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Article

Analysis of Potential of International Inter-Cluster Cooperation in High-Tech Industries

1Department of Economic Theory, Sumy State University, Sumy, Ukraine


International Journal of Econometrics and Financial Management. 2014, 2(4), 141-147
DOI: 10.12691/ijefm-2-4-5
Copyright © 2014 Science and Education Publishing

Cite this paper:
Omelyanenko V.A.. Analysis of Potential of International Inter-Cluster Cooperation in High-Tech Industries. International Journal of Econometrics and Financial Management. 2014; 2(4):141-147. doi: 10.12691/ijefm-2-4-5.

Correspondence to: Omelyanenko  V.A., Department of Economic Theory, Sumy State University, Sumy, Ukraine. Email: sumyvit@ya.ru

Abstract

The article deals with the background and benefits of international inter-cluster interactions. Research shows that the cluster is the most effective form of innovative development based on the concept of innovation ecosystem, and intercluster international partnership is the most appropriate form of organization for the development of high-tech-based inter-sectoral cooperation and implementation of international projects. It is shown that the consideration of high-tech industry in the framework of the structural model as mega cluster means that the synergistic advantage can be seen only with a clear organizational structure and coordinated interaction of clusters. Analysis of necessity of inter-cluster interaction is considered on example of space industry. We propose tools for serching partners and assess the effectiveness of the scheme on the basis of inter-cluster interaction network approach and the results for the regional economy.

Keywords

References

[1]  Boosting Innovation: The Cluster Approach. OECD. Paris. 1999.
 
[2]  Cluster Observatory. [Online]. Available: http://www.clusterobservatory.eu [Accessed Jul. 30, 2014].
 
[3]  Clusters and Cooperation for Regional Development in Central Europe. [Online]. Available: http://www.central2013.eu/fileadmin/user_upload/Downloads/outputlib/Tourism_Strategic_Plan.pdf [Accessed Jul. 30, 2014].
 
[4]  Franzuzov, А. Yu., “Razrabotka sistemyi pokazateley effektivnosti mezhklasternogo informatsionnogo vzaimodeystviya hozyaystvuyuschih subektov” [Develop a system of performance indicators intercluster information interaction of economic agents], Transportnoe delo Rossii [Transportation business in Russia]. No 1. 2008. [Online]. Available: http://www.morvesti.ru/archive/tdr/element.php?IBLOCK_ID=66&SECTION_ID=1350&ELEMENT_ID=2915
 
[5]  Handbook on Cluster Internationalisation. TACTICS. 2012.
 
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[6]  Kovalchuk, М.V., “Konvergentsiya nauk i tehnologiy-proryiv v buduschee” [Convergence of Science and Technology-a breakthrough in the future], Rossijskie nanotehnologii [Russian Nanotechnology]. 6. (1-2). 2011. [Online]. Available: http://www.portalnano.ru/read/iInfrastructure/russia/nns/kiae/convergence_kovalchuk
 
[7]  Nehaev, S.А., “Integratsiya klasterov, otrasley i tehnologiy (na primere kremnievogo proizvodstva i fotovoltaiki)” [Integration of clusters of industries and technologies (for example, silicon production and photovoltaics)], Regiony Rossii: Strategii i mehanizmy modernizacii, innovacionnogo i tehnologicheskogo razvitija [Russian Regions: Strategies and mechanisms of modernization, innovation and technological development]. RAS. INION. 2. 382-386. 2012.
 
[8]  Omelyanenko, V.A. Analiz razvitiya otrasley, orientirovannyih na mezhdunarodnoe sotrudnichestvo (na primere kosmicheskogo priborostroeniya) [Analysis of the development-oriented industries on international cooperation (for example, Space Instrument)]. in 86th International Research and Practice Conference The power and freedom in the structure of global trends of development of economical and legal systems and management techniques. GISAP, London. 2014. [Online]. Available: http://gisap.eu/ru/node/52463
 
[9]  Omelyanenko, V.A. Strategiya razvitiya mezhotraslevogo vzaimodeystviya na osnove klasterov [The development strategy of inter-sectoral collaboration on the basis of clusters]. in Innovacii v tehnologijah i obrazovanii [Innovations in technologies and education]: Digest of Sci. Art. participants of the VII International Scientific and Practical Conference, Veliko Tarnovo, Bulgaria. 2. 234-237. 2014.
 
