and firm growth. Since it has been observed that many panel unit root tests are invalid when cross-section correlation …The purpose of this paper is to use panel unit root tests to see if Gibrat’s law holds in Turkey. Gibrat's Law … establishes that firm growth is a random walk, it means that the probability of a given proportional change in size during a …

The Law of Proportionate Effect depicts that firm’s growth rate is independent of its size; Gibrat (1931). Some of the …

This paper develops an instrumental variable (IV) estimator for consistent estimation of dynamic panel data models with … resulting approach allows parsimonious estimation of the model. The finite-sample performance of the IV estimator and the …

This paper considers panel data regression models with weakly exogenous or endogenous regressors and residuals … generated by a multi-factor error structure. In this case, the standard dynamic panel estimators fail to provide consistent … estimates of the parameters. We propose a new estimation approach, based on instrumental variables, which retains the …

, small firms resort to short-term forms of debt. Firms with higher potential for growth prefer using less long-term debt as … of the inertia effect and industry-specific effects, and are robust to alternative estimation techniques. …

indicators could support both endogenous and neoclassical growth theories in the convergence debate. This paper investigates …, while human development supports the exogenous growth model and rejects the endogenous theory, its income component suggests …

According to Kaldor (1970), regional growth patterns arise from a cumulative causation process as broadly combining two … exportations. This paper attempts to assess empirically the Kaldor’s framework in characterizing economic growth for 11 ALADI … countries from a panel data set over period 1980 to 2007. After having controlled industrial heterogeneity, the results are …

This paper deals with the effects of telecommunications on the economic growth in African countries. The … investigate empirically the role of telecommunication infrastructures on long-run economic growth in African countries, for the … span of time from 1984 to 2005. We use the panel data approach with a dynamic fixed effect model, which evidences that …

This paper investigates the volatility size effects for firm performance in the Taiwan tourism industry, especially the … impacts arising from the tourism policy reform that allowed mainland Chinese tourists to travel to Taiwan. Four conditional … effects for firm performance, regardless of firm size and estimation period. Furthermore, the risk premium reveals …

The purpose of this paper is to test if there exists an eviction of the private tourism investment by the level of land … private investment. The anticipated demand seems to have an accelerator effects on tourism investment. In revenge, the land … tax based on the level of tourism GDP remains with a negative effect, but it is neatly lower as than the effect, which the …