Εμπειρική μελέτη και διερεύνηση της σχέσης μεταξύ του ακαθάριστου εγχώριου προϊόντος και της συνολικής κατανάλωσης σε δέκα χώρες της Ευρωπαϊκής Ένωσης

Πέρου, Μαγδαληνή

Empirical study and investigation of the relationship between gross domestic product and final consumption in ten countries of the European Union

Master Thesis

Author

Πέρου, Μαγδαληνή

Date

2017-09

Abstract

This thesis explores the relationship between Gross Domestic Product and final consumption in ten developed countries of the European Union. The aim of the study is to examine the economic behavior of these variables and investigate the existence and the direction of the causality between them, in the short and long term. This research is accomplished by using econometric techniques and theories, such as Unit Root Tests, Granger causality, Cointegration and Error Correction Models. The empirical part of this work uses annual observations of the Gross Domestic Product and consumption for the countries: Austria, Belgium, France, Germany, Greece, Spain, Cyprus, Netherlands, Portugal and Finland. The time span of the research covers a period from 1990 to 2015 and the data was collected from the database World Development Indicators (WDI), of World Data Bank. Τhe empirical results of the study, for all the countries examined, indicate that there is a unilateral causal relationship from GDP to consumption, for the countries Austria, Belgium, France, Germany, Greece and the Netherlands, while there is a bilateral causal relationship of the examined variables, for the countries Spain, Cyprus, Portugal and Finland. Furthermore, according to the theory of cointegration, longrun relationships are found between the variables of GDP and consumption for all the examined countries, apart from Cyprus and Finland. Finally, the adjustment terms of the error correction models were calculated, showing that there is a shortrun relationship linking the variables of consumption and GDP for all countries, except Cyprus.

Postgraduate Studies Programme

Οικονομική και Επιχειρησιακή Στρατηγική

Department

Σχολή Οικονομικών, Επιχειρηματικών και Διεθνών Σπουδών. Τμήμα Οικονομικής Επιστήμης

Number of pages

244

Language

Greek

URI

https://dione.lib.unipi.gr/xmlui/handle/unipi/10729

Collections

Τμήμα Οικονομικής Επιστήμης

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