Does globalization promote real output? Evidence from quantile cointegration regression

作者：Chang Chun Ping; Lee Chien Chiang^*; Hsieh Meng Chi

来源：Economic Modelling, 2015, 44: 25-36.

DOI：10.1016/j.econmod.2014.09.018

• Globalization
• Real output
• Quantile analysis
• Cointegration

This study examines the non-linear cointegration relationship between real output and KOF indices of globalization (overall index and three main sub-indices) by employing the advanced quantile method. Based on using the annual data of G7 countries, our empirical results provide strong evidence that the cointegrating coefficients follow the time-varying process. Our findings imply that most of these long-run relationships are influenced by potential shocks over time rather than maintaining a constant effect consistently. Overall, the contributions of this study not only stress the importance of quantile property in the cointegration models, but also provide the viewpoint of a long-run effect that overall and three-dimension globalizations act as engines of real output.

• 出版日期2015-1
• 单位中山大学