Within and between panel cointegration in the German Regional Output-Trade-FDI Nexus

For spatial data with a sufficiently long time dimension, the concept of «global» cointegration has been recently introduced to the econometrics research agenda. Global cointegration arises when non-stationary time series are cointegrated both within and between spatial units. In this paper, we anal...

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Detalhes bibliográficos
Autor: Mitze, Timo
Tipo de documento: artigo
Data de publicação:2011
País:España
Recursos:Universidad de Alcalá (UAH)
Repositório:e_Buah Biblioteca Digital Universidad de Alcalá
Idioma:inglês
OAI Identifier:oai:ebuah.uah.es:10017/27422
Acesso em linha:http://hdl.handle.net/10017/27422
Access Level:Acceso aberto
Palavra-chave:Global cointegration
Spatial Durbin model
Growth
Trade
FDI
Cointegración global
Modelo espacial Durbin
Crecimiento
Comercio
Inversión extranjera directa
Economía
Geografía
Sociología
Economics
Geography
Sociology
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repository_id_str
spelling Within and between panel cointegration in the German Regional Output-Trade-FDI NexusCointegración de panel entre e intra-grupos: las relaciones entre producción, comercio e inversión extranjera directa para las regiones alemanasMitze, TimoGlobal cointegrationSpatial Durbin modelGrowthTradeFDICointegración globalModelo espacial DurbinCrecimientoComercioInversión extranjera directaEconomíaGeografíaSociologíaEconomicsGeographySociologyFor spatial data with a sufficiently long time dimension, the concept of «global» cointegration has been recently introduced to the econometrics research agenda. Global cointegration arises when non-stationary time series are cointegrated both within and between spatial units. In this paper, we analyze the role of globally cointegrated variable relationships using German regional data (NUTS1 level) for GDP, trade, and FDI activity during the period 1976-2005. Applying various homogeneous and heterogeneous panel data estimators to a Spatial Panel Error Correction Model (SpECM) for regional output growth allows us to analyze the short- and long-run impacts of internationalization activities. For the long-run cointegration equation, the empirical results support the hypothesis of export- and FDI-led growth. We also show that for export and outward FDI activity positive cross-regional effects are at work. Likewise, in the short-run SpECM specification, direct and indirect spatial externalities are found to be present.El concepto de cointegración global ha sido recientemente introducido en la agenda de la investigación econométrica para datos espaciales con una dimensión de tiempo suficientemente larga. La cointegración global surge cuando series temporales no estacionarias están cointegradas, tanto dentro como entre las unidades espaciales. En este trabajo se analiza el papel de las relaciones cointegradas globales a partir de datos regionales de Alemania (a nivel de NUTS1) para el PIB, el comercio y la Inversión Extranjera Directa (IED) durante el periodo 1976-2005. La aplicación de varios estimadores de datos de panel homogéneos y heterogéneos a un modelo de corrección de error espacial de panel (SpECM) al crecimiento de la producción regional, nos permite analizar los efectos a corto y largo plazo de la internacionalización de las actividades. Para la ecuación de cointegración de largo plazo, los resultados empíricos apoyan la hipótesis de que las exportaciones y la IED son los motores del crecimiento. También se observan externalidades interregionales positivas para la exportación y la IED. Asimismo, en la especificación del SpECM en el corto plazo, se detecta la presencia de externalidades espaciales directas e indirectas.Asociación Española de Ciencia Regional (AECR)20112011-01-01journal articlehttp://purl.org/coar/resource_type/c_6501NAhttp://purl.org/coar/version/c_be7fb7dd8ff6fe43info:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10017/27422reponame:e_Buah Biblioteca Digital Universidad de Alcaláinstname:Universidad de Alcalá (UAH)Inglésengopen accesshttp://purl.org/coar/access_right/c_abf2info:eu-repo/semantics/openAccessoai:ebuah.uah.es:10017/274222026-06-18T11:13:07Z
dc.title.none.fl_str_mv Within and between panel cointegration in the German Regional Output-Trade-FDI Nexus
Cointegración de panel entre e intra-grupos: las relaciones entre producción, comercio e inversión extranjera directa para las regiones alemanas
title Within and between panel cointegration in the German Regional Output-Trade-FDI Nexus
spellingShingle Within and between panel cointegration in the German Regional Output-Trade-FDI Nexus
Mitze, Timo
Global cointegration
Spatial Durbin model
Growth
Trade
FDI
Cointegración global
Modelo espacial Durbin
Crecimiento
Comercio
Inversión extranjera directa
Economía
Geografía
Sociología
Economics
Geography
Sociology
title_short Within and between panel cointegration in the German Regional Output-Trade-FDI Nexus
title_full Within and between panel cointegration in the German Regional Output-Trade-FDI Nexus
title_fullStr Within and between panel cointegration in the German Regional Output-Trade-FDI Nexus
title_full_unstemmed Within and between panel cointegration in the German Regional Output-Trade-FDI Nexus
title_sort Within and between panel cointegration in the German Regional Output-Trade-FDI Nexus
dc.creator.none.fl_str_mv Mitze, Timo
author Mitze, Timo
author_facet Mitze, Timo
author_role author
dc.subject.none.fl_str_mv Global cointegration
Spatial Durbin model
Growth
Trade
FDI
Cointegración global
Modelo espacial Durbin
Crecimiento
Comercio
Inversión extranjera directa
Economía
Geografía
Sociología
Economics
Geography
Sociology
topic Global cointegration
Spatial Durbin model
Growth
Trade
FDI
Cointegración global
Modelo espacial Durbin
Crecimiento
Comercio
Inversión extranjera directa
Economía
Geografía
Sociología
Economics
Geography
Sociology
description For spatial data with a sufficiently long time dimension, the concept of «global» cointegration has been recently introduced to the econometrics research agenda. Global cointegration arises when non-stationary time series are cointegrated both within and between spatial units. In this paper, we analyze the role of globally cointegrated variable relationships using German regional data (NUTS1 level) for GDP, trade, and FDI activity during the period 1976-2005. Applying various homogeneous and heterogeneous panel data estimators to a Spatial Panel Error Correction Model (SpECM) for regional output growth allows us to analyze the short- and long-run impacts of internationalization activities. For the long-run cointegration equation, the empirical results support the hypothesis of export- and FDI-led growth. We also show that for export and outward FDI activity positive cross-regional effects are at work. Likewise, in the short-run SpECM specification, direct and indirect spatial externalities are found to be present.
publishDate 2011
dc.date.none.fl_str_mv 2011
2011-01-01
dc.type.none.fl_str_mv journal article
http://purl.org/coar/resource_type/c_6501
NA
http://purl.org/coar/version/c_be7fb7dd8ff6fe43
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv http://hdl.handle.net/10017/27422
url http://hdl.handle.net/10017/27422
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Asociación Española de Ciencia Regional (AECR)
publisher.none.fl_str_mv Asociación Española de Ciencia Regional (AECR)
dc.source.none.fl_str_mv reponame:e_Buah Biblioteca Digital Universidad de Alcalá
instname:Universidad de Alcalá (UAH)
instname_str Universidad de Alcalá (UAH)
reponame_str e_Buah Biblioteca Digital Universidad de Alcalá
collection e_Buah Biblioteca Digital Universidad de Alcalá
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15.228081

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