
    Other versions:
  2. Choi, In, 2001. "Unit root tests for panel data," Journal of International Money and Finance, Elsevier, vol. 20(2), pages 249-272, April. [Downloadable!] (restricted)
  3. Tsangyao Chang & Kuei-Chiu Lee & Chien-Chung Nieh & Ching-Chun Wei, 2005. "An empirical note on testing hysteresis in unemployment for ten European countries: panel SURADF approach," Applied Economics Letters, Taylor and Francis Journals, vol. 12(14), pages 881-886, November. [Downloadable!] (restricted)
  4. Fausten, Dietrich K & Brooks, Robert D, 1996. "The Balancing Item in Australia's Balance of Payments Accounts: An Impressionistic View," Applied Economics, Taylor and Francis Journals, vol. 28(10), pages 1303-11, October. [Downloadable!] (restricted)
  5. Ahmad Zubaidi Baharumshah & Darja Borsic, 2008. "Purchasing power parity in Central and Eastern European countries," Economics Bulletin, Economics Bulletin, vol. 6(32), pages 1-8. [Downloadable!]
  6. Hsiao-Ping Chu & Peter Sher & Ming-Liang Yeh, 2008. "Revisiting Gibrat's law using panel SURADF tests," Applied Economics Letters, Taylor and Francis Journals, vol. 15(2), pages 137-143. [Downloadable!] (restricted)
  7. Andrew Levin & Chien-Fu Lin, 1993. "Unit Root Tests in Panel Data: New Results," University of California at San Diego, Economics Working Paper Series 93-56, Department of Economics, UC San Diego. [Downloadable!]
  8. Lau, Evan & Zubaidi Baharumshah, Ahmad, 2005. "Mean-reverting behavior of current account in Asian countries," Economics Letters, Elsevier, vol. 87(3), pages 367-371, June. [Downloadable!] (restricted)
  9. Tuck Cheong Tang, 2007. "Sustainability of balancing item of balance of payments accounts: fresh empirical evidence for G7 countries," Applied Economics Letters, Taylor and Francis Journals, vol. 14(4-6), pages 251-254. [Downloadable!] (restricted)
  10. Holmes, Mark J., 2001. "New Evidence on Real Exchange Rate Stationarity and Purchasing Power Parity in Less Developed Countries," Journal of Macroeconomics, Elsevier, vol. 23(4), pages 601-614, October. [Downloadable!] (restricted)
  11. Tsangyao Chang & Hsu-Ling Chang & Hsiao-Ping Chu & Chi-Wei Su, 2006. "Is per capita real GDP stationary in African countries? Evidence from panel SURADF test," Applied Economics Letters, Taylor and Francis Journals, vol. 13(15), pages 1003-1008, December. [Downloadable!] (restricted)
  12. Tuck Cheong Tang & Evan Poh Hock Lau, 2008. "An empirical investigation on sustainability of balancing item in Asian countries," Applied Economics Letters, Taylor and Francis Journals, vol. 15(2), pages 117-123. [Downloadable!] (restricted)
  13. Hsu, Yi-Chung & Lee, Chien-Chiang & Lee, Chi-Chuan, 2008. "Revisited: Are shocks to energy consumption permanent or temporary? New evidence from a panel SURADF approach," Energy Economics, Elsevier, vol. 30(5), pages 2314-2330, September. [Downloadable!] (restricted)
  14. Tuck Cheong Tang, 2008. "Sustainability of Balancing Item in 18 Industrial Countries’ Balance of Payments Accounts: An Empirical Study," Icfai University Journal of Applied Economics, Icfai Press, vol. 0(5), pages 15-25, September.
  15. Levin, Andrew & Lin, Chien-Fu & James Chu, Chia-Shang, 2002. "Unit root tests in panel data: asymptotic and finite-sample properties," Journal of Econometrics, Elsevier, vol. 108(1), pages 1-24, May. [Downloadable!] (restricted)
    Other versions:
  16. Mark J. Holmes, 2006. "How Sustainable Are Oecd Current Account Balances In The Long Run?," Manchester School, University of Manchester, vol. 74(5), pages 626-643, 09. [Downloadable!] (restricted)
  17. Tuck Cheong Tang, 2006. "The influences of economic openness on Japan's balancing item: an empirical note," Applied Economics Letters, Taylor and Francis Journals, vol. 13(1), pages 7-10, January. [Downloadable!] (restricted)
  18. Maddala, G S & Wu, Shaowen, 1999. " A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(0), pages 631-52, Special I. [Downloadable!] (restricted)
  19. Tuck Cheong Tang, 2006. "Japan's balancing item: do timing errors matter?," Applied Economics Letters, Taylor and Francis Journals, vol. 13(2), pages 81-87, February. [Downloadable!] (restricted)
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