[10]  Prokopenko, O., Eremenko, Yu., Omelyanenko, V., “Role of international factor in innovation ecosystem formation”, Economic Annals-XXI. 3-4 (2). 4-7. 2014.
 
[11]  Record, S.I. Razvitie promyishlenno-innovatsionnyih klasterov v Evrope: evolyutsiya i sovremennaya diskussiya [Development of industrial and innovation clusters in Europe: evolution and the modern debate]. SPb. 2010.
 
[12]  Zvjagina, Е.М., “Tipologiya klasterov i osobennosti klasterizatsii ekonomiki regionov Rossii” [Typology of clusters and clustering features of the economy of regions of Russia]. Sovremennye problemy nauki i obrazovanija [Modern Problems of Science and Education]. 2. 2014. [Online]. Available: www.science-education.ru/116-12696.
 
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Article

Supporting Rationale of Regional Clusterization Effectiveness: Methodological Approach

1Economics and Management Department, Nizhnekamsk Institute of Chemical Engineering (Branch), Kazan National Research Technological University, Nizhnekamsk, Russian Federation


International Journal of Econometrics and Financial Management. 2014, 2(4), 148-152
DOI: 10.12691/ijefm-2-4-6
Copyright © 2014 Science and Education Publishing

Cite this paper:
Dyrdonova A.N., Fomin N.Y.. Supporting Rationale of Regional Clusterization Effectiveness: Methodological Approach. International Journal of Econometrics and Financial Management. 2014; 2(4):148-152. doi: 10.12691/ijefm-2-4-6.

Correspondence to: Dyrdonova  A.N., Economics and Management Department, Nizhnekamsk Institute of Chemical Engineering (Branch), Kazan National Research Technological University, Nizhnekamsk, Russian Federation. Email: Danauka@lenta.ru

Abstract

The paper deals with a study of cluster-type development of regional economic systems. Positive influence on the social and economic growth of a number of regions in the Russian Federation has been evaluated owing to generation of territorial cluster-type formations. The paper includes findings of an investigation into theoretical nature of «cluster» as an economic category. As an example of positive influence of the clusterization strategy, the project of formation and development of the regional cluster of Nizhnekamsk Municipal District of the Republic of Tatarstan has been offered and validated from economic effectiveness point of view. For the purpose of the project feasibility validation, a methodological approach has been specifically designed for evaluation of economic potential of the city-forming enterprises. During approbation, the above mentioned approach brought to the front a number of intensive growth prospects for the enterprises in question in the course of integration, and, consequently, viability of the regional cluster became worthy of notice. At the same time, the project in question was rationalized from economic effectiveness perspective. For this line of the investigation a special methodological approach has been developed so as to allow predicting a level of synergetic effect of the clusterization.

Keywords

References

[1]  Boosting Innovation: The Cluster Approach, OECD Proceedings. OECD Publishing. Paris, 2012.
 
[2]  Dyrdonova, A.N., "Clustering petrochemical industry of the Republic of Tatarstan", Bulletin of the Kazan Technological University, 16 (12). 221-224. 2013.
 
[3]  Dyrdonova, A.N., "Formation and development of elements of innovation infrastructure in the region", Management of economic systems: electronic scientific journal, 12 (60). 2014. [Online].
 
[4]  Dyrdonova, A.N., "Methodical bases of potential clustering of regional economic systems", Business. Education. Law. Bulletin of the Volgograd Business Institute. 1 (26). 252-262. 2014.
 
[5]  Isbasoiu, G.M., Industrial Clusters and Regional Development. The Case of Timisoara and Montebelluna. MPRA Paper No. 5037. 2012. [Online].
 
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[6]  Ketels, С., Cluster Initiatives in Developing and Transition Economies. Center for Strategy and Competitiveness. Stockholm, 2012.
 
[7]  OECD Reviews of Regional Innovation: Competitive Regional Clusters: National Policy Approaches. OECD Publishing, Paris, 2013.
 
[8]  Porter, M.E., The Competitive Advantage of Nations. New York: Free Press, 2010.
 
