Titulo:
Revisando el nexo entre la inflación y el crecimiento en Bangladesh: una cointegración asimétrica basada en un enfoque ARDL no lineal
.
Sumario:
El alto crecimiento económico sostenible es el principal objetivo de un país. Considerando que la inflación es uno de los factores críticos que afectan el desarrollo económico. El nexo crecimiento-inflación es uno de los temas más controvertidos en el mundo actual. Este estudio vuelve a investigar el vínculo entre la inflación y el desarrollo económico de Bangladesh mediante el empleo de un enfoque no lineal autorregresivo distribuido rezagado (NARDL). Para este estudio, utilizamos un conjunto de datos de series de tiempo anuales sobre la tasa de crecimiento del producto interno bruto per cápita y la tasa de inflación para el rango de tiempo de 1986 a 2017. El resultado de cointegración asimétrica basado en el enfoque NARDL muestra la confi... Ver más
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Revisando el nexo entre la inflación y el crecimiento en Bangladesh: una cointegración asimétrica basada en un enfoque ARDL no lineal Revisiting inflation and growth nexus in Bangladesh: an asymmetric cointegration based on non-linear ARDL approach El alto crecimiento económico sostenible es el principal objetivo de un país. Considerando que la inflación es uno de los factores críticos que afectan el desarrollo económico. El nexo crecimiento-inflación es uno de los temas más controvertidos en el mundo actual. Este estudio vuelve a investigar el vínculo entre la inflación y el desarrollo económico de Bangladesh mediante el empleo de un enfoque no lineal autorregresivo distribuido rezagado (NARDL). Para este estudio, utilizamos un conjunto de datos de series de tiempo anuales sobre la tasa de crecimiento del producto interno bruto per cápita y la tasa de inflación para el rango de tiempo de 1986 a 2017. El resultado de cointegración asimétrica basado en el enfoque NARDL muestra la confirmación de ejecutar la integración entre la tasa de crecimiento del PIB y la tasa de inflación (IPC). El estudio encuentra un nexo positivo y sólido entre la tasa de crecimiento y la tasa de inflación. La relación existe tanto a largo como a corto plazo. Los resultados también son estadísticamente significativos. Este estudio explora además que existe una relación asimétrica entre la tasa de inflación y la tasa de crecimiento económico. El enfoque ARDL no lineal muestra que la tasa de crecimiento del PIB responde más con un cambio ascendente en la inflación que con un cambio descendente. Sustainable high economic growth is the major objective of a country. Whereas inflation is one of the critical factors that affect economic development. Growth-inflation nexus is one of the most controversial topics in this present world. This study re-investigates the link between inflation and the economic development of Bangladesh by employing a non-linear autoregressive distributed lagged (NARDL) approach. For this study, we use annual time series data set on the growth rate of per capita gross domestic product, and the inflation rate for the time range from 1986 to 2017. The asymmetric cointegration result based on the NARDL approach shows the confirmation of long-run integration between the GDP growth rate and inflation rate (CPI). The study finds a positive and robust nexus between growth rate and inflation rate. The relationship exists both in the long-run as well as in the short-run. The results also have statistically significant. This study further explores that there is an asymmetric relationship between the rate of inflation and the rate of economic growth. The nonlinear ARDL approach shows that the GDP growth rate responds more with an upward change in inflation than that of a downward change. Furthermore, in the short-run, the positive change in inflations has a significant and positive influence on the growth rate. Still, the influence of an adverse