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Cross Sectional Dependence and Cointegration Analysis among the GDP-Foreign Direct Investment and Aggregate Credits: Evidence from Selected Developing Countries

Author

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  • Senturk Mehmet
  • Akbas Yusuf Ekrem
  • Ozkan Gokcen

Abstract

In this study; it is investigated that gross domestic product (GDP), foreign direct investment (FDI) and aggregate credits (CR) relationship of seven developing countries over the period of 1982-2010. Firstly, CDLM tests were applied to detect the cross-sectional dependency. Then, SURADF and CADF tests were applied. According to cross-sectional augmented panel unit root test (CIPS) result that detect if the entire panel carries a unit root, is consistent with SURADF and CADF test results. Finally, cointegration is determined among GDP, FDI and CR in all cases via Westerlund (2007)) Error Correction and Westerlund and Edgerton (2007) Lagrange Multiplier (LM) Bootstrap panel cointegration tests.

Suggested Citation

  • Senturk Mehmet & Akbas Yusuf Ekrem & Ozkan Gokcen, 2014. "Cross Sectional Dependence and Cointegration Analysis among the GDP-Foreign Direct Investment and Aggregate Credits: Evidence from Selected Developing Countries," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 4(11), pages 1485-1501.
    • Handle: RePEc:asi:aeafrj:v:4:y:2014:i:11:p:1485-1501:id:1285
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    Cited by:

    1. Niri Martha Choji* & Siok Kun Sek, 2018. "Investigating the PPP Theory and Long-run Estimates for Five Asian Countries," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 237-242:2.
    2. Paulo Peixoto & Vítor João Pereira Domingues Martinho & Paulo Mourao, 2022. "Corruption and Inflation in Agricultural Production: The Problem of the Chicken and the Egg," Economies, MDPI, vol. 10(11), pages 1-33, October.

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