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Economic Growth-Current Account Balance Relationship In Oecd Countries: Analysis Of Panel Data

Author

Listed:
  • C. Erdem Hepaktan
  • Serkan Cinar

    (Celal Bayar University
    Celal Bayar University)

Abstract

In this study, unit root tests, co-integration tests and long term co-efficient tests are researched with panel data of current account balance and GDP for OECD countries. In this research cross section dependence study is measured with LM tests and in conclusion. First generation unit root tests Levin-Lin and Chu(LLC), Breitung, Im-Peseran and Shin (IPS), Fisher ADF, Fisher PP and Hadri estimators are used with second generation unit root tests SURADF (Seemingly Unrelated Regression Augmented Dickey-Fuller), CADF (Cross-Sectionally Augmented Dickey-Fuller) and CIPS estimators. To measure co-integration, Pedroni, Kao, Johansen-Fisher and Westerlund co-integration tests are used. For forecast of long term co-efficent PMGE (Pooled Mean Group Estimation) and MGE (Mean Group Estimation) are used which are the estimators of DOLS. As a consequence of the econometric applications, co-integration relationship between economic growth and current account balance and long term statistically significant co-efficients which change between -0,2 and -0,4 are reached.

Suggested Citation

  • C. Erdem Hepaktan & Serkan Cinar, 2012. "Economic Growth-Current Account Balance Relationship In Oecd Countries: Analysis Of Panel Data," Anadolu University Journal of Social Sciences, Anadolu University, vol. 12(1), pages 43-58, March.
    • Handle: RePEc:and:journl:v:12:y:2012:i:1:p:43-58
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    File URL: http://www.anadolu.edu.tr/arastirma/hakemli_dergiler/sosyal_bilimler/pdf/2012_1/2012-01-04.pdf
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    More about this item

    Keywords

    Current Account Balance; Economic Growth; Panel Data Analysis;
    All these keywords.

    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements

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