Asymmetric effect of government debt on GDP growth: evidence from Namibia
https://doi.org/10.3326/pse.45.4.7 | Published online: December 6, 2021 Figure 1
Namibian government debt as a percentage of GDP, 1981-2019 Table 1
Descriptive statistics
Table 2
Pair-wise correlation matrix
Note: p-values are in brackets. Source: Computed by the authors. Table 3
BDS test for nonlinearity
Note: Probability for all dimensions is zero. Source: Computed by the authors. Table 4
Nonlinear unit root test
Table 5
NARDL bounds cointegration results
Notes: *** 1% significance level, **5% significance level, *10% significance level. Null hypothesis: no asymmetric cointegration. Alternative hypothesis: asymmetric cointegration. Rejection rule: reject null hypothesis if F-statistics is greater than the upper limit. Source: Computed by the authors. Table 6
NARDL long-run parameter estimation
Notes: *** 1% significance level, **5% significance level, *10% significance level. Dependent variable: D(GDP). Source: Computed by the authors. Table 7
Short run NARDL estimation
Notes: *** 1% significance level, **5% significance level, *10% significance level. p-values are in brackets. Dependent variable: D(GDP). Source: Computed by the authors.
Figure 2
Stability diagnostics Table 8
Long-run and short run asymmetric test Notes: *** 1% significance level, **5% significance level, *10% significance level. Source: Computed by the authors. Figure 3
NARDL dynamic multiplier graph Figure 1 Namibian government debt as a percentage of GDP, 1981-2019 DISPLAY Figure Table 1 Descriptive statistics DISPLAY Table Table 2 Pair-wise correlation matrix DISPLAY Table Table 3 BDS test for nonlinearity DISPLAY Table Table 4 Nonlinear unit root test DISPLAY Table Table 5 NARDL bounds cointegration results DISPLAY Table Table 6 NARDL long-run parameter estimation DISPLAY Table Table 7 Short run NARDL estimation DISPLAY Table Figure 2 Stability diagnostics DISPLAY Figure Table 8 Long-run and short run asymmetric test DISPLAY Table Figure 3 NARDL dynamic multiplier graph DISPLAY Figure |
December, 2021 IV/2021 |