Investigating the Impact of Market Openness on Economic Growth for Poland: An Autoregressive Distributed Lag Bounds Testing Approach to Cointegration
<p>The aim of this paper is to analyze the relationship between international trade, economic and financial development for Poland during the period 1990-2016. For the analysis of this relationship we apply the autoregressive distributed lag (ARDL) technique and the error correction model (ECM...
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| Format: | Article |
| Language: | English |
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EconJournals
2019-10-01
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| Series: | International Journal of Economics and Financial Issues |
| Online Access: | https://www.econjournals.com/index.php/ijefi/article/view/8327 |
| _version_ | 1828019030079832064 |
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| author | Chaido Dritsaki Pavlos Stamatiou |
| author_facet | Chaido Dritsaki Pavlos Stamatiou |
| author_sort | Chaido Dritsaki |
| collection | DOAJ |
| description | <p>The aim of this paper is to analyze the relationship between international trade, economic and financial development for Poland during the period 1990-2016. For the analysis of this relationship we apply the autoregressive distributed lag (ARDL) technique and the error correction model (ECM) as it was formed by Pesaran and Shin (1999) and Pesaran et al. (2001), as well as the augmented Cobb-Douglas production function formed by Mankiw et al. (1992). The results of ARDL test and ECM confirm the existence of long and short run equilibrium relationship among variables of the examined model. Capital seems to be a driver of economic growth both in the short and long run, while labor has a negative impact in Poland’s economic growth. However, trade openness and financial development found to be insignificant on economic development both in the short and long run.</p><p><strong>Keywords: </strong>Cobb-Douglas production function, ARDL bounds test, Vector Error Correction Model</p><p><strong>JEL Classifications: </strong>F43, C52, C23, 047</p><p>DOI: <a href="https://doi.org/10.32479/ijefi.8327">https://doi.org/10.32479/ijefi.8327</a></p> |
| first_indexed | 2024-04-10T11:12:33Z |
| format | Article |
| id | doaj.art-82ca8ce3759d4c9ca8750b1ffc80a3ca |
| institution | Directory Open Access Journal |
| issn | 2146-4138 |
| language | English |
| last_indexed | 2024-04-10T11:12:33Z |
| publishDate | 2019-10-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Economics and Financial Issues |
| spelling | doaj.art-82ca8ce3759d4c9ca8750b1ffc80a3ca2023-02-15T16:19:02ZengEconJournalsInternational Journal of Economics and Financial Issues2146-41382019-10-01961231314187Investigating the Impact of Market Openness on Economic Growth for Poland: An Autoregressive Distributed Lag Bounds Testing Approach to CointegrationChaido Dritsaki0Pavlos Stamatiou1University of Western Macedonia, GreeceUniversity of Western Macedonia, Greece<p>The aim of this paper is to analyze the relationship between international trade, economic and financial development for Poland during the period 1990-2016. For the analysis of this relationship we apply the autoregressive distributed lag (ARDL) technique and the error correction model (ECM) as it was formed by Pesaran and Shin (1999) and Pesaran et al. (2001), as well as the augmented Cobb-Douglas production function formed by Mankiw et al. (1992). The results of ARDL test and ECM confirm the existence of long and short run equilibrium relationship among variables of the examined model. Capital seems to be a driver of economic growth both in the short and long run, while labor has a negative impact in Poland’s economic growth. However, trade openness and financial development found to be insignificant on economic development both in the short and long run.</p><p><strong>Keywords: </strong>Cobb-Douglas production function, ARDL bounds test, Vector Error Correction Model</p><p><strong>JEL Classifications: </strong>F43, C52, C23, 047</p><p>DOI: <a href="https://doi.org/10.32479/ijefi.8327">https://doi.org/10.32479/ijefi.8327</a></p>https://www.econjournals.com/index.php/ijefi/article/view/8327 |
| spellingShingle | Chaido Dritsaki Pavlos Stamatiou Investigating the Impact of Market Openness on Economic Growth for Poland: An Autoregressive Distributed Lag Bounds Testing Approach to Cointegration International Journal of Economics and Financial Issues |
| title | Investigating the Impact of Market Openness on Economic Growth for Poland: An Autoregressive Distributed Lag Bounds Testing Approach to Cointegration |
| title_full | Investigating the Impact of Market Openness on Economic Growth for Poland: An Autoregressive Distributed Lag Bounds Testing Approach to Cointegration |
| title_fullStr | Investigating the Impact of Market Openness on Economic Growth for Poland: An Autoregressive Distributed Lag Bounds Testing Approach to Cointegration |
| title_full_unstemmed | Investigating the Impact of Market Openness on Economic Growth for Poland: An Autoregressive Distributed Lag Bounds Testing Approach to Cointegration |
| title_short | Investigating the Impact of Market Openness on Economic Growth for Poland: An Autoregressive Distributed Lag Bounds Testing Approach to Cointegration |
| title_sort | investigating the impact of market openness on economic growth for poland an autoregressive distributed lag bounds testing approach to cointegration |
| url | https://www.econjournals.com/index.php/ijefi/article/view/8327 |
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