TODA YAMAMOTO EVIEWS LICENSE

The results demonstrate the existence of short-run and long-run relationship among the variables and Toda-Yamamoto causality results support the existence of growth, conservation, feedback and neutrality hypotheses for different nations. The difference in the results can be attributed to structural and macroeconomic parameters. To test the causality among the variables, Toda-Yamamoto test is performed. To test the causality among the variables, Toda-Yamamoto test is performed. While, error correction method (ECM) is used to find the short-run dynamics. The ARDL bound testing approach, the way to deal with cointegration is applied to estimate the long-run connection between the variables.

TODA YAMAMOTO EVIEWS LICENSE

EViews 10 license is obtained from University. This research investigates the effects of electricity consumption (major independent variable), per capita income, real exchange rate, import and export on manufacturing output by using yearly time series data for the period of 1980-2016 with regard to 10 late industrialized nations. The TodaYamamoto causality shows that there is a one-way causality running from GDP to the six tourism sectors, indicating the economy-driven tourism growth hypothesis predominantly observed in developed countries where tourism revenue only accounts for a small portion of the overall economy.

Toda yamamoto eviews