A note on testing the causal link between construction activity and economic growth in Taiwan
學年 92
學期 2
出版（發表）日期 2004-06-01
作品名稱 A note on testing the causal link between construction activity and economic growth in Taiwan
作品名稱（其他語言）
著者 聶建中; Nieh, Chien-chung; Chang, Tsang-yao
單位 淡江大學財務金融學系
出版者 Elsevier
著錄名稱、卷期、頁數 Journal of asian economics 15(3), pp.591-598
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.
關鍵字 Construction activity;Economic growth;Cointegration;Granger causality
語言 en
ISSN 1049-0078
期刊性質 國外
收錄於
產學合作
通訊作者
審稿制度 否
國別 NLD
公開徵稿
出版型式 ,紙本
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