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Article

Identification of the Educational Clusters in the Regional Economy: Theory, Methodology and Research Results (in Example of Perm Krai)

1Department of Worldand Regional Economics, Economic Theory, Perm State University, Perm, Russia


International Journal of Econometrics and Financial Management. 2014, 2(4), 153-162
DOI: 10.12691/ijefm-2-4-7
Copyright © 2014 Science and Education Publishing

Cite this paper:
Kovaleva T.Yu., Baleevskih V.G.. Identification of the Educational Clusters in the Regional Economy: Theory, Methodology and Research Results (in Example of Perm Krai). International Journal of Econometrics and Financial Management. 2014; 2(4):153-162. doi: 10.12691/ijefm-2-4-7.

Correspondence to: Baleevskih  V.G., Department of Worldand Regional Economics, Economic Theory, Perm State University, Perm, Russia. Email: kovalevatu@yandex.ru

Abstract

Article provides an algorithm and defined criteria for the identification of educational clusters in the regional economy, adapted to the Russian reality. Identification of the leading industries as promising regional educational clusters in the economy of Perm Krai conducted on the basis of quantitative Shift-Share analysis and the calculation of the localization coefficient. Statistical base of the research were materials of the central statistical database of the Federal State Statistics Service of the Russian Federation for 2007-2012 years by employment indicators. Qualitative diagnosis of educational clusters allowed to establish the shape and direction of development of strategic partnership in the educational system in the region, to identify the factors of competition. As a result, by applying a set of quantitative and qualitative methods of analysis of cluster, authors found that in the economy of Perm Krai has four potential educational clusters to be formed, the development of which should be a priority of educational policy in the region.

Keywords

References

[1]  Applying Shift-Share Analysis (SSA) on LEADER + Initiative Local Action Groups in Greece. Deliverable 8.1: Case-study report. Aristotle University of Thessaloniki. 2010.
 
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[3]  Culatta R., Accelerating Innovation in Educational Technology. EDUCAUSE Review, November/December. 2012. [Online]. Available: https://net.educause.edu/ir/library/pdf/ERM1262.pdf [Accessed: Jul. 9, 2014].
 
[4]  Elsner, W., "An industrial policy agenda 2000 and beyond", Experience, Theory and Policy, 72. 411-486. 2000.
 
[5]  Evseenko, S.V., "Klaster i korporacija: sravnitel'nyj analiz organizacii" [Cluster and corporation: comparative analysis of the organization], Vestnik Omskogo universiteta. Serija «Jekonomika» [Omsk University Review. Economy]. 4. 108-111. 2010.
 
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[6]  Karlina, T.V., "Identifikacija jader regional'nyh jekonomicheskih klasterov na osnove analiza strukturnyh sdvigov v uslovijah ciklichno razvivajushhejsja jekonomiki" [Identification of nuclei of regional economic clusters on the basis of shift-share analysis in the conditions of economy developing in cycles], Vestnik Permskogo universiteta. Serija «Jekonomika» [Perm University Herald. Economy]. 4. 18-29. 2011.
 
[7]  Korchagina, N.A., "Obrazovatel'nye klastery kak osnova povyshenija konkurentosposobnosti uchebnyh zavedenij" [Educational clusters as basis of increase of competitiveness of educational institutions]. Prikaspijskij zhurnal: upravlenie i vysokie tehnologii [Caspian magazine: management and high technologies]. 3. 78-85. 2009.
 
[8]  Korchagina, N.A., Klasternaja politika-tehnologija povyshenija jeffektivnosti upravlenija kompanijami [Cluster policy-technology of increase of effective management of the companies]. Astrakhan: Astrakhan University Publishing House, 2009. 117 p.
 
[9]  Kovaleva, T.Yu., "Algoritm identifikacii i ocenki klasterov v jekonomike regiona" [Algorithm of identification and evaluation of regional clusters], Vestnik Permskogo universiteta. Serija «Jekonomika» [Perm University Herald. Economy], 4. 30-39. 2011.
 
[10]  Melnikov, A.E., Social'no orientirovannyj klaster kak faktor ustojchivogo razvitija regiona [The social focused cluster as a factor of a sustainable development of the region]. Avtoreferat dissertacii na soiskanie uchenoj stepeni kandidata jekonomicheskih nauk [The thesis abstract of a scientific degree of Doctor of Economics]. Perm State National Research University, 2011. 29 p.
 
