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4 pages, 174 KiB

Open AccessEditorial

Financial Econometrics and Quantitative Economic Analysis

by Sergej Gričar, Nemanja Lojanica and Tamara Backović

J. Risk Financial Manag. 2025, 18(3), 166; https://doi.org/10.3390/jrfm18030166 - 20 Mar 2025

Viewed by 550

Since the foundational contributions of Katarina Juselius and Søren Johansen on cointegration, along with earlier works by influential scholars like Clive Granger, the field has witnessed significant developments [...] Full article

(This article belongs to the Special Issue Financial Econometrics and Quantitative Economic Analysis)

15 pages, 619 KiB

Open AccessArticle

Testing Unemployment–Entrepreneurship Nexus in Namibia Using the Schumpeterian Approach

by Johanna Pangeiko Nautwima, Asa Romeo Asa and Sulaiman Olusegun Atiku

Sustainability 2023, 15(18), 14023; https://doi.org/10.3390/su151814023 - 21 Sep 2023

Cited by 5 | Viewed by 1956

Abstract

This study uses time series data from the World Bank database to examine the relationship between unemployment and entrepreneurship in Namibia. We applied the Augmented Dickey–Fuller and Phillips–Perron tests for unit root testing and found all the variables to be stationary after the first difference. Given that, we employed the Johansen–Juselius test to measure cointegration, which revealed the absence of long-run relationships between the variables. Hence, we performed a Vector Autoregressive model to estimate the short-run relationships and found that Namibia exhibits both the refugee and Schumpeter effects. Finally, we measured the direction of causality using the Pairwise Granger causality test, and the results revealed that none of the variables Granger causes the other, implying that they are all independent of each other. This implies that the significance of entrepreneurship in addressing unemployment in Namibia is limited in the long run, mostly owing to the absence of sustainable business ventures. Therefore, we recommend prioritizing the development of policies to tackle unemployment through sustainable entrepreneurship. Full article

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16 pages, 1040 KiB

Open AccessEditorial

A Conversation with Søren Johansen

by Rocco Mosconi and Paolo Paruolo

Econometrics 2022, 10(2), 21; https://doi.org/10.3390/econometrics10020021 - 13 Apr 2022

Cited by 1 | Viewed by 4167

Abstract

This article was prepared for the Special Issue “Celebrated Econometricians: Katarina Juselius and Søren Johansen” of Econometrics. It is based on material recorded on 30 October 2018 in Copenhagen. It explores Søren Johansen’s research, and discusses inter alia the following issues: estimation and inference for nonstationary time series of the I(1), I(2) and fractional cointegration types; survival analysis; statistical modelling; likelihood; econometric methodology; the teaching and practice of Statistics and Econometrics. Full article

(This article belongs to the Special Issue Celebrated Econometricians: Katarina Juselius and Søren Johansen)

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20 pages, 983 KiB

Open AccessArticle

Are Tourism and Energy Consumption Linked? Evidence from Australia

by Avishek Khanal, Mohammad Mafizur Rahman, Rasheda Khanam and Eswaran Velayutham

Sustainability 2021, 13(19), 10800; https://doi.org/10.3390/su131910800 - 28 Sep 2021

Cited by 30 | Viewed by 5822

Abstract

Tourism contributes to the growth of an economy via earning foreign currencies and employment opportunities. However, tourism also contributes to greater energy consumption because of various tourist activities such as hotel accommodations and transportation. This study investigates the long-term cointegrating relationship between international tourist arrivals and primary energy consumption in Australia. In addition, the roles of gross domestic product, gross fixed capital formation, financial development, and total population on energy consumption are also examined. The study covered the last four decades (1976–2018) using data from the Australian Bureau of Statistics, BP Statistical Review, and the World Development Indicators. Augmented Dickey-Fuller, Phillips-Perron, Autoregressive distributed lag (ARDL) bound tests, Johansen and Juselius, Bayer-Hanck cointegration test, and several key diagnostic tests have been conducted to assess the relationship. The estimated results indicate that tourist arrivals, gross domestic product, and financial development have a significant long-run cointegrating relationship with energy consumption. Policy measures are suggested based on the findings of this study. Full article

(This article belongs to the Special Issue Sustainable Development, Environment, and Health)

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14 pages, 754 KiB

Open AccessArticle

Renewable Energy Production, Energy Consumption and Sustainable Economic Growth in Turkey: A VECM Approach

by Dilek Temiz Dinç and Ece C. Akdoğan

Sustainability 2019, 11(5), 1273; https://doi.org/10.3390/su11051273 - 28 Feb 2019

Cited by 44 | Viewed by 6461

Abstract

There exists a highly interrelated relationship between energy, the environment and growth where the efficient management of this nexus is not only a must for sustainable development and human wellbeing but is also a basis for formulating sound economic policies harnessed with energy and environmental policies. Thus, this paper aims at investigating the causal relationships among renewable energy production, total energy consumption and economic growth for Turkey both in the long and short runs. The analyses are conducted by using the Johansen–Juselius co-integration test, the vector error correction model, Granger causality, impulse-response functions and variance decomposition for the period 1980–2016. Our findings obtained for the causal relationship between renewable energy and economic growth points to a bidirectional relationship both in the short and in long runs that promote feedback hypothesis, and it also reports a causal relationship running from energy consumption to economic growth both in the short and long runs, supporting the growth hypothesis. However, no consistent result could be obtained for the short run relationship from economic growth to energy consumption. These results indicate that increased renewable energy production and decreased energy consumption are vital for Turkey’s sustainable development. Full article

(This article belongs to the Special Issue Economic Growth, Energy Consumption and Sustainable Development: The Case of Mediterranean Region)

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