This paper investigates the impact of country risks, including political, financial, and economic risks, on the income elasticity of insurance demand. Using the panel smooth transition regression model, we find that there is a significant regime-switching effect concerning the impact of country...

This article applies the dynamic panel generalized method of moments technique to reexamine the environmental Kuznets curve (EKC) hypothesis for carbon dioxide (CO_2) emissions and asks two critical questions: "Does the global data set fit the EKC hypothesis?" and "Do different income levels or...

This study applies a non-linear model, i.e. the recently developed panel smooth transition regression (PSTR) model, and takes into account the potential endogeneity biases to investigate the demand function of electricity for 24 OECD countries from the period 1978-2004. Our empirical results...

This paper applies a two-step Generalized Method of Moments (GMM) to re-examine the causality between defense burden (MB) and real GDP (RY) for 137 countries. The findings indicate that a short-run causality running from MB to RY is found in lower-middle- and high-income countries and that from...