In this paper we propose a Bayesian estimation approach for a spatial autoregressive logit specification. Our approach relieson recent advances in Bayesian computing, making use of Pólya-Gamma sampling for Bayesian Markov-chain Monte Carlo algorithms.The proposed specification assumes that the...

This paper provides new insight into the firm-level employment impacts of trade cost changes at the industry level in the Austrian services sector. We apply a two-part model of firm survival (exit) and firm growth. Separate regressions for firm entry rates at the industry-region level complete...

Research and innovation partnerships involving firms or firms and public research organizations (PROs) have been increasing over the last twenty years in OECD countries. In this paper we present empirical evidence about the impact of government sponsored R&D programs on firms' partnership...

The Russian invasion of Ukraine has caused disruptions in international trade and highlighted the dependency of small open economies in Europe on imports, especially of energy. These events may have changed Europeans' attitude towards globalization. We study two waves of representative...

This paper examines the association between participation in global value chains and financial globalisation measured by international net and capital flows. The results show that financial globalisation and the rise of global value chains are related but not two sides of the same coin. In fact,...

This paper examines broad patterns of structural change for a large number of countries on a global scale and for a smaller set of advanced industrialised countries over time. The findings show that structural change over the past decades followed the three-sector hypothesis. The past decades...

We use individual level data covering 30 mostly post-communist and developing countries which account for over a fifth of the worldwide immigrant stock to assess the impact of risk aversion on the willingness to migrate. Consistent with theories of individual level migration decisions, risk...

From Aristotle to Ricardo and Menger, economists have emphasised the function of money as a medium of exchange together with the intrinsic qualities that increase its saleability and credibility as a most liquid store of value. But the social institution of money co-evolves with technology. It...

This paper advances a dynamic rationale for competitiveness policy that focuses on an economy's ability to evolve in order to achieve high real incomes along with desired qualitative changes in the socio-economic system. It highlights that the ubiquitous 'rationalities of failure,' either of...