De, Utpal Kumar (2011): Globalisation and cointegration among the states and convergence across the continents: a panel data analysis.
Download (847kB) | Preview
This paper tried to examine the level of cointegration among various nations across the continents in regard to the globalisation. Also here attempt is made to analyse the nature of inter and intra continental variation in globalisation over time. The proximity and convergence over time in terms of the growth of globalisation is also examined by using a panel data set over a period of 1970 to 2007. The outcome reveals the presence of co-integration among the selected nations despite the fact that the European nations are more co-integrated than the other continents. It is followed by the countries in Africa and Asia. The proximity matrices of overall globalisation and political globalisation provided some important indications that geographical proximity, economic necessities, cultural and political understanding play crucial role in determining the clusters of countries in terms of globalisation or choice of the countries to open with other nations for trade, cultural exchange etc.
|Item Type:||MPRA Paper|
|Original Title:||Globalisation and cointegration among the states and convergence across the continents: a panel data analysis|
|English Title:||Globalisation and Cointegration among the States and Convergence across the Continents: A Panel Data Analysis|
|Keywords:||Globalisation, Proximity, Stationarity, Cointegration, Regional Convergence, Panel Data|
|Subjects:||H - Public Economics > H7 - State and Local Government ; Intergovernmental Relations > H77 - Intergovernmental Relations ; Federalism ; Secession
R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics
C - Mathematical and Quantitative Methods > C8 - Data Collection and Data Estimation Methodology ; Computer Programs > C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; Data Access
O - Economic Development, Innovation, Technological Change, and Growth > O5 - Economywide Country Studies > O57 - Comparative Studies of Countries
O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O40 - General
F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F43 - Economic Growth of Open Economies
|Depositing User:||Utpal Kumar De|
|Date Deposited:||28. Sep 2011 15:25|
|Last Modified:||16. Feb 2013 08:18|
Amavilah, VH (2009a), “National Identity, Globalization, and the Well-being of Nations”, MPRA paper No. 14948. Available at http://mpra.ub.uni-muenchen.de/14948/1/MPRA_paper_14948.pdf.
Amavilah, VH (2009b), “National Symbols, Globalization, and the Well-being of Nations”, Available at http://mpra.ub.uni-muenchen.de/14882/1/MPRA_paper_14882.pdf. Antweiler, W., Copeland, B. R., and Taylor, M. S. (2001), “Is Free Trade Good for the Environment?”, American Economic Review, 91(4): 877–908.
Barro, R.J. (1991), “Economic Growth in a Cross-Section of Countries”, Quarterly Journal of Economics, 106: 407–43.
Barro, R.J. and Sala-i-Martin, X. (1992), “Convergence”, Journal of Political Economy, 100: 223–51.
Baumol, W.J. (1986), “Productivity Growth, Convergence and Welfare: What the Long-run Data Show”, American Economic Review, 76: 1072–85.
Beams, Nick (2000, June), “Globalisation: The Socialist Perspective”, Downloaded from http://www.wsws.org/articles/2000/jun2000/lec1-j05.shtml (accessed on 12-12-2010).
Bernard, A. and Durlauf, S. (1995), “Convergence in International Output”, Journal of Applied Econometrics, 10: 97–108.
Bernard, A. and Durlauf, S. (1996), “Interpreting Tests of the Convergence Hypothesis”, Journal of Econometrics, 71: 161–74.
Cherni J. A. (2001), “Globalisation and Environmental Sustainability in Cities of Developed and Developing Countries” Revista Theomai (edicion electronic), numero 4, Universidad Nacional de Quilmes, Argentina.
Choi, I. and Ahn, B.C. (1998), “Testing the Null of Stationarity for Multiple Time Series”, Journal of Econometrics, 88: 41–77.
Cole, M. A. (2004), “Trade, the Pollution Haven Hypothesis and the Environmental Kuznets Curve: Examining the linkages”, Ecological Economics, 48:71–81.
De, U.K. and Pal, M. (2011), “Dimensions of Globalization and their Effects on Economic Growth and Human Development Index”, Asian Economic and Financial Review, 1(1): 1-13.
