Impact of economic globalization on human capital: Evidence from Nigerian economy

Investment in human capital in relation to global world is to achieve an optimum return in terms of a gainful employment, productivity and high standard of living. This paper uses autoregressive distributed lag model to determine the cointegration, long run and short run elasticities among human capital, economic growth, economic globalization and foreign direct investment (FDI), for the period 1980-2011. The empirical results reveal that there is a long run relationship among the variables tested in this study. Also, economic growth and FDI show a positive impact on human capital and economic globalization indicates a negative impact on human capital in Nigeria

An investigation of long range reliance on shale oil and shale gas production in the U.S. market.

Despite the rising profiles of both shale oil and shale gas plays in the U.S. and the importance of testing for their persistence, no study has examined the persistence of the availability of shale oil and shale gas plays in the country. This paper focuses on the analysis of shale oil and shale gas production using long range dependence techniques in the U.S. for the period, January 2000 to April 2019. The empirical findings illustrate that the series examined are highly persistent, finding very little evidence of mean reverting patterns. Among the implications of the results, which are discussed in the paper, is that there is a hysteresis in shale oil and gas production in U.S., and therefore shocks resulting from new government policies relating to shale oil and gas in U.S. will have lasting impacts on their production. Besides, it will not be feasible to use forecasting as a basic instrument for unconventional energy sources as the previous values of shale oil and gas production cannot be utilised to accurately forecast their subsequent values.pre-print606 K

Fractional persistence in income poverty in Africa.

This paper examines income poverty in Africa by looking at the time series properties of the series corresponding to the household consumer expenditures in 53 African countries. Using fractional integration the results indicate that the series are highly persistent, displaying orders of integration in the interval (0, 1) in some countries or values equal to or higher than 1 in some others. The main implication of the empirical findings is that long term policies aimed at addressing income poverty in the continent such as the policies on expansion of infrastructure and social amenities will have have long-lasting effects on poverty reduction.pre-print986 K

Persistence of sulfur dioxide emissions in OECD countries between 1750-2014: A fractional integration approach.

In this paper, the degree of persistence of the sulfur dioxide emissions in a group of 37 OECD countries is examined by looking at the order of integration of the series. However, instead of using integer degrees of differentiation (i.e., 1 in case of unit roots and 0 for stationarity), fractional values are also considered. The results indicate high degrees of persistence and very little evidence of mean reversion. This property only holds for the three Latin American countries examined, namely Chile, Colombia and Mexico if the error follows a white noise process. If autocorrelation is permitted, however, the confidence intervals are wider and mean reversion is not found in any single case. Thus, shocks in the series are expected to be permanent in the majority of the cases examined.pre-print267 K

Persistence of the Misery Index in African Countries.

This paper deals with the analysis of the misery index in a group of 55 African countries by using fractional integration. In doing so, we can measure the degree of persistence of the index in a more flexible way than with other methods that simply use integer degrees of differentiation (zero or one). Our results indicate a large degree of heterogeneity across the countries, with some showing short memory behaviour (d = 0); others long memory mean reverting behaviour (0 < d < 1) and others indicating the presence of unit roots (d = 1). Thus, shocks will have different effects depending on the country examined. We also find a positive relationship between the levels of persistence and income.pre-print418 K

Persistence of economic complexity in OECD countries.

pre-print518 K

Persistence and non-stationarity in the built-up land footprint across 89 countries.

This paper deals with the analysis of the degree of persistence and non-stationarity in the built-up land footprint time series referring to 89 countries all over the world. Using long memory and fractional integration methods the results indicate the existence of positive trends in 57 of the countries examined, while 7 series display negative trends. Dealing with persistence we observe a large of degree of heterogeneity across countries, with some countries displaying short memory patterns, while others showing orders of integration significantly higher than 1.pre-print518 K

Inequality Persistence of 21 OECD Countries from 1870 to 2020: Linear and Non-Linear Fractional Integration Approaches.

This paper investigates inequality persistence in a group of 21 OECD countries using linear and non-linear fractionally integrated methods. Using linear models, the results show that the series are strongly persistent which implies lack of average reversal and permanency of shocks. Mean reversion is only found in the case of Finland and partial evidence of mean reversion is detected for Belgium, Greece, Austria and the Netherlands. The results are similar using non-linear methods. Mean reversion is only found in the case of Finland, Belgium, Greece and Spain. Although, most countries show no evidence of non-linear structures except for four countries, namely, Finland, Spain, the United Kingdom and the United States. The implications of the empirical findings are reported at the end of the manuscript.post-print910 K

Persistence of methane emission in OECD countries for 1750-2014: A fractional integration approach.

The statistical structure of the methane emissions in a group of 36 OECD countries has been examined in this work for the time period 1750-2014 using techniques based on fractional integration. This allows us to determine the degree of persistence of the series and the potential presence of trends in the data. Our results indicate that all series are highly persistent, with orders of integration above 1 in the majority of the cases. Linear (positive) trends are observed in approximately half of the cases. One of the implications of these findings is that policies designed for decreasing methane emissions will have a long term impact in these countries.pre-print315 K

Have U.S. environmental policies been effective in the reduction of U.S. emissions? A new approach using fractional integration

This paper deals with the analysis of the global and per capita NOx and VOC emissions in the U.S. and the evaluation of the effectiveness of a number of environmental policies conducted by the government during the last 50 years. For this purpose we have employed fractional integration techniques, which are more flexible than other standard approaches based on the dichotomy between stationary I(0) and nonstationary I(1) behavior. Using the I(d) class of models, our results indicate first that the two NOx series display orders of integration substantially higher than 1, and though the VOC series display smaller orders, the unit root hypothesis cannot be rejected, indicating lack of mean reversion in the four series examined. Including dummy variables for each of the breaks referring to the environmental policies, the results show that the five policies investigated (at 1965, 1967, 1970, 1977 and 1990) were effective in reducing the number of emissions, being particularly important the one that was adopted in 1970