{"title":"Reassessing the Classical Investment Function. A Panel Data Analysis from NAFTA-USMCA","authors":"Fahd Boundi Chraki","doi":"10.33776/rem.v0i61.5145","DOIUrl":null,"url":null,"abstract":"This study applies the second generation of panel cointegration techniques in conjunction with those estimators that control cross-sectional dependence to test the plausibility of the classical approach to capital accumulation in Canada, Mexico, and the United States from 1960 to 2019 empirically. The findings suggest that private investment is positively related to the profit rate, unit labour costs, and growth in demand in both the short and long-run, while the causality analysis indicates potential feedback loops between the variables.","PeriodicalId":44512,"journal":{"name":"Revista De Economia Mundial","volume":" ","pages":""},"PeriodicalIF":0.2000,"publicationDate":"2022-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Revista De Economia Mundial","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.33776/rem.v0i61.5145","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
This study applies the second generation of panel cointegration techniques in conjunction with those estimators that control cross-sectional dependence to test the plausibility of the classical approach to capital accumulation in Canada, Mexico, and the United States from 1960 to 2019 empirically. The findings suggest that private investment is positively related to the profit rate, unit labour costs, and growth in demand in both the short and long-run, while the causality analysis indicates potential feedback loops between the variables.
期刊介绍:
a Revista de Economía Mundial (REM) ISSN: 1576-0162 es una publicación cuatrimestral editada por la Sociedad de Economía Mundial. Se trata de una Revista científica internacional que se encuentra reseñada en prestigiosos índices internacionales.