Are uncertainties across the world convergent?

dc.contributor.authorChristou, Christina
dc.contributor.authorGozgor, Giray
dc.contributor.authorGupta, Rangan
dc.contributor.authorLau, Chi Keung Marco
dc.contributor.emailrangan.gupta@up.ac.za
dc.date.accessioned2021-08-23T07:01:49Z
dc.date.available2021-08-23T07:01:49Z
dc.date.issued2020-03
dc.description.abstractWe analyze the convergence of a news-based measure of uncertainty across 143 countries (spanning 99 percent of world GDP) over the quarterly period of 1996Q1 to 2018Q3. We apply a panel data-based unit root test, which controls both nonlinearity and cross-sectional dependence, to the ratio of the uncertainty of individual countries relative to that of global uncertainty. We find overwhelming evidence of stationarity in 141 of the cross-sectional units, leading to a rejection of the null of a unit root for the entire panel. Our results provide strong evidence of convergence and hence, the spillover of uncertainty across the economies of the world. Given this, policymakers need to be alert all the time to counteract the negative impact on the domestic economy in the wake of uncertainty increases around the world.en_ZA
dc.description.departmentEconomicsen_ZA
dc.description.librarianhj2021en_ZA
dc.description.urihttp://www.accessecon.com/pubs/eb/default.aspx?page=content&linkID=763&menu=2en_ZA
dc.identifier.citationChristina Christou and Giray Gozgor and Rangan Gupta and Chi keung Marco Lau, (2020) ''Are Uncertainties across the World Convergent?'', Economics Bulletin, Volume 40, Issue 1, pages 855-862.en_ZA
dc.identifier.issn1545-2921
dc.identifier.urihttp://hdl.handle.net/2263/81424
dc.language.isoenen_ZA
dc.publisherEconomics Bulletinen_ZA
dc.rights© Economics Bulletinen_ZA
dc.subjectUncertaintyen_ZA
dc.subjectEconomic policyen_ZA
dc.subjectConvergenceen_ZA
dc.subjectPanel dataen_ZA
dc.subjectNonlinear unit root testen_ZA
dc.titleAre uncertainties across the world convergent?en_ZA
dc.typeArticleen_ZA

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