change in inflations has statistically insignificant. Both the policymakers of Bangladesh (Bangladesh Bank) and development partners working in the country can be benefited from these results in the context of policy implementation. This study recommends that to boosting up the economic growth in the context of Bangladesh, the inflation rate can be treated as a significant determination. Akter Hossain, Mohammed Acet, Hakan Ahmed, Zobayer Majumder, Alauddin asymmetric co-integration Bangladesh economic growth inflation Non-linear Autoregressive Distributed Lagged (NARDL) Model Cointegración asimétrica Bangladesh Crecimiento económico Inflación Modelo de distribución rezagada no lineal autorregresivo (NARDL) 13 2 Núm. 2 , Año 2021 :Vol. 13 Núm. 2 (2021) Artículo de revista Journal article 2021-09-08T00:00:00Z 2021-09-08T00:00:00Z 2021-09-08 text/html application/pdf text/xml Universidad Católica de Colombia Revista Finanzas y Política Económica 2248-6046 2011-7663 https://revfinypolecon.ucatolica.edu.co/article/view/3914 10.14718/revfinanzpolitecon.v13.n2.2021.5 https://doi.org/10.14718/revfinanzpolitecon.v13.n2.2021.5 eng https://creativecommons.org/licenses/by-nc-sa/4.0 Zobayer Ahmed - 2021 Esta obra está bajo una licencia internacional Creative Commons Atribución-NoComercial-CompartirIgual 4.0. 371 402 Abdlaziz, R. A., Rahim, K. A., & Adamu, P. (2016). Oil and Food Prices Cointegration Nexus for Indonesia: A Nonlinear Autoregressive Distributed Lag Analysis. International Journal of Energy Economics and Policy, 6(61), 82–87. Retrieved from http:%5Cnwww.econjournals.com Ahmed, S. (2005). Inflation and Economic Growth in Bangladesh : 1981-2005 Policy Analysis Unit * ( PAU ) Working Paper Series : WP 0604 Inflation and Economic Growth in Bangladesh : 1981-2005, (December). Ahmed, S., & Mortaza, M. (2010). Inflation and economic growth in Bangladesh: 1981-2005. Retrieved from https://ideas.repec.org/p/ess/wpaper/id3033.html AYDIN, C. 2017. The inflation-growth nexus: A dynamic panel threshold analysis for D-8 countries. Romanian Journal of Economic Forecasting, 20, 134-151. Ayyoub, M., Chaudhry, I. S., & Farooq, F. (2011). Does Inflation Affect Economic Growth? The case of Pakistan. Pakistan Journal of Social Sciences (PJSS), 31(1), 51–64. Retrieved from http://www.bzu.edu.pk/PJSS/Vol31No12011/Final_PJSS-31-1-05.pdf Barcola, M. & Kebalo, L. (2018). Inflation-growth nexus and regional integration in West Africa. Journal of Economics and Development Studies, 6, 54-66. https://doi.org/10.2139/ssrn.3280476 Chimobi, O. P. (2010). Inflation and Economic Growth in Nigeria, 3(2), 159–166. https://doi.org/10.3386/w5326 Dickey, D., association, W. F. the A. statistical, & 1979, undefined. (n.d.). Distribution of the estimators for autoregressive time series with a unit root. Taylor & Francis. Retrieved from https://www.tandfonline.com/doi/abs/10.1080/01621459.1979.10482531 Dufrénot, G., & Mignon, V. (2002). Recent Developments in Nonlinear Cointegration with Applications to Macroeconomics and Finance. Boston, MA: Springer US. https://doi.org/10.1007/978-1-4757-3615-1 Econometrics, M. O.-S. in E. and, (2007), undefined. (n.d.). A modelling of Ghana's inflation experience: 1960-2003. Ingentaconnect.Com. Retrieved from https://www.ingentaconnect.com/content/sabinet/bersee/2007/00000031/00000001/art00006 Enders, W. (2008). Applied econometric time series. Retrieved from https://scholar.google.ca/scholar?hl=en&as_sdt=0,5&q=Enders,+Walter.+Applied+Econometric+Time+Series.+Hoboken:+Wiley,+2015.+Print.&btnG&pli=1 Feldstein, M. (1980). Inflation, tax rules, and investment: Some econometric evidence. https://doi.org/10.3386/w0577 Fischer, S., Economics, F. M.