Nexus between Economic Policy Uncertainty and Institutional Quality: Evidence from Indian and Pakistan

被引：21
|
作者：
Qamruzzaman, Md [1 ]
机构：
[1] United Int Univ, Sch Business & Econ, Dhaka, Bangladesh
来源：
MACROECONOMICS AND FINANCE IN EMERGING MARKET ECONOMIES | 2023年 / 16卷 / 03期
关键词：
Institutional quality; economic policy uncertainty; financial openness; trade openness; asymmetry; FOREIGN DIRECT-INVESTMENT; POLITICAL INSTABILITY; ERROR-CORRECTION; INFLOWS EVIDENCE; OPENNESS; GROWTH; COINTEGRATION; DETERMINANTS; AFRICA; FLOWS;
D O I：
10.1080/17520843.2022.2026035
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The motivation of this study is to gauge the asymmetric effects of economic policy uncertainty (EPU) on institutional quality (IQ) in India (Pakistan), spanning the period 2003Q1 to 2019Q4 (2010Q1 to 2019Q4). The study applied DF-GLS and Zivot-Andrew, ARDL bound test, nonlinear ARDL and directional causal with the Toda-Yamamoto causality test. According to the combined cointegration test, the long-run economic policy uncertainty was exposed to adverse association with institutional quality in India and Pakistan. Both long-run and short-run asymmetries were confirmed between EPU and IQ. The causality test revealed the feedback hypothesis in explaining the causality between EPU and IQ.
引用
收藏
页码：389 / 408
页数：20
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