Global panel data modelling of industrial output

This study estimates panel data models of industrial output by means of fixed effects, time fixed effects, random effects and pooled panel data models. The models are specified for the main data set which includes all available countries and subsets of countries according to income levels i.e. low i...

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Main Author:	Baharudin, Azfar Hilmi
Format:	Thesis
Language:	English
Published:	2019
Subjects:	Q Science (General)
Online Access:	http://eprints.utm.my/id/eprint/101854/1/AzfarHilmiBaharudinMFS2019.pdf.pdf
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id	my-utm-ep.101854
record_format	uketd_dc
spelling	my-utm-ep.1018542023-07-13T01:46:35Z Global panel data modelling of industrial output 2019 Baharudin, Azfar Hilmi Q Science (General) This study estimates panel data models of industrial output by means of fixed effects, time fixed effects, random effects and pooled panel data models. The models are specified for the main data set which includes all available countries and subsets of countries according to income levels i.e. low income countries, lower middle income countries, upper middle income countries and high income countries. Hausman tests reveal that fixed effects model is appropriate for all countries model, low income countries and upper middle income countries. Meanwhile, fixed time effects model is appropriate for high income countries and Chow stability test reveals that pooled panel data model is appropriate for lower middle income countries. Diagnostic analyses of estimated models indicate that all models suffer from the problems of cross sectional dependence, non-constant variances and serially correlated errors. As such, this study applies robust standard error estimators and derives its final conclusions based on the most reliable results. Based on robust fixed effects model, household consumption, government consumption and money supply are statistically significant regressors for the global economy’s industrial output. Meanwhile, government consumption, money supply, interest rate and trade openness are statistically significant regressors for industrial output in low income countries. Based on robust pooled panel data model, all regressors are statistically significant for lower middle income countries. Robust fixed effects model of industrial output for upper middle income countries reveal that household consumption, government consumption, money supply and inflation are statistically significant. While the regressors that are statistically significant for industrial output in high income countries based on robust time fixed effects model are household consumption, government consumption, factor years of 2009 and 2010. 2019 Thesis http://eprints.utm.my/id/eprint/101854/ http://eprints.utm.my/id/eprint/101854/1/AzfarHilmiBaharudinMFS2019.pdf.pdf application/pdf en public http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:146230 masters Universiti Teknologi Malaysia Faculty of Science
institution	Universiti Teknologi Malaysia
collection	UTM Institutional Repository
language	English
topic	Q Science (General)
spellingShingle	Q Science (General) Baharudin, Azfar Hilmi Global panel data modelling of industrial output
description	This study estimates panel data models of industrial output by means of fixed effects, time fixed effects, random effects and pooled panel data models. The models are specified for the main data set which includes all available countries and subsets of countries according to income levels i.e. low income countries, lower middle income countries, upper middle income countries and high income countries. Hausman tests reveal that fixed effects model is appropriate for all countries model, low income countries and upper middle income countries. Meanwhile, fixed time effects model is appropriate for high income countries and Chow stability test reveals that pooled panel data model is appropriate for lower middle income countries. Diagnostic analyses of estimated models indicate that all models suffer from the problems of cross sectional dependence, non-constant variances and serially correlated errors. As such, this study applies robust standard error estimators and derives its final conclusions based on the most reliable results. Based on robust fixed effects model, household consumption, government consumption and money supply are statistically significant regressors for the global economy’s industrial output. Meanwhile, government consumption, money supply, interest rate and trade openness are statistically significant regressors for industrial output in low income countries. Based on robust pooled panel data model, all regressors are statistically significant for lower middle income countries. Robust fixed effects model of industrial output for upper middle income countries reveal that household consumption, government consumption, money supply and inflation are statistically significant. While the regressors that are statistically significant for industrial output in high income countries based on robust time fixed effects model are household consumption, government consumption, factor years of 2009 and 2010.
format	Thesis
qualification_level	Master's degree
author	Baharudin, Azfar Hilmi
author_facet	Baharudin, Azfar Hilmi
author_sort	Baharudin, Azfar Hilmi
title	Global panel data modelling of industrial output
title_short	Global panel data modelling of industrial output
title_full	Global panel data modelling of industrial output
title_fullStr	Global panel data modelling of industrial output
title_full_unstemmed	Global panel data modelling of industrial output
title_sort	global panel data modelling of industrial output
granting_institution	Universiti Teknologi Malaysia
granting_department	Faculty of Science
publishDate	2019
url	http://eprints.utm.my/id/eprint/101854/1/AzfarHilmiBaharudinMFS2019.pdf.pdf
_version_	1776100787520274432

Global panel data modelling of industrial output

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