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A Macroeconometric Model for the Sudan Economy: Empirical Evidence from Error Correction Framework 1956-2010

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  • Khalafalla Ahmed Mohamed Arabi
  • Suliman Zakaria Suliman Abdalla

Abstract

This paper aims to build a macroeconometric model for the Sudan economy to be used as an analytical tool to describe the operation of the economy. The model comprises six equations built around the Keynesian identity with 12 macroeconomic variables. Based on error correction model framework, Engle-Granger two steps method was followed and a system of simultaneous equations was estimated by Three Stages Least Squares. The empirical results show that the error correction terms which exemplify the disequilibrium state and the short-run and long-run effects got the right sign and magnitude.

Suggested Citation

  • Khalafalla Ahmed Mohamed Arabi & Suliman Zakaria Suliman Abdalla, 2013. "A Macroeconometric Model for the Sudan Economy: Empirical Evidence from Error Correction Framework 1956-2010," Research in World Economy, Research in World Economy, Sciedu Press, vol. 4(1), pages 95-108, March.
    • Handle: RePEc:jfr:rwe111:v:4:y:2013:i:1:p:95-108
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    References listed on IDEAS

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    3. Alogoskoufis, George & Smith, Ron, 1991. "On Error Correction Models: Specification, Interpretation, Estimation," Journal of Economic Surveys, Wiley Blackwell, vol. 5(1), pages 97-128.
    4. Banerjee, Anindya & Dolado, Juan J. & Galbraith, John W. & Hendry, David, 1993. "Co-integration, Error Correction, and the Econometric Analysis of Non-Stationary Data," OUP Catalogue, Oxford University Press, number 9780198288107.
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    Cited by:

    1. Nasser Al-Mawali & Haslifah Mohamad Hasim & Khalil Al-Busaidi, 2016. "Modeling the Impact of the Oil Sector on the Economy of Sultanate of Oman," International Journal of Energy Economics and Policy, Econjournals, vol. 6(1), pages 120-127.

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