Has the accumulation of foreign reserves protect the Thai economy from financial crisis?: An approach of Empirical likelihood

© Serials Publications Pvt. Ltd. In this article, we analyzed the effect of the accumulation of foreign reserves to economic growth in Thailand. In order to estimate of this impact, we employed a kink regression model which has an ability to capture a structure changed in the relationship between fo...

Full description

Saved in:

Bibliographic Details
Main Authors:	Woraphon Yamaka, Pathairat Pastpipatkul, Songsak Sriboonchitta
Format:	Journal
Published:	2018
Subjects:	Economics, Econometrics and Finance Agricultural and Biological Sciences
Online Access:	https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85019585418&origin=inward http://cmuir.cmu.ac.th/jspui/handle/6653943832/46493
Tags:	Add Tag No Tags, Be the first to tag this record!
Institution:	Chiang Mai University

id	th-cmuir.6653943832-46493
record_format	dspace
spelling	th-cmuir.6653943832-464932018-04-25T07:29:07Z Has the accumulation of foreign reserves protect the Thai economy from financial crisis?: An approach of Empirical likelihood Woraphon Yamaka Pathairat Pastpipatkul Songsak Sriboonchitta Economics, Econometrics and Finance Agricultural and Biological Sciences © Serials Publications Pvt. Ltd. In this article, we analyzed the effect of the accumulation of foreign reserves to economic growth in Thailand. In order to estimate of this impact, we employed a kink regression model which has an ability to capture a structure changed in the relationship between foreign reserves accumulation and economic growth as well as identify the kink point of their relationship. However, we concern that the assumption of normality may yield biased estimation for model parameters of interest and its difficulty to specify the correct error distribution of the model. Hence, the maximum likelihood estimation might not be accurate. In this paper, we investigate the use of Empirical likelihood approach as a solution to this problem. To examine the performance of this estimatin, we conduct a simulation and experiment studues. Then, the approach is applied to analyze the effect of the accumulation of foreign reserves to economic growth in Thailand. 2018-04-25T06:55:43Z 2018-04-25T06:55:43Z 2017-01-01 Journal 09729380 2-s2.0-85019585418 https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85019585418&origin=inward http://cmuir.cmu.ac.th/jspui/handle/6653943832/46493
institution	Chiang Mai University
building	Chiang Mai University Library
country	Thailand
collection	CMU Intellectual Repository
topic	Economics, Econometrics and Finance Agricultural and Biological Sciences
spellingShingle	Economics, Econometrics and Finance Agricultural and Biological Sciences Woraphon Yamaka Pathairat Pastpipatkul Songsak Sriboonchitta Has the accumulation of foreign reserves protect the Thai economy from financial crisis?: An approach of Empirical likelihood
description	© Serials Publications Pvt. Ltd. In this article, we analyzed the effect of the accumulation of foreign reserves to economic growth in Thailand. In order to estimate of this impact, we employed a kink regression model which has an ability to capture a structure changed in the relationship between foreign reserves accumulation and economic growth as well as identify the kink point of their relationship. However, we concern that the assumption of normality may yield biased estimation for model parameters of interest and its difficulty to specify the correct error distribution of the model. Hence, the maximum likelihood estimation might not be accurate. In this paper, we investigate the use of Empirical likelihood approach as a solution to this problem. To examine the performance of this estimatin, we conduct a simulation and experiment studues. Then, the approach is applied to analyze the effect of the accumulation of foreign reserves to economic growth in Thailand.
format	Journal
author	Woraphon Yamaka Pathairat Pastpipatkul Songsak Sriboonchitta
author_facet	Woraphon Yamaka Pathairat Pastpipatkul Songsak Sriboonchitta
author_sort	Woraphon Yamaka
title	Has the accumulation of foreign reserves protect the Thai economy from financial crisis?: An approach of Empirical likelihood
title_short	Has the accumulation of foreign reserves protect the Thai economy from financial crisis?: An approach of Empirical likelihood
title_full	Has the accumulation of foreign reserves protect the Thai economy from financial crisis?: An approach of Empirical likelihood
title_fullStr	Has the accumulation of foreign reserves protect the Thai economy from financial crisis?: An approach of Empirical likelihood
title_full_unstemmed	Has the accumulation of foreign reserves protect the Thai economy from financial crisis?: An approach of Empirical likelihood
title_sort	has the accumulation of foreign reserves protect the thai economy from financial crisis?: an approach of empirical likelihood
publishDate	2018
url	https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85019585418&origin=inward http://cmuir.cmu.ac.th/jspui/handle/6653943832/46493
_version_	1681422884802658304

Has the accumulation of foreign reserves protect the Thai economy from financial crisis?: An approach of Empirical likelihood

Similar Items