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[18]  Zhuravleva, M.V., "Professional'naja podgotovka kadrov na osnove klasternogo podhoda" [Vocational training of shots on the basis of cluster approach], Vestnik Vysshej shkoly Alma mater” [Higher School Review. Alma mater]. 2. 50-56. 2010.
 
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Article

Identification of Tourist Clusters in the Pribaikal Region

1Department of Management and Service, Baikal State University of Economics and Law, Irkutsk, Russia


International Journal of Econometrics and Financial Management. 2014, 2(4), 163-167
DOI: 10.12691/ijefm-2-4-8
Copyright © 2014 Science and Education Publishing

Cite this paper:
Rubtsova Natalia Vladimirovna. Identification of Tourist Clusters in the Pribaikal Region. International Journal of Econometrics and Financial Management. 2014; 2(4):163-167. doi: 10.12691/ijefm-2-4-8.

Correspondence to: Rubtsova  Natalia Vladimirovna, Department of Management and Service, Baikal State University of Economics and Law, Irkutsk, Russia. Email: runatasha21@yandex.ru

Abstract

The purpose of this study was to assess the availability of tourism clusters in the regions of Pribaikal, namely the Irkutsk region and the Republic of Buryatia, using a variety of cluster identification methods. The findings suggest that the characteristics of tourism clusters are found in the Republic of Buryatia. However, in Irkutsk region they are not available, although the two regions are the object of a number of national and regional development programs of tourism clusters.

Keywords

References

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[4]  Danilenko, N.N., Rubtsova, N.V.. “Sravnitel'nyj analiz turistskikh klasterov: rol' sotrudnichestva kak faktora razvitiya”, Ekonomika regiona, 2. 115-129. 2014.
 
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Article

Does Remittance in Nepal Cause Gross Domestic Product? An Empirical Evidence Using Vector Error Correction Model

1Central Department of Economics, Tribhuvan Univercity, Kathmandu, Nepal


International Journal of Econometrics and Financial Management. 2014, 2(5), 168-174
DOI: 10.12691/ijefm-2-5-1
Copyright © 2014 Science and Education Publishing

Cite this paper:
Kamal Raj Dhungel. Does Remittance in Nepal Cause Gross Domestic Product? An Empirical Evidence Using Vector Error Correction Model. International Journal of Econometrics and Financial Management. 2014; 2(5):168-174. doi: 10.12691/ijefm-2-5-1.

Correspondence to: Kamal  Raj Dhungel, Central Department of Economics, Tribhuvan Univercity, Kathmandu, Nepal. Email: kamal.raj.dhungel@gmail.com

Abstract

This study aims to investigate short and long run causality between the variable gross domestic product and remittance. The study is based on the estimation of vector error correction model. Testing the unit root and the co-integration is the basic requirement for the estimation of vector error correction model. Further, it also has estimated remittance elasticity using ordinary least square method. The finding reveals that the contribution of remittance in gross domestic product is only 0.07%. It means a 1% change in remittance will change the gross domestic product by only 0.07%. It indicates that the remittance what Nepal received from its migrants is being consumed, not saved and invested in the productive sector that can create gainful employment to the generation to come. Evidence has not support the hypothesis of remittance causes gross domestic product in the long run but there is strong evidence about the short run causality running from remittance to gross domestic product. But opposite is true in reverse order. Gross domestic product causes remittance in both short and long run.

Keywords

References

[1]  Ang, Alvin P. (2007), “Workers’ Remittances and Economic Growth in the Philippines”, Social Research Center, University of Santo Tomas, from (http://www.degit.ifw-kiel.de/papers/degit_12/C012_029.pdf).
 
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[21]  Rajan, R. G. and Subramaniam, A. (2005), “What Undermines Aid’s Impact on Growth?” NBER Working Paper, 11657.
 
[22]  Rao B, Hassan G (2009), “Are the Direct and Indirect Growth Effects of Remittances Significant?” MPRA Paper, 18641 Available at: http://mpra.ub.uni/muenchen.de/18641 /1/MPRA_ paper_18641.pdf. Remittances Promote Economic Growth?,International Monetary Fund Working Paper.
 