-R. of W., & (1978), undefined. (n.d.). Towards an understanding of the real effects and costs of inflation. Springer. Retrieved from https://link.springer.com/article/10.1007/BF02696381 Fountas, S. (2001). The relationship between inflation and inflation uncertainty in the UK: 1885-1998. Economics Letters, 74(1), 77–83. https://doi.org/10.1016/S0165-1765(01)00522-5 Gregorio, J. (1999). Inflation, growth, and central banks: theory and evidence. Retrieved from https://elibrary.worldbank.org/doi/abs/10.1596/1813-9450-1575 Gujarati, D. N. (2009). Basic econometrics. Tata McGraw-Hill Education. Ibrahim, M. H. (2015). Oil and food prices in Malaysia: a nonlinear ARDL analysis. Agricultural and Food Economics, 3(1). https://doi.org/10.1186/s40100-014-0020-3 Khan, M., papers, A. S.-I. S., & 2001, undefined. (n.d.). Threshold effects in the relationship between inflation and growth. Springer. Retrieved from https://link.springer.com/article/10.2307/4621658 MacKinnon, J. (1991). Critical Values for Co-integration Tests." In RF Engle and CWJ Granger (Eds.), Long-Run Economic Relationships. Oxford: Oxford Univ. Press. Madurapperuma, W. (2016). Impact of inflation on economic growth in Sri Lanka. Journal of World Economic Research, 5, 1-7. https://doi.org/10.11648/j.jwer.20160501.11 Mahmud. (1997). Growth or Stagnation? - A Review of Bangladesh's Development 1996 | The University Press Limited (p. 513). Dhaka,Bangladesh: Centre For Policy Dialogue (CPD). https://doi.org/978 984 05 1388 8 Mallik, G., Chowdhury, A., & Wai, T. (2001). Inflation And Economic Growth : Evidence From Four South Asian Countries, Asia-Pacific Development Journal 8(1), 123–135. Mallik, G., Journal, A. C.-A.-P. D., & 2001, U. (n.d.). Inflation and economic growth: evidence from four south Asian countries. Academia.Edu. Retrieved from http://www.academia.edu/download/44781745/Inflation_and_economic_growth_evidence_f20160415-28548-oejbvn.pdf Mamo, F. T. (2012). Economic Growth and Inflation A panel data analysis. Economics, 1–44. Mubarik, Y., & Riazuddin, R. (2005). Inflation and growth: An estimate of the threshold level of inflation in Pakistan. Retrieved from http://www.sbp.org.pk/research/bulletin/2005/Article-3.pdf Mundell, R. A. (1965). Growth, Stability, and Inflationary Finance. Journal of Political Economy, 73(2), 97–109. https://doi.org/10.1086/258999 Munir, Q., Mansur, K., & Furuoka, F. (2009). Inflation and Economic Growth in Malaysia — A Threshold Regression Approach. ASEAN Economic Bulletin, 26(2),180. https://doi.org/10.1355/ae26-2d Omay, T., Van Eyden, R. & Gupta, R. (2018). Inflation–growth nexus: evidence from a pooled CCE multiple-regime panel smooth transition model. Empirical Economics, 54, 913-944. Paul, S., Kearney, C., Economics, K. C.-A., & (1997), undefined. (n.d.). Inflation and economic growth: a multi-country empirical analysis. Taylor & Francis. Retrieved from https://www.tandfonline.com/doi/abs/10.1080/00036849700000029 Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289–326. https://doi.org/10.1002/jae.616 Phillips, P., Biometrika, P. P.-, & (1988), undefined. (n.d.). Testing for a unit root in time series regression. Academic.Oup.Com. Retrieved from https://academic.oup.com/biomet/article-abstract/75/2/335/292919 Research, M. M.-J. of W. E., & (2016), U. (n.d.). Impact of inflation on economic growth in Sri Lanka. Researchgate.Net. Retrieved from https://www.researchgate.net/profile/Wasanthi_Madurapperuma/publication/304771434_Impact_of_Inflation_on_Economic_Growth_in_Sri_Lanka/links/577a09d108ae1b18a7e6275a.pdf Sarel, M. (1996). Nonlinear Effects of Inflation on Economic Growth. Staff Papers - International Monetary Fund, 43(1), 199. https://doi.org/10.2307/3867357 Shin, Y., Yu, B., & Greenwood-Nimmo, M. (2014). Modelling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL Framework. Festschrift in Honor of Peter Schmidt, 281–314. https://doi.org/10.1007/978-1-4899-8008-3_9 Society, J. T.