Do export and technological specialization co-evolve in renewable energy sector? An evidence from OECD countries
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This article investigates the relationship between technological and export specialization in renewable energy sector using panel data from OECD countries over the period from 1991 to 2008. The study implements heterogeneous panel unit root tests and cointegration tests, taking account of the results of the normality test for each individual time series and test for the presence of cross-section dependence. The study finds evidence that there is no co-movement among the series. Thus, the empirical model to test the casual relationship among the variables in question is based on the panel VAR model in the first differences. And the study implements panel one-step difference GMM estimation to determine the dynamic relationships between the series to deal with a simultaneity problem introduced by difference and heteroscedasticity exists in the genuine errors across the countries. With respect to causality result, the finding that lagged changes in the technological specialization impact the current changes in trade specialization combined with the finding that the reverse does not suggests that there is no a bidirectional feedback mechanism between technological and trade specialization.
Abstract
This article investigates the relationship between technological and export specialization in renewable energy sector using panel data from OECD countries over the period from 1991 to 2008. The study implements heterogeneous panel unit root tests and cointegration tests, taking account of the results of the normality test for each individual time series and test for the presence of cross-section dependence. The study finds evidence that there is no co-movement among the series. Thus, the empirical model to test the casual relationship among the variables in question is based on the panel VAR model in the first differences. And the study implements panel one-step difference GMM estimation to determine the dynamic relationships between the series to deal with a simultaneity problem introduced by difference and heteroscedasticity exists in the genuine errors across the countries. With respect to causality result, the finding that lagged changes in the technological specialization impact the current changes in trade specialization combined with the finding that the reverse does not suggests that there is no a bidirectional feedback mechanism between technological and trade specialization.
참고문헌 (37)
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