DeLong, J.B. (1988), “Productivity Growth, Convergence, and Welfare: Comment”, American Economic Review, 78: 1138–54.
Dickey, D. and Fuller, W. (1979), “Distribution of the Estimators for Autoregressive Time Series with a Unit Root”, Journal of the American Statistical Association, 74: 427–31.
Dreher, A. (2006). “Does Globalization Affect Growth? Evidence from a New Index of Globalization”. Applied Economics, 38(1): 1091–1110.
Durlauf, S. and Quah, D. (1999). ‘The New Empirics of Economic Growth’, in J.B. Taylor and M. Woodford (eds), Handbook of Macroeconomics, North- Holland Elsevier Science, Amsterdam, 231–304.
Effland, A., Normile, MA., Roberts, D., Wainio, J. (2006), “World Trade Organization and Globalization Help Facilitate Growth in Agricultural Trade” Downloaded from http://www.ers.usda.gov/AmberWaves/June08/Features/WTO.htm (accessed on 12-12-2010).
Engle, R.F, Granger, C.W. (1987), “Co-integration and Error Correction: Representation, Estimation and Testing”, Econometrica, 55: 251–276.
Evans, P. (1997), “How Fast Do Economies Converge?’, Review of Economics and Statistics, 79: 219–25.
Eweje, G. (2005), Lecture notes: Globalisation & Anti-Globalisation Movements, Topics in International Business, Lecture 2. Albany, Massey University.
Heintz, James (2006), “Globalization, Economic Policy and Employment: Poverty and Gender Implications”, Employment Strategy Papers, Geneva International Labour Office, 2006.
Im, K.S., Pesaran, M.H., and Shin, Y. (1997), “Testing for Unit Roots in Heterogeneous Panels”, mimeo, Department of Applied Economics, University of Cambridge.
Johansen, S. (1988), “Statistical Analysis of Cointegration Vectors”, Journal of Economic Dynamics and Control, 12: 231-254.
Kulkarni, Kishore G. (2005), “Effect of Globalization on India’s Economic Growth”, presented in the Oxford Roundtable Conference held in Oxford University, UK, in July 2005.
Levin, A. and Lin, C.F. (1992). ‘Unit Root in Panel Data: Asymptotic and Finite Sample Properties’, Working Paper 92–63, Department of Economics, University of California, San Diego.
Levin, A. and Lin, C.F. (1993), “Unit Root Tests in Panel Data: New Results”, Working Paper 93–56, Department of Economics, University of California, San Diego.
Li, Q. and Papell, D. (1999), “Convergence of International Output: Time Series Evidence for 16 OECD countries’, International Review of Economics and Finance, 8: 267–80.
Mankiw, G., Romer, D., and Weil, D. (1992). ‘A Contribution to the Empirics of Economic Growth’, Quarterly Journal of Economics, 107: 407–37.
Quah, D. (1992), “International Patterns of Growth: I. Persistence in Cross-Country Disparities”, Working Paper, London School of Economics, October.
Quah, D. (1993), “Galton’s Fallacy and Tests of the Convergence Hypothesis”, The Scandinavian Journal of Economics, 95: 427–43.
Quah, D. (1994), “Exploiting Cross-Section Variations for Unit Root Inference in Dynamic Data”, Economic Letters, 44, 9–19.
Sala-I-Martin, X. (1994), “Cross Sectional Regressions and the Empirics of Economic Growth”, European Economic Review, 38: 739-47.
Sala-i-Martin, X. (1995), “The Classical Approach to Convergence Analysis”, Discussion Paper no. 1254, CEPR, London. Tang, Rong (2008), “Is the Common Good Improved by Economic Globalisation and the Activities of Multinational Corporations?”, International Journal of Business and Management, 3(1): 141-145.
Taylor, M. and Sarno, L. (1998), “The Behavior of Real Exchange Rates during the Post- Brettonwoods Period”, Journal of International Economics, 46: 281–312. Versi, A. (2004), “The Human Face of Globalisation”, [Online] Available: Business Source Premier, ISSN:01413929, Massey University.
World Bank and IMF (2007), “Aid for Trade: Harnessing Globalization for Economic Development”, Policy paper.