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- Publisher
- Springer Journals
- Copyright
- Copyright © The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2021
- ISSN
- 2198-5804
- eISSN
- 2198-5812
- DOI
- 10.1007/s40745-021-00331-2
- Publisher site
- See Article on Publisher Site
Abstract
This article investigates the effect of output volatility on output growth in Barbados, a small island developing state located in the Caribbean, based on data from 1976 through 2018. I conduct the analysis using the Stochastic Volatility in Mean model with time-varying parameters. The evidence suggests that output growth volatility, measured by stochastic volatility, negatively links with output growth at the aggregate level. I also examine disaggregate output data in order to understand this link better. The sectoral evidence suggests a positive link for services, a negative link for manufacturing, and a weak link for agriculture and the industrial sectors.
Journal
Annals of Data Science – Springer Journals
Published: Jun 1, 2023
Keywords: Developing countries; Barbados; Output volatility; TVP-SVM; Bayesian estimation; Simulation; MSC 62; MSC 65; MSC 91