ผลกระทบของอัตราเงินเฟ้อต่ออัตราการเจริญเติบโตทางเศรษฐกิจด้วยวิธีการถดถอยแบบพาแนลควอนไทล์

Abstract

The objective of this study is to explore the effect of inflation on economic growth by using Panel Quantile Regression and to compare the results amongst each countries group. This study is used secondary panel data for all of 115 countries during A.D. 1981 – 2013 which are divided into 2 developed countries groups and 4 developing countries groups. There are 4 variables of the model: the dependent variable is economic growth rate and the independent variables are inflation rate, investment growth rate and population growth rate. LLC and Persaran methods are used as panel unit root test. After that the researcher chose to Panel Quantile Regression as the estimated method. As the results of Panel Unit Root Tests, it is found that 4 variables data are stationary in Order of Integration equal to 0. Moreover, the results of Panel Quantile Regression are shown that the inflation rate is not affected any impacts of the economic growth rate in Euro Area countries, Other Advanced countries and developing Asian countries. However, the countries which have negative effect from the inflation on economic growth are the Middle-East and North Africa countries in the low level of economic growth only. In addition, the Latin-America and Caribbean countries and Sub-Saharan-Africa countries are affected in every level of economic growth which have the highest negative effect in the low level of economic growth.