Evaluating the Hierarchical Contagion of Economic Policy Uncertainty among the Leading Developed and Developing Economies
Abstract
:1. Introduction
2. Literature Review
3. Data
4. Methodology
4.1. Shannon Entropy
4.2. Mutual Information
4.3. Network Construction
4.4. Dependency Network and Country Influence
5. Results and Discussion
5.1. Entropy Measures
5.2. The Network
5.3. Network Centrality Measures
5.4. Network Community Structure
5.5. Dependency Network Analysis
6. Conclusions
6.1. Policy Implication
6.2. Limitations and Future Recommendations
Author Contributions
Funding
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
References
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Country | Mean | Std. Dev. | Skewness | Kurtosis | Jarque-Bera | ADF |
---|---|---|---|---|---|---|
Australia | 0.0801 | 0.44025 | 1.55584 | 7.58901 | 374.02 | −8.3464 |
Brazil | 0.12665 | 0.5813 | 1.72928 | 7.82192 | 428.42 | −7.4427 |
Canada | 0.04467 | 0.31463 | 1.18554 | 5.44672 | 141.24 | −8.4481 |
Chile | 0.05496 | 0.35533 | 1.14457 | 5.5075 | 140.25 | −7.6576 |
China | 0.17024 | 0.75913 | 3.1027 | 18.99711 | 3582 | −7.3963 |
Colombia | 0.04758 | 0.33781 | 1.7345 | 8.57913 | 525.12 | −7.9036 |
Denmark | 0.03005 | 0.25271 | 1.45918 | 6.97582 | 295.94 | −8.5354 |
France | 0.09008 | 0.49949 | 2.17256 | 9.97184 | 821.09 | −7.6452 |
Germany | 0.08433 | 0.46466 | 1.66471 | 7.42764 | 373.38 | −8.2038 |
Greece | 0.02315 | 0.22841 | 0.67842 | 3.83557 | 30.894 | −8.421 |
India | 0.06694 | 0.40569 | 1.50357 | 7.1962 | 324.25 | −6.4583 |
Republic of Ireland | 0.21549 | 0.92969 | 3.22931 | 17.66061 | 3122.5 | −6.9034 |
Italy | 0.05385 | 0.37045 | 1.5606 | 7.96343 | 418.26 | −8.857 |
Japan | 0.01835 | 0.20172 | 0.78902 | 4.87705 | 73.165 | −8.0456 |
South Korea | 0.06975 | 0.42595 | 1.9616 | 9.50774 | 702.53 | −7.5075 |
Netherlands | 0.05968 | 0.4306 | 4.11932 | 37.55302 | 15352 | −7.2358 |
Russia | 0.22891 | 0.836 | 1.7605 | 7.05854 | 351.24 | −7.1467 |
Spain | 0.02239 | 0.20964 | 2.81701 | 20.24545 | 4004.6 | −8.9036 |
Sweden | 0.01434 | 0.18026 | 0.90455 | 4.60329 | 71.095 | −9.1013 |
The United Kingdom | 0.04995 | 0.32346 | 0.96492 | 4.39815 | 69.096 | −6.3106 |
The United States of America | 0.05097 | 0.35336 | 2.78908 | 16.51078 | 2599.5 | −8.7429 |
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Alkan, S.; Akdağ, S.; Alola, A.A. Evaluating the Hierarchical Contagion of Economic Policy Uncertainty among the Leading Developed and Developing Economies. Economies 2023, 11, 201. https://doi.org/10.3390/economies11080201
Alkan S, Akdağ S, Alola AA. Evaluating the Hierarchical Contagion of Economic Policy Uncertainty among the Leading Developed and Developing Economies. Economies. 2023; 11(8):201. https://doi.org/10.3390/economies11080201
Chicago/Turabian StyleAlkan, Serkan, Saffet Akdağ, and Andrew Adewale Alola. 2023. "Evaluating the Hierarchical Contagion of Economic Policy Uncertainty among the Leading Developed and Developing Economies" Economies 11, no. 8: 201. https://doi.org/10.3390/economies11080201
APA StyleAlkan, S., Akdağ, S., & Alola, A. A. (2023). Evaluating the Hierarchical Contagion of Economic Policy Uncertainty among the Leading Developed and Developing Economies. Economies, 11(8), 201. https://doi.org/10.3390/economies11080201