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Analysis of the Global Economic Crisis Using the Cox Proportional Hazards Model

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Beyond Traditional Probabilistic Methods in Economics (ECONVN 2019)

Part of the book series: Studies in Computational Intelligence ((SCI,volume 809))

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Abstract

This paper uses the Cox proportional hazards model to examine which of the structural characteristics could resist the US financial crisis survival countries. The dependent variable in this model is generated from GDP, and the Markov Switching Autoregressive (MS-AR) technique is used to detect the survival period as well as the crisis occurrence in each country. The survival of a country is found to be influenced by continents (Asia, Australia and Africa) and the higher development level. However, being the member of economic communities, APEC and WTO, increase the chance of the crisis occurrence.

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Author information

Authors and Affiliations

  1. Faculty of Economics, Chiang Mai University, Chiang Mai, Thailand

    Wachirawit Puttachai

  2. Centre of Excellence in Econometrics, Faculty of Economics, Chiang Mai University, Chiang Mai, Thailand

    Woraphon Yamaka, Paravee Maneejuk & Songsak Sriboonchitta

Authors
  1. Wachirawit Puttachai
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  2. Woraphon Yamaka
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  3. Paravee Maneejuk
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  4. Songsak Sriboonchitta
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Corresponding author

Correspondence to Wachirawit Puttachai .

Editor information

Editors and Affiliations

  1. Department of Computer Science, University of Texas at El Paso, El Paso, TX, USA

    Vladik Kreinovich

  2. Banking University HCMC, Ho Chi Minh City, Vietnam

    Nguyen Ngoc Thach

  3. Banking University HCMC, Ho Chi Minh City, Vietnam

    Nguyen Duc Trung

  4. TTC Group, Ho Chi Minh City, Vietnam

    Dang Van Thanh

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Puttachai, W., Yamaka, W., Maneejuk, P., Sriboonchitta, S. (2019). Analysis of the Global Economic Crisis Using the Cox Proportional Hazards Model. In: Kreinovich, V., Thach, N., Trung, N., Van Thanh, D. (eds) Beyond Traditional Probabilistic Methods in Economics. ECONVN 2019. Studies in Computational Intelligence, vol 809. Springer, Cham. https://doi.org/10.1007/978-3-030-04200-4_62

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