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The literature that tests for U-shaped relationships using panel data, such as those between pollution and income or inequality and growth, reports widely divergent (parametric and non-parametric) empirical findings. We explain why lack of identification lies at the root of these differences. To...
Persistent link: https://www.econbiz.de/10011372978
This paper uses monthly data from April 2005 to August 2013 for Taiwan to propose a novel tourism indicator, namely the Tourism Conditions Index (TCI). TCI accounts for the spillover weights based on the Granger causality test and estimates of the multivariate BEKK model for four TCI indicators...
Persistent link: https://www.econbiz.de/10010227695
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This paper proposes a time-weighted difference-in-differences (TWDID) estimation approach that is robust against … DID estimation through balancing the pre-treatment and post-treatment unobserved common factors. To conduct valid … estimation uncertainty. Revisiting a study on the effect of a cap-and-trade program on NOx emissions, TWDID estimation reduces …
Persistent link: https://www.econbiz.de/10013540632
This paper reviews the theoretical and empirical literature on links between domestic financial development and economic growth. It starts with the pioneers in this field and then classifies two main schools favouring liberal financial regimes. First McKinnon and Shaw advocated financial...
Persistent link: https://www.econbiz.de/10011335226
We explore dynamic linkages between financial/banking sector openness, financial sector competition, and growth. We first develop an analytical model, highlighting links between long-run economic performance and services trade, through scale economies and market and cost structures in the...
Persistent link: https://www.econbiz.de/10011327533
estimation pointtowards a positive long-run growth effect arising from trade specialization in medium …
Persistent link: https://www.econbiz.de/10011335211
This paper reviews the empirical literature on growth and convergence that has addressed the importance of spatial factors. An important distinction in this literature is the one between absolute and relative location. The literature on absolute location predominantly uses non-spatial...
Persistent link: https://www.econbiz.de/10011342567