In this paper we estimate a VECM model for inflation and output growth in different English regions, allowing for interactions between variables and between regions. The model permits the estimation not only of the degree of inter-regional correlation of price and output innovations, but also of the degree of heterogeneity in the dynamics of regional responses to these innovations. Although reg...

Current integration and co-movement among international stock markets has been boosted by increased globalization of the world economy, and profit-chasing capital surfing across borders. With a reputation as the fastest growing economy in the world, China’s stock market has continued gaining momentum during recent years and incurred growing attention from academicians, as well as practitioners....

This research investigates the hedging effectiveness of stock index futures markets in Malaysia and Singapore by employing various hedge ratio estimation methods, which comprises of the conventional OLS model, VECM, EGARCH and bivariate GARCH. The empirical results indicate that the Kuala Lumpur Futures Index (KLFI) provides higher hedging effectiveness compared to the Straits Times Index (STI)...

In this study, the causal-effect between carbon dioxide emissions and forestry production and trade was investigated in Ghana by employing a data spanning from 1961 to 2014 by using the VECM and ARDL model. Evidence of the long-run equilibrium relationship in the VECM shows that, a 1% increase in veneer sheet production reduces carbon dioxide emissions by 1.47% in the long-run. There was eviden...

The purpose of this study is to identify the factors influencing e-commerce and evaluate long short-term impacts on development activity. After establishing hypotheses verify, we use multiple panel regressions test influence education level, consumer’s residence, labour market status, internet banking, mobile non-mobile users e-commerce. For matter, in paper, by adopting fully modified ordinary...

The main purpose of this study is to ascertain the determinants demand for money and its stability in Azerbaijan using monthly time series data spanning from January 2006 November 2020. Johansen cointegration, vector error correction model (VECM) Impulse Response Function were employed investigate relationship between real (M1), macroeconomic variables, namely income, inflation, interest rate e...

This research investigates the dynamic interplay between financial technology, information and communication energy consumption, economic growth on environmental sustainability within Emerging Growth-Leading Economies (EAGLEs) from 2005 to 2020. Utilizing advanced econometric techniques, such as Fully Modified Least Squares (FMOLS) Vector Autoregressive Error Correction Model (VECM), investigat...

Purpose: The objective of this study was to evaluate the impact digital services trade on economic growth a panel developing, emerging and developed countries for period 2005- 2019. 
 Methodology: Panel-Vector Auto-Regression (P-VAR) Fixed Effects models (FE) were employed 32 45 24 respectively.
 Findings: Vector Error Correction Models (VECM) indicated that exports have significant l...

Abstract This paper aims to model the joint dynamics of cryptocurrencies in a nonstationary setting. In particular, we analyze role cointegration relationships within large system vector error correction (VECM) framework. To enable analysis dynamic setting, propose COINtensity VECM, nonlinear VECM specification accounting for varying systemwide exposure. Our results show that are indeed cointeg...

Along with the growth of marine tourism industry, number global cruise tourists is rapidly increasing; competition among regions to attract increasing. The current study aims verify that industry can be sustainable through its inherent power for long-term balanced convergence within and flexibly respond external shocks such as COVID-19. This applies Vector Error Correction Model (VECM) estimate...