This paper aims at identifying a most frequently multivariate technique,Principal Components Analysis (PCA), to solve a multicollinear single equation econometric model .results of the method used were compared to Ordinary Least Squares (OLS) and(Two Stages Least Squares (2SLS) to see if...

This paper studies regression models with a lagged dependent variable when both the dependent and independent variables are nonstationary, and the regression model is misspecified in some dimension. In particular, we discuss the limiting properties of least-squares estimates of the parameters in...

This paper aims to establish how the innovative activity in Finland has changed over time in the transition from a resource-driven economy to a knowledge-driven economy. The paper first takes a historical perspective on innovation and industrial activity in Finland through a descriptive...