-E. J. of the E., & (1965), Money and economic growth. JSTOR. Retrieved from https://www.jstor.org/stable/1910352 Sweidan, O. D. (2004). Does inflation harm economic growth in Jordan? An econometric analysis for the period 1970-2000. International Journal of Applied Econometrics and Quantitative Studies, 1(February 2004), 41–66. https://doi.org/10.1109/MSPEC.2004.1265112 https://revfinypolecon.ucatolica.edu.co/article/download/3914/4014 https://revfinypolecon.ucatolica.edu.co/article/download/3914/3919 https://revfinypolecon.ucatolica.edu.co/article/download/3914/4249 info:eu-repo/semantics/article http://purl.org/coar/resource_type/c_6501 http://purl.org/coar/resource_type/c_2df8fbb1 http://purl.org/redcol/resource_type/ART info:eu-repo/semantics/publishedVersion http://purl.org/coar/version/c_970fb48d4fbd8a85 info:eu-repo/semantics/openAccess http://purl.org/coar/access_right/c_abf2 Text Publication |
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UNIVERSIDAD CATÓLICA DE COLOMBIA |
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https://nuevo.metarevistas.org/UNIVERSIDADCATOLICADECOLOMBIA/logo.png |
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Colombia |
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Revista Finanzas y Política Económica |
| title |
Revisando el nexo entre la inflación y el crecimiento en Bangladesh: una cointegración asimétrica basada en un enfoque ARDL no lineal |
| spellingShingle |
Revisando el nexo entre la inflación y el crecimiento en Bangladesh: una cointegración asimétrica basada en un enfoque ARDL no lineal Akter Hossain, Mohammed Acet, Hakan Ahmed, Zobayer Majumder, Alauddin asymmetric co-integration Bangladesh economic growth inflation Non-linear Autoregressive Distributed Lagged (NARDL) Model Cointegración asimétrica Bangladesh Crecimiento económico Inflación Modelo de distribución rezagada no lineal autorregresivo (NARDL) |
| title_short |
Revisando el nexo entre la inflación y el crecimiento en Bangladesh: una cointegración asimétrica basada en un enfoque ARDL no lineal |
| title_full |
Revisando el nexo entre la inflación y el crecimiento en Bangladesh: una cointegración asimétrica basada en un enfoque ARDL no lineal |
| title_fullStr |
Revisando el nexo entre la inflación y el crecimiento en Bangladesh: una cointegración asimétrica basada en un enfoque ARDL no lineal |
| title_full_unstemmed |
Revisando el nexo entre la inflación y el crecimiento en Bangladesh: una cointegración asimétrica basada en un enfoque ARDL no lineal |
| title_sort |
revisando el nexo entre la inflación y el crecimiento en bangladesh: una cointegración asimétrica basada en un enfoque ardl no lineal |
| title_eng |
Revisiting inflation and growth nexus in Bangladesh: an asymmetric cointegration based on non-linear ARDL approach |
| description |
El alto crecimiento económico sostenible es el principal objetivo de un país. Considerando que la inflación es uno de los factores críticos que afectan el desarrollo económico. El nexo crecimiento-inflación es uno de los temas más controvertidos en el mundo actual. Este estudio vuelve a investigar el vínculo entre la inflación y el desarrollo económico de Bangladesh mediante el empleo de un enfoque no lineal autorregresivo distribuido rezagado (NARDL). Para este estudio, utilizamos un conjunto de datos de series de tiempo anuales sobre la tasa de crecimiento del producto interno bruto per cápita y la tasa de inflación para el rango de tiempo de 1986 a 2017. El resultado de cointegración asimétrica basado en el enfoque NARDL muestra la confirmación de ejecutar la integración entre la tasa de crecimiento del PIB y la tasa de inflación (IPC). El estudio encuentra un nexo positivo y sólido entre la tasa de crecimiento y la tasa de inflación. La relación existe tanto a largo como a corto plazo. Los resultados también son estadísticamente significativos. Este estudio explora además que existe una relación asimétrica entre la tasa de inflación y la tasa de crecimiento económico. El enfoque ARDL no lineal muestra que la tasa de crecimiento del PIB responde más con un cambio ascendente en la inflación que con un cambio descendente.
