Application of the linear cointegrating techniques (fully modified OLS, canonical cointegrating regression and general to specific) show that consumer credit responds more significantly to the medium and long-term interest rates than the short-term interest rate. Enders and Siklos' (2001) threshold adjustment tests revealed that non-linearity is present slightly (with a statistical significance of 10% level) in the consumer credit model with a short-term interest rate (federal funds rate), while there exists a linear and symmetric cointegrating relationship in the models with medium (3 years) and long (10 years) term interest rates.
HOW CREATE RESIDUALS AFTER PERRON 1989 BREAK TEST IN EVIEWS 9 SERIES
generate the residuals of each observation and to form one series with the. Using Breitung's (2001) non-parametric rank tests, we find the existence of linear cointegrating relationships in the consumer credit models. break, coming from movements in coefficients of trend or from intercept. The estimation results suggest that export diversification plays an important role in economic growth.This paper has investigated the determinants of total consumer credit for the USA over the period 1968:Q1 to 2011:Q3. Given structural changes in the Chilean economy, time series techniques considering structural breaks are applied. The univariate two-break minimum LM unit root tests proposed by Lee and Strazicich (2003) endogenously determine the location of each break point and the optimal value of the lag length, k, is decided by using the general-to-specific method suggested by Perron and Ng (1996) and Perron (1989). Based on the theory of cointegration three types of statistical methodologies are used: the Johansen trace test, a multivariate error-correction model and the dynamic OLS procedure.
EViews Codes 2 (the Zivot-Andrews unit root test) 9. The diversification-led growth hypothesis is tested by estimating an augmented Cobb–Douglas production function on the basis of annual time series data from Chile. The structural break tests were first introduced to literature by Perron (1989) and the tests by. This paper attempts to examine the hypothesis that export diversification is linked to economic growth via externalities of learning-by-doing and learning-by-exporting fostered by competition in world markets. So I am trying to figure out which eviews test corresponds to each test that authors suggest. After estimating the ARDL-bounds model in Equa tion (9) and ensuring white noise residuals (steps g and k), the next step is to conduct the bounds test. Yet there have been remarkably few empirical investigations into the link between export diversification and growth. Bai and Perron (2003) suggest 4 different test. Vertical diversification out of primary into manufactured exports is also associated with growth since primary export sectors generally do not exhibit strong spillovers. Horizontal export diversification into completely new export sectors may generate positive externalities on the rest of the economy as export oriented sectors gain from dynamic learning activities due to contacts with foreign purchasers and exposure to international competition. It is frequently suggested that export diversification contributes to an acceleration of growth in developing countries.
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