A note on testing the causal link between construction activity and economic growth in Taiwan

淡江大學機構典藏 > 商管學院 > 財務金融學系暨研究所 > 期刊論文 > Item 987654321/23735

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题名:	A note on testing the causal link between construction activity and economic growth in Taiwan
作者:	聶建中;Nieh, Chien-chung;Chang, Tsang-yao
贡献者:	淡江大學財務金融學系
关键词:	Construction activity;Economic growth;Cointegration;Granger causality
日期:	2004-06
上传时间:	2009-11-30 17:51:21 (UTC+8)
出版者:	Elsevier
摘要:	In this note, using a four-variable VAR model, we empirically test the causal link between construction activity and economic growth in Taiwan over the 1979Q1–1999Q4 period. The cointegration results of Johansen [J. Econ. Dyn. Contr. 12 (1988) 231] and Johansen and Juselius [Oxford Bull. Econ. Stat. 52 (1990) 169] indicate that there exists a cointegrating vector among four variables—namely, real GDP, real investment in construction activity, real government expenditures, and real private consumption expenditures. Here, the results from Granger-causality tests based on corresponding vector error-correction models (ECM) clearly point to unidirectional causality running from construction activity to economic growth. This, the major finding of this study, has important implications with respect to developing economic policy regarding the role of construction activity in Taiwan over the test period.
關聯:	Journal of asian economics 15(3), pp.591-598
DOI:	10.1016/j.asieco.2004.04.003
显示于类别:	[財務金融學系暨研究所] 期刊論文

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