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Bayesian nonlinear panel cointegration: an empirical application to the EKC hypothesis

Michael Polemis () and Mike Tsionas

Letters in Spatial and Resource Sciences, 2019, vol. 12, issue 2, No 3, 113-120

Abstract: Abstract In this paper we employ a new Bayesian approach within a cointegrating regression framework along the lines of Breitung (J Bus Econ Stat 19:331–340, 2001). We extend this fully to the case of panel data framework with general cross-sectional dependence. We argue that our Bayesian technique does not depend on asymptotic critical values and in our empirical application we do find strong evidence of nonlinear cointegrated relationships between local (SO2 and NOX) and global (CO2) emissions with the level of economic growth.

Keywords: Bayesian inference; EKC hypothesis; Nonlinear panel cointegration; MCMC; Posterior distribution (search for similar items in EconPapers)
JEL-codes: C11 C23 Q4 (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1007/s12076-019-00230-4

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