|
| description_eng |
Sustainable high economic growth is the major objective of a country. Whereas inflation is one of the critical factors that affect economic development. Growth-inflation nexus is one of the most controversial topics in this present world. This study re-investigates the link between inflation and the economic development of Bangladesh by employing a non-linear autoregressive distributed lagged (NARDL) approach. For this study, we use annual time series data set on the growth rate of per capita gross domestic product, and the inflation rate for the time range from 1986 to 2017. The asymmetric cointegration result based on the NARDL approach shows the confirmation of long-run integration between the GDP growth rate and inflation rate (CPI). The study finds a positive and robust nexus between growth rate and inflation rate. The relationship exists both in the long-run as well as in the short-run. The results also have statistically significant. This study further explores that there is an asymmetric relationship between the rate of inflation and the rate of economic growth. The nonlinear ARDL approach shows that the GDP growth rate responds more with an upward change in inflation than that of a downward change.
Furthermore, in the short-run, the positive change in inflations has a significant and positive influence on the growth rate. Still, the influence of an adverse change in inflations has statistically insignificant. Both the policymakers of Bangladesh (Bangladesh Bank) and development partners working in the country can be benefited from these results in the context of policy implementation. This study recommends that to boosting up the economic growth in the context of Bangladesh, the inflation rate can be treated as a significant determination.
|
| author |
Akter Hossain, Mohammed Acet, Hakan Ahmed, Zobayer Majumder, Alauddin |
| author_facet |
Akter Hossain, Mohammed Acet, Hakan Ahmed, Zobayer Majumder, Alauddin |
| topic |
asymmetric co-integration Bangladesh economic growth inflation Non-linear Autoregressive Distributed Lagged (NARDL) Model Cointegración asimétrica Bangladesh Crecimiento económico Inflación Modelo de distribución rezagada no lineal autorregresivo (NARDL) |
| topic_facet |
asymmetric co-integration Bangladesh economic growth inflation Non-linear Autoregressive Distributed Lagged (NARDL) Model Cointegración asimétrica Bangladesh Crecimiento económico Inflación Modelo de distribución rezagada no lineal autorregresivo (NARDL) |
| topicspa_str_mv |
Cointegración asimétrica Bangladesh Crecimiento económico Inflación Modelo de distribución rezagada no lineal autorregresivo (NARDL) |
| citationvolume |
13 |
| citationissue |
2 |
| citationedition |
Núm. 2 , Año 2021 :Vol. 13 Núm. 2 (2021) |
| publisher |
Universidad Católica de Colombia |
| ispartofjournal |
Revista Finanzas y Política Económica |
| source |
https://revfinypolecon.ucatolica.edu.co/article/view/3914 |
| language |
eng |
| format |
Article |
| rights |
https://creativecommons.org/licenses/by-nc-sa/4.0 Zobayer Ahmed - 2021 Esta obra está bajo una licencia internacional Creative Commons Atribución-NoComercial-CompartirIgual 4.0. info:eu-repo/semantics/openAccess http://purl.org/coar/access_right/c_abf2 |
| references_eng |