[23]  Rossi, Eduardo, Impulse Response Function from (http://economia.unipv.it/pagp/pagine_personali/erossi/dottorato_svar.pdf).
 
[24]  Shakya, S (2009), “Unleashing Nepal, Past, Present and Future of the Economy” Penguin Books, New Delhi.
 
[25]  Turnell, S. Alison Vicary and Wylie Bradford,“Migrant Worker Remittances and Burma: An Economic Analysis of Survey Results”BURMA ECONOMIC WATCHMacquarie University, Sydney, Australia.
 
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Article

Parametric Bootstrap Methods for Parameter Estimation in SLR Models

1Department of Statistics, Michael Okpara University of Agriculture, Umudike, Abia State, Nigeria


International Journal of Econometrics and Financial Management. 2014, 2(5), 175-179
DOI: 10.12691/ijefm-2-5-2
Copyright © 2014 Science and Education Publishing

Cite this paper:
Chigozie Kelechi Acha. Parametric Bootstrap Methods for Parameter Estimation in SLR Models. International Journal of Econometrics and Financial Management. 2014; 2(5):175-179. doi: 10.12691/ijefm-2-5-2.

Correspondence to: Chigozie  Kelechi Acha, Department of Statistics, Michael Okpara University of Agriculture, Umudike, Abia State, Nigeria. Email: specialgozie@yahoo.com

Abstract

The purpose of this study is to investigate the performance of the bootstrap method on external sector statistics (ESS) in the Nigerian economy. It was carried out using the parametric methods and comparing them with a parametric bootstrap method in regression analysis. To achieve this, three general methods of parameter estimation: least-squares estimation (LSE) maximum likelihood estimation (MLE) and method of moments (MOM) were used in terms of their betas and standard errors. Secondary quarterly data collected from Central Bank of Nigeria statistical bulletin 2012 from 1983-2012 was analyzed using by S-PLUS softwares. Datasets on external sector statistics were used as the basis to define the population and the true standard errors. The sampling distribution of the ESS was found to be a Chi-square distribution and was confirmed using a bootstrap method. The stability of the test statistic θ was also ascertained. In addition, other parameter estimation methods like R2, R2adj, Akaike Information criterion (AIC), Schwart Bayesian Information criterion (SBIC), Hannan-Quinn Information criterion (HQIC) were used and they confirmed that when the ESS was bootstrapped it turned out to be the best model with 98.9%, 99.9%, 84.9%, 85.4% and 86.7% respectively.

Keywords

References

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Article

Financial Contagion Crisis Effect of Subprime on G7: Evidence through the Adjusted Correlation Test and Non-linear Error Correction Models (ECM)

1Higher Institute of Business Administration Gafsa Tunisia


International Journal of Econometrics and Financial Management. 2014, 2(5), 180-187
DOI: 10.12691/ijefm-2-5-3
Copyright © 2014 Science and Education Publishing

Cite this paper:
Mourad Hmida. Financial Contagion Crisis Effect of Subprime on G7: Evidence through the Adjusted Correlation Test and Non-linear Error Correction Models (ECM). International Journal of Econometrics and Financial Management. 2014; 2(5):180-187. doi: 10.12691/ijefm-2-5-3.

Correspondence to: Mourad  Hmida, Higher Institute of Business Administration Gafsa Tunisia. Email: hmida.mourad@yahoo.fr

Abstract

The objective of this study is to test the presence of the contagion phenomenon during the US subprime crisis. We adopt the test of adjusted correlation coefficients between markets and propose a new procedure which involves testing the non-linearity of the propagation mechanisms shocks, estimated with a model of long-term interdependence. We apply this methodology to the financial markets which measure the risk perception. Our results prove the existence of some cases of the contagion phenomenon between the financial markets of G7 countries.

Keywords

References

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Article

Risk Measurement in Commodities Markets Using Conditional Extreme Value Theory

1Business, Economics Statistics Modelling Laboratory (BESTMOD), Faculty of Economics and Management, Sfax-Tunisia


International Journal of Econometrics and Financial Management. 2014, 2(5), 188-205
DOI: 10.12691/ijefm-2-5-4
Copyright © 2014 Science and Education Publishing

Cite this paper:
Ahmed GHORBEL, Sameh SOUILMI. Risk Measurement in Commodities Markets Using Conditional Extreme Value Theory. International Journal of Econometrics and Financial Management. 2014; 2(5):188-205. doi: 10.12691/ijefm-2-5-4.

