Please use this identifier to cite or link to this item:
Title: Interdependence of Macroeconomic Factors and Economic Growth in OECD Countries: Evidence Based on a Bayesian Panel VAR Model
Authors: Wilawan Srichaikul
Woraphon Yamaka
Authors: Wilawan Srichaikul
Woraphon Yamaka
Keywords: Computer Science;Decision Sciences;Economics, Econometrics and Finance;Engineering;Mathematics
Issue Date: 1-Jan-2022
Abstract: This study examines the interdependency between macroeconomics factors, specifically financial development, industrial structure, and gross capital formation and economic growth in OECD countries including Austria, Belgium, Denmark, France, Greece, Iceland, Ireland, Italy, Luxembourg, Norway, the Netherlands, Portugal, United Kingdom, Sweden, Switzerland, Turkey, United States, and Germany. We use panel data of these 18 countries from 2001 to 2016 to examine their macroeconomic interdependency using the Bayesian panel vector autoregression model. Four different priors are used to combine with the likelihood of the model, and the results show that stochastic search variable selection prior is selected as it gives the lowest MSE and MAD. The empirical results show that there exists the interdependence among macroeconomic factors and economic growth in OECD countries.
ISSN: 21984190
Appears in Collections:CMUL: Journal Articles

Files in This Item:
There are no files associated with this item.

Items in CMUIR are protected by copyright, with all rights reserved, unless otherwise indicated.