Agriculture Reference
In-Depth Information
Table 5.1 Results obtained with time series econometric techniques, based on the original Cobb-Douglas (1928) model (linear model obtained with
logarithms), for the agricultural output in the period 1990-2011 (there are not results for Greece, due to a lack of data)
Germany
Spain
France
Ireland
Italy
Portugal
UK
ARCH family
regression
(Robust)
Prais-
Winsten
Prais-
Winsten
Prais-
Winsten
Prais-
Winsten
Prais-
Winsten
Prais-
Winsten
Model
Constant
8.804*
(
6.010)
[0.000]
4.235**
(1.910)
[0.073]
2.535*
(
3.660)
[0.002]
12.837**
(2.070)
[0.053]
0.575*
(
10.320)
[0.000]
Agriculture value added per worker (constant 2005
US$)
0.758*
(6.050)
[0.000]
0.360**
1.360*
(
2.060)
[0.055]
(
2.180)
[0.042]
Employment in agriculture (% of total
employment)
0.559*
(2.140)
[0.047]
1.325*
(12.050)
[0.000]
0.461**
(1.800)
[0.090]
1.842*
(5.490)
[0.000]
0.673**
(1.890)
[0.074]
1.513*
(15.930)
[0.000]
Augmented Dickey-Fuller test for unit root
4.969*
[0.000]
2.984*
[0.0364]
2.890*
[0.046]
4.310*
[0.000]
3.247*
[0.017]
3.191*
[0.020]
3.202*
[0.019]
EG-ADF test for co-integration
2.081
[0.252]
2.457
[0.126]
1.877
[0.342]
1.395
[0.584]
2.353
[0.155]
1.546
[0.510]
2.149
[0.225]
Portmanteau test for white noise for autocorrelation
36.191*
[0.000]
45.980*
[0.000]
34.061*
[0.000]
49.163*
[0.000]
51.964*
[0.000]
47.998*
[0.000]
52.960*
[0.000]
Durbin's alternative test for autocorrelation
3.794**
[0.051]
2.088
[0.148]
2.858**
[0.090]
21.332*
[0.000]
8.361*
[0.003]
7.712*
[0.005]
1.128
[0.288]
Breusch-Godfrey LM test for autocorrelation
3.833**
[0.050]
2.297
[0.129]
3.031**
[0.081]
11.130*
[0.000]
6.923*
[0.008]
6.554*
[0.010]
1.239
[0.265]
Breusch-Pagan/Cook-Weisberg test for
heteroskedasticity
0.320
[0.572]
2.200
[0.138]
0.150
[0.697]
0.190
[0.663]
0.210
[0.643]
0.040
[0.850]
3.180**
[0.074]
Ramsey RESET test using powers of the fitted
values
2.310
[0.120]
3.510*
[0.041]
3.310**
[0.051]
8.630*
[0.001]
6.580*
[0.004]
2.050
[0.150]
2.660**
[0.083]
(continued)
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