We employ a balanced panel dataset representative of the entire Chilean productive structure in order to investigate the relation between the introduction of innovation and subsequent firm growth in terms of sales. Recent contributions examining the returns to innovation on firm performance have...

This study constructs a Bayesian nonparametric model to investigate whether stock market returns predict real economic growth. Unlike earlier studies, our use of an infinite hidden Markov model enables parameters to be time-varying across an infinite number of Markov-switching states estimated...

This paper proposes an empirical framework to estimate Okun's law which focuses on structural breaks and threshold nonlinearity. We use sequentially the Bai and Perron's (1998, 2003) structural break and threshold methodology to enable regime-dependent as well as threshold-dependent changes in...

The objective of this paper is to contribute towards the understanding of the linear and non-linear causal linkages between energy consumption and economic activity, making use of annual time series data of Greece for the period 1960–2008. Two are the salient features of our study: first, the...

The objective of this paper is to contribute to the understanding of the linear and non-linear causal linkages between total energy consumption and economic activity, making use of annual time series of Greece for the period 1960-2008. Two are the salient features of our study: first, the total...

This research introduces an innovative GDP nowcasting strategy tailored for developing countries, specifically addressing challenges related to limited data timeliness. The study centers on Bolivia, where the official monthly indicator of economic growth is released with a substantial delay of...

This paper considers a functional-coefficient spatial Durbin model with nonparametric spatial weights. Applying the series approximation method, we estimate the unknown functional coefficients and spatial weighting functions via a nonparametric two-stage least squares (or 2SLS) estimation...

Regression analyses of cross-country economic growth data are complicated by two main forms of model uncertainty: the uncertainty in selecting explanatory variables and the uncertainty in specifying the functional form of the regression function. Most discussions in the literature address these...

This study re-visits the health-income nexus for Malaysia using alternative econometric techniques which addressed on the small sample problem. This study covers the period of 1970-2009. Based on the appealing small sample properties, we apply the bounds testing approach to cointegration and the...

This study examined the composition effect of government expenditure on private consumption and output growth in Nigeria using the framework of single equation error correction mechanism. The unit root and cointegration tests were conducted on the variables of interest while single equations...