Browsing by Author "Rodillas, Ariane Mae E."
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Item Restricted Cointegration among economic sectors: an analysis of sectoral growth interdependencies in the Philippines(2014-04) Buenaventura, Jean C.; Rodillas, Ariane Mae E.; Reside, Renato Jr. E.This study analyzes the inter-sectoral linkages among agriculture, industry, and services in the case of the Philippine economy using the Johansen co-integration analysis. We found one cointegrating vector from 1982-2010, which indicates that there is a stable long-run relationship between the three economic sectors. After estimating a vector error correction model, we found that in the long-run, the agriculture sector has a negative relationship with industry, but it has a positive relationship with service. The short run results indicate that the signs of the relationship are consistent with the stable long-run equation.