Abdlaziz, R. A., Rahim, K. A., & Adamu, P. (2016). Oil and Food Prices Cointegration Nexus for Indonesia: A Nonlinear Autoregressive Distributed Lag Analysis. International Journal of Energy Economics and Policy, 6(61), 82–87. Retrieved from http:%5Cnwww.econjournals.com Ahmed, S. (2005). Inflation and Economic Growth in Bangladesh : 1981-2005 Policy Analysis Unit * ( PAU ) Working Paper Series : WP 0604 Inflation and Economic Growth in Bangladesh : 1981-2005, (December). Ahmed, S., & Mortaza, M. (2010). Inflation and economic growth in Bangladesh: 1981-2005. Retrieved from https://ideas.repec.org/p/ess/wpaper/id3033.html AYDIN, C. 2017. The inflation-growth nexus: A dynamic panel threshold analysis for D-8 countries. Romanian Journal of Economic Forecasting, 20, 134-151. Ayyoub, M., Chaudhry, I. S., & Farooq, F. (2011). Does Inflation Affect Economic Growth? The case of Pakistan. Pakistan Journal of Social Sciences (PJSS), 31(1), 51–64. Retrieved from http://www.bzu.edu.pk/PJSS/Vol31No12011/Final_PJSS-31-1-05.pdf Barcola, M. & Kebalo, L. (2018). Inflation-growth nexus and regional integration in West Africa. Journal of Economics and Development Studies, 6, 54-66. https://doi.org/10.2139/ssrn.3280476 Chimobi, O. P. (2010). Inflation and Economic Growth in Nigeria, 3(2), 159–166. https://doi.org/10.3386/w5326 Dickey, D., association, W. F. the A. statistical, & 1979, undefined. (n.d.). Distribution of the estimators for autoregressive time series with a unit root. Taylor & Francis. Retrieved from https://www.tandfonline.com/doi/abs/10.1080/01621459.1979.10482531 Dufrénot, G., & Mignon, V. (2002). Recent Developments in Nonlinear Cointegration with Applications to Macroeconomics and Finance. Boston, MA: Springer US. https://doi.org/10.1007/978-1-4757-3615-1 Econometrics, M. O.-S. in E. and, (2007), undefined. (n.d.). A modelling of Ghana's inflation experience: 1960-2003. Ingentaconnect.Com. Retrieved from https://www.ingentaconnect.com/content/sabinet/bersee/2007/00000031/00000001/art00006 Enders, W. (2008). Applied econometric time series. Retrieved from https://scholar.google.ca/scholar?hl=en&as_sdt=0,5&q=Enders,+Walter.+Applied+Econometric+Time+Series.+Hoboken:+Wiley,+2015.+Print.&btnG&pli=1 Feldstein, M. (1980). Inflation, tax rules, and investment: Some econometric evidence. https://doi.org/10.3386/w0577 Fischer, S., Economics, F. M.-R. of W., & (1978), undefined. (n.d.). Towards an understanding of the real effects and costs of inflation. Springer. Retrieved from https://link.springer.com/article/10.1007/BF02696381 Fountas, S. (2001). The relationship between inflation and inflation uncertainty in the UK: 1885-1998. Economics Letters, 74(1), 77–83. https://doi.org/10.1016/S0165-1765(01)00522-5 Gregorio, J. (1999). Inflation, growth, and central banks: theory and evidence. Retrieved from https://elibrary.worldbank.org/doi/abs/10.1596/1813-9450-1575 Gujarati, D. N. (2009). Basic econometrics. Tata McGraw-Hill Education. Ibrahim, M. H. (2015). Oil and food prices in Malaysia: a nonlinear ARDL analysis. Agricultural and Food Economics, 3(1). https://doi.org/10.1186/s40100-014-0020-3 Khan, M., papers, A. S.-I. S., & 2001, undefined. (n.d.). Threshold effects in the relationship between inflation and growth. Springer. Retrieved from https://link.springer.com/article/10.2307/4621658 MacKinnon, J. (1991). Critical Values for Co-integration Tests." In RF Engle and CWJ Granger (Eds.), Long-Run Economic Relationships. Oxford: Oxford Univ. Press. Madurapperuma, W. (2016). Impact of inflation on economic growth in Sri Lanka. Journal of World Economic Research, 5, 1-7. https://doi.org/10.11648/j.jwer.20160501.11 Mahmud. (1997). Growth or Stagnation? - A Review of Bangladesh's Development 1996 | The University Press Limited (p. 513). Dhaka,Bangladesh: Centre For Policy Dialogue (CPD). https://doi.org/978 984 05 1388 8 Mallik, G., Chowdhury, A., & Wai, T. (2001). Inflation And Economic Growth : Evidence From Four South Asian Countries, Asia-Pacific Development Journal 8(1), 123–135. Mallik, G., Journal, A. C.