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Autor
Reklaitė Agnė (Vilnius University, Lithuania)
Tytuł
Globalisation Effect Measure Via Hierarchical Dynamic Factor Modelling
Źródło
Equilibrium, 2015, vol. 10, nr 3, s. 139-149, tab., rys., bibliogr. 23 poz.
Słowa kluczowe
Globalizacja, Rozwój gospodarczy
Globalization, Economic development
Uwagi
summ.
Kraj/Region
Litwa
Lithuania
Abstrakt
In this paper the issue of globalisation and deteriorating precision of domestically oriented frameworks is addressed. A hypothesis that the effect of international trends on the growth of economy is increasing over time is formed. In order to validate this, a method of composing foreign series with local indicators in a hierarchical dynamic factor model is presented. The novelty of this approach is that globalisation effect is measured focusing on prediction rather than similarity. This way the measure presents the country's sensitivity to global shocks and reveals how much focal country's economy is intertwined with global economy. The application was performed on the basis of Lithuanian data and the hypothesis was validated. The results indicate that globalisation effect has an increasing effect over time. (original abstract)
Pełny tekst
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Bibliografia
Pokaż
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Cytowane przez
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ISSN
1689-765X
Język
eng
URI / DOI
http://dx.doi.org/10.12775/EQUIL.2015.029
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