Comparing parametric and semiparametric error correction models for estimation of long run equilibrium between exports and imports

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dc.contributor.authorDe-Graft Acquah, Henry
dc.contributor.authorAcheampong, Lawrence
dc.date.accessioned2021-06-28T11:16:07Z
dc.date.available2021-06-28T11:16:07Z
dc.date.issued2017-06-30
dc.description.abstractThis paper introduces the semiparametric error correction model for estimation of export-import relationship as an alternative to the least squares approach. The intent is to demonstrate how semiparametric error correction model can be used to estimate the relationship between Ghana’s export and import within the context of a generalized additive modelling (GAM) framework. The semiparametric results are compared to common parametric specification using the ordinary least squares regression. The results from the semiparametric and parametric error correction models (ECM) indicate that the error correction term and import variable are significant determinants of Ghana’s exports. On the basis of Akaike Information Criteria and Generalized Cross-Validation (GCV) scores, it is found that the semiparametric error correction model provides a better fit than the widely used parametric error correction model for modeling Ghana’s export-import relationship. The results of the analysis of variance provide further evidence of nonlinearity in Ghana’s export and import relationship. In effect, this paper demonstrates the usefulness of semiparametric error correction model in the estimation of export – import relationship. JEL code: C14, C18, C22, F10, F14en
dc.formatapplication/pdf
dc.identifier.citationApplied Studies in Agribusiness and Commerce, Vol. 11 No. 1-2 (2017) , 19-23
dc.identifier.doihttps://doi.org/10.19041/APSTRACT/2017/1-2/3
dc.identifier.eissn1789-7874
dc.identifier.issn1789-221X
dc.identifier.issue1-2
dc.identifier.jatitleAPSTRACT
dc.identifier.jtitleApplied Studies in Agribusiness and Commerce
dc.identifier.urihttps://hdl.handle.net/2437/317808en
dc.identifier.volume11
dc.languageen
dc.relationhttps://ojs.lib.unideb.hu/apstract/article/view/6930
dc.rights.accessOpen Access
dc.rights.ownerUniversity of Debrecen, Faculty of Economics and Business, Hungary
dc.subjectExportsen
dc.subjectimportsen
dc.subjectsemiparametricen
dc.subjectnonlinearityen
dc.subjectgeneralized additive modelen
dc.subjectECMen
dc.titleComparing parametric and semiparametric error correction models for estimation of long run equilibrium between exports and importsen
dc.typefolyóiratcikkhu
dc.typearticleen
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