DIW Berlin has examined the effects of investment in research and development on economic growth in Germany and other OECD countries. Their results show that an increase of one percentage point in research and development spending in the economy as a whole leads to a short-term average increase...

Das DIW Berlin hat die Wachstumswirkungen von Investitionen in Forschung und Entwicklung in Deutschland und weiteren OECD-Ländern untersucht. Demnach führt ein Anstieg des Wachstums der gesamtwirtschaftlichen Forschungsausgaben um einen Prozentpunkt kurzfristig zu einer Erhöhung des Wachstums...

We consider the relationship between tourism and economic growth for Latin American countries since 1985 until 1998. The analysis proposed is based on a panel data approach and the Arellano-Bond estimator for dynamic panels. We obtain estimates of the relationship between economic growth and...

This paper contributes to the productivity literature by using results from firm-level productivity studies to improve forecasts of macro-level productivity growth. The paper employs current research methods on estimating firm-level productivity to build times-series components that capture the...

This paper addresses heterogeneity in determinants of economic growth in a data-driven way. Instead of defining groups of countries with different growth characteristics a priori, based on, for example, geographical location, we use a finite mixture panel model and endogenous clustering to...

An exact maximum likelihood method is developed for the estimation of parameters in a nonlinear non-Gaussian dynamic panel data model with unobserved random individual-specific and time-varying effects. We propose an estimation procedure based on the importance sampling technique. In particular,...

Purpose – This study aims to examine the effects of energy consumption on economic growth by means of a panel data analysis of 75 net energy-importing countries for the period 1990 to 2012. Design/methodology/approach – For the purpose of the analysis, the countries are classified into two...

The superiority of full information approaches when estimating a system of equation is well known for large samples. However, less is known about the small sample properties of these estimators relative to limited information approachs. This is especially true for the context of Panel data...

The paper investigates the impact of globalization (overall, economic, social, and political) on economic growth of South Asian countries over the period from 1971 to 2014 employing cross-sectional dependence test, Cross sectionally Augmented Dickey-Fuller (CADF) unit root test (Pesaran in J...

This paper investigates the impact of financial development on economic growth in the West African Monetary Zone (WAMZ) from 1990 through 2015 using a Heterogeneous Panel Data Approach. The study made use of Two (2) financial indicators: liquid liabilities of the financial system as a percent of...