Correspondence to: Ahmed  GHORBEL, Business, Economics Statistics Modelling Laboratory (BESTMOD), Faculty of Economics and Management, Sfax-Tunisia. Email: ahmed_isg@yahoo.fr

Abstract

The aim of this paper is to quantify risk in oil, gas natural and phosphates markets by the Value at Risk and Expected Shortfull using McNeil and Frey (2000) two-steps approach based on the combination of the theory of extreme values and the GARCH model. A comparison is made between this method and various conventional methods such as GARCH models, Filtered hsitoriacal simulation, unconditional EVT-POT and unconditional EVT Bloc. Particular attention is given to study the quality of VaR forecasts obtained from conditional EVT method. The results we report show that this method is the best one for quantile superior to 99%. In all other cases, it offer acceptable VaR’s forecasts but not statistically better than GARCH methods.

Keywords

References

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Article

Determinants of Port Performance – Evidence from Major Ports in India – A Panel Approach

1Department of Commerce, Pondicherry University, Pondicherry, India


International Journal of Econometrics and Financial Management. 2014, 2(5), 206-213
DOI: 10.12691/ijefm-2-5-5
Copyright © 2014 Science and Education Publishing

Cite this paper:
T. Rajasekar, Malabika Deo. Determinants of Port Performance – Evidence from Major Ports in India – A Panel Approach. International Journal of Econometrics and Financial Management. 2014; 2(5):206-213. doi: 10.12691/ijefm-2-5-5.

Correspondence to: T.  Rajasekar, Department of Commerce, Pondicherry University, Pondicherry, India. Email: rajakudal@gmail.com

Abstract

The present study’s motivation is to identify the determinant factors for port efficiency of major ports in India during 1993 – 2011. For identifying the factors panel data models like pooled ordinary least square method, fixed effect model and random effect model are used. The hypothesis tested here is outside factors also influence port performance. The results of the study indicated that berth throughput, operating expenses and number of employees affect port efficiency in a significant positive manner, whereas cargo equipment’s and idle time shows negative but significant effect on port efficiency. From the study the inference drawn that only inside factors of the ports are the major determining factors of the performance of ports compare with outside factors.

Keywords

References

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Article

Estimation of Short and Long Run Equilibrium Coefficients in Error Correction Model: An Empirical Evidence from Nepal

1Central Department of Economics, Tribhuvan Univercity, Kathmandu, Nepal


International Journal of Econometrics and Financial Management. 2014, 2(6), 214-219
DOI: 10.12691/ijefm-2-6-1
Copyright © 2014 Science and Education Publishing

Cite this paper:
Kamal Raj Dhungel. Estimation of Short and Long Run Equilibrium Coefficients in Error Correction Model: An Empirical Evidence from Nepal. International Journal of Econometrics and Financial Management. 2014; 2(6):214-219. doi: 10.12691/ijefm-2-6-1.

Correspondence to: Kamal  Raj Dhungel, Central Department of Economics, Tribhuvan Univercity, Kathmandu, Nepal. Email: kamal.raj.dhungel@gmail.com

Abstract

This study aims to investigate the short and long run equilibrium between the electricity consumption and foreign aid of Nepalese economy during 1974-2012. Unit root test, co-integration test and finally error correction model are the econometric tools to establish the relationship between electricity consumption and foreign aid. In addition to this ordinary least square method is used to find out the foreign aid elasticity and spurious regression. The findings reveal that the variables are non-stationary at their level and they become stationary in their first difference. There are two co-integration equations showing the long run relationship between electricity consumption and foreign aid. There is short and long run equilibrium as indicated by the statistically significant coefficient of foreign aid and error correction term. The long run elasticity coefficient reveals that the 1% change in foreign aid will change the electricity consumption by 0.46%. The results of ECM indicate that there is both short and long run equilibrium in the system. The coefficient of one period lag residual is negative and significant which represent the long run equilibrium. The coefficient is -0.336 meaning that system corrects its previous period disequilibrium at a speed of 33.6% annually to reach at the steady state.

Keywords

References

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