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The Direct and Indirect Effects of Financial Development on International Trade : Evidence from the CEEC-6

Caporale, Guglielmo Maria; Sova, Anamaria Diana; Sova, … - 2021

This paper analyses the relationship between international trade and financial development in six EU members from Central and Eastern Europe (CEEC-6) using dynamic panel data approaches, specifically the system Generalized Method of Moments (GMM) and pooled mean group (PMG) estimators. The...

Persistent link: https://www.econbiz.de/10013315285

Global Universal Basic Skills : Current Deficits and Implications for World Development

Gust, Sarah; Hanushek, Eric A.; Woessmann, Ludger - 2022

How far is the world away from ensuring that every child obtains the basic skills needed to be internationally … competitive? And what would accomplishing this mean for world development? Based on the micro data of international and regional … skills for 159 countries that cover 98.1% of world population and 99.4% of world GDP. We find that at least two-thirds of the …

Persistent link: https://www.econbiz.de/10014243090

The COVID-19 Pandemic and European Trade Flows : Evidence from a Dynamic Panel Model

Caporale, Guglielmo Maria; Sova, Anamaria; Sova, Robert - 2022

This paper investigates the impact of the Covid-19 pandemic on trade flows in the case of the European countries. First, an ARDL dynamic panel model is estimated using the PMG method to analyse monthly data covering the most recent period (2019M1-2021M12); then, the GMM and PCSE approaches are...

Persistent link: https://www.econbiz.de/10014080051

Financial Integration in the GCC Region : Market Size Versus National Effects

Arin, K. Peren - 2019

This paper examines financial spillovers between the four largest equity markets (by market capitalization) in the GCC region using a VAR-GARCH (1,1) framework that sheds light on interdependence as well as the effects of the 2014 oil crisis. Since the UAE is a federation including two stock...

Persistent link: https://www.econbiz.de/10012867875

The COVID-19 Pandemic and European Trade Patterns : A Sectoral Analysis

Caporale, Guglielmo Maria; Sova, Anamaria; Sova, Robert - 2022

This paper examines how the Covid-19 pandemic affected European trade patterns. Specifically, dynamic panel data models are estimated to assess the effects on exports and imports of various sectors and products (selected on the basis of their trading volume or strategic importance) of the...

Persistent link: https://www.econbiz.de/10014241202

Stock Market Linkages between the ASEAN Countries, China and the Us : A Fractional Cointegration Approach

Caporale, Guglielmo Maria - 2019

This paper examines stock market integration between the ASEAN five and the US and China, respectively, over the period from November 2002 to March 2018. The linkages between both aggregate and financial sector stock indices (both weekly and monthly) are analysed using fractional integration and...

Persistent link: https://www.econbiz.de/10012891049

Global and regional spillovers in emerging stock markets : a multivariate GARCH-in-mean analysis

Beirne, John; Caporale, Guglielmo Maria; … - 2009

This paper examines global (mature market) and regional (emerging market) spillovers in local emerging stock markets. Tri-variate VAR GARCH(1,1)-in-mean models are estimated for 41 emerging market economies (EMEs) in Asia, Europe, Latin America, and the Middle East. The models capture a range of...

Persistent link: https://www.econbiz.de/10010265964

Cross-Country Evidence on Teacher Performance Pay

Woessmann, Ludger - 2010

The general-equilibrium effects of performance-related teacher pay include long-term incentive and teacher-sorting mechanisms that usually elude experimental studies but are captured in cross-country comparisons. Combining country-level performance-pay measures with rich PISA-2003 international...

Persistent link: https://www.econbiz.de/10013139418

Economic Policy Uncertainty : Persistence and Cross-Country Linkages

Aikins Abakah, Emmanuel Joel - 2020

This paper provides new evidence on the stochastic behaviour of the EPU (Economic Policy Uncertainty (EPU) index constructed by Baker et al. (2016) in six of the biggest economies (Canada, France, Japan, US, Ireland, and Sweden) over the period from January 1985 to October 2019. In particular,...

Persistent link: https://www.econbiz.de/10012833734

Persistence in the Market Risk Premium : Evidence Across Countries

Caporale, Guglielmo Maria - 2020

This paper provides evidence on the degree of persistence of one of the key components of the CAPM, namely the market risk premium, as well as its volatility. The analysis applies fractional integration methods to data for the US, Germany and Japan, and for robustness purposes considers...

Persistent link: https://www.econbiz.de/10012836946