The dynamic evolution of the Greek regional net fixed capital time series

Kyriakos Emmanouilidis (), Christos Karpetis, Erotokritos Varelas and Spyros Zikos
Additional contact information
Kyriakos Emmanouilidis: University of Macedonia
Christos Karpetis: University of Macedonia
Spyros Zikos: University of Macedonia

Economic Change and Restructuring, 2017, vol. 50, issue 3, No 3, 238 pages

Abstract: Abstract This paper investigates the impact of different depreciation methods on the dynamic characteristics of the Greek regional net fixed capital series. Using annual data over the period from 1974 to 2006, Karpetis and Zikos (Int J Econ Res 11(2):333–354, 2014) constructed the series of nominal net fixed capital in the case of the thirteen administrative regions of Greece, applying four different depreciation methods of capital. In the context of the present analysis, these series were initially deflated, using the country’s G.D.P. deflator (2005 = 100), and subsequently were exploited to investigate their dynamic characteristics through estimation of the best fitted ARIMA(p,d,q) models and determination of the roots of the characteristic polynomials. The statistical findings reveal, firstly, the impact of the employed depreciation methods of capital on the evolutionary pattern (monotonic or sinusoidal) of the series and secondly, the slow convergence of the Greek regional net fixed capital towards its long-run equilibrium value.

Keywords: Net capital series; Dynamic evolution; ARIMA models; Characteristic roots; Depreciation methods; C22; C62; E22 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s10644-017-9209-2 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:ecopln:v:50:y:2017:i:3:d:10.1007_s10644-017-9209-2

Ordering information: This journal article can be ordered from
http://www.springer. ... nt/journal/10644/PS2

DOI: 10.1007/s10644-017-9209-2

Access Statistics for this article

Economic Change and Restructuring is currently edited by George Hondroyiannis

More articles in Economic Change and Restructuring from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().