-A.-P. D., & 2001, U. (n.d.). Inflation and economic growth: evidence from four south Asian countries. Academia.Edu. Retrieved from http://www.academia.edu/download/44781745/Inflation_and_economic_growth_evidence_f20160415-28548-oejbvn.pdf Mamo, F. T. (2012). Economic Growth and Inflation A panel data analysis. Economics, 1–44. Mubarik, Y., & Riazuddin, R. (2005). Inflation and growth: An estimate of the threshold level of inflation in Pakistan. Retrieved from http://www.sbp.org.pk/research/bulletin/2005/Article-3.pdf Mundell, R. A. (1965). Growth, Stability, and Inflationary Finance. Journal of Political Economy, 73(2), 97–109. https://doi.org/10.1086/258999 Munir, Q., Mansur, K., & Furuoka, F. (2009). Inflation and Economic Growth in Malaysia — A Threshold Regression Approach. ASEAN Economic Bulletin, 26(2),180. https://doi.org/10.1355/ae26-2d Omay, T., Van Eyden, R. & Gupta, R. (2018). Inflation–growth nexus: evidence from a pooled CCE multiple-regime panel smooth transition model. Empirical Economics, 54, 913-944. Paul, S., Kearney, C., Economics, K. C.-A., & (1997), undefined. (n.d.). Inflation and economic growth: a multi-country empirical analysis. Taylor & Francis. Retrieved from https://www.tandfonline.com/doi/abs/10.1080/00036849700000029 Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289–326. https://doi.org/10.1002/jae.616 Phillips, P., Biometrika, P. P.-, & (1988), undefined. (n.d.). Testing for a unit root in time series regression. Academic.Oup.Com. Retrieved from https://academic.oup.com/biomet/article-abstract/75/2/335/292919 Research, M. M.-J. of W. E., & (2016), U. (n.d.). Impact of inflation on economic growth in Sri Lanka. Researchgate.Net. Retrieved from https://www.researchgate.net/profile/Wasanthi_Madurapperuma/publication/304771434_Impact_of_Inflation_on_Economic_Growth_in_Sri_Lanka/links/577a09d108ae1b18a7e6275a.pdf Sarel, M. (1996). Nonlinear Effects of Inflation on Economic Growth. Staff Papers - International Monetary Fund, 43(1), 199. https://doi.org/10.2307/3867357 Shin, Y., Yu, B., & Greenwood-Nimmo, M. (2014). Modelling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL Framework. Festschrift in Honor of Peter Schmidt, 281–314. https://doi.org/10.1007/978-1-4899-8008-3_9 Society, J. T.-E. J. of the E., & (1965), Money and economic growth. JSTOR. Retrieved from https://www.jstor.org/stable/1910352 Sweidan, O. D. (2004). Does inflation harm economic growth in Jordan? An econometric analysis for the period 1970-2000. International Journal of Applied Econometrics and Quantitative Studies, 1(February 2004), 41–66. https://doi.org/10.1109/MSPEC.2004.1265112 |
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2011-7663 |
| doi |
10.14718/revfinanzpolitecon.v13.n2.2021.5 |
| citationstartpage |
371 |
| citationendpage |
402 |
| url3_str_mv |
https://revfinypolecon.ucatolica.edu.co/article/download/3914/4014 |
| url2_str_mv |
https://revfinypolecon.ucatolica.edu.co/article/download/3914/3919 |
| url4_str_mv |
https://revfinypolecon.ucatolica.edu.co/article/download/3914/4249 |
| _version_ |
1811200171054202880 |