This paper examines empirically the association between Foreign Direct Investment (FDI) inward and FDI outward. Using a panel data set for 35 economies over the period 1981-2004 as well as the methodology of panel cointegration and panel causality tests, the empirical findings show that FDI...

This paper examines empirically the association between foreign direct investment inward and foreign direct investment outward. Using a panel data set for 35 economies over the period 1981-2004 as well as the methodology of panel unit root and panel cointegration tests with a certain number of...

Our study represents a first attempt to single out the effects of aging on the entire structure of the economy that is approximated by employment shares in different sectors. We find that even after controlling for the effects of other relevant factors - e.g. income per capita, share of trade in...

This paper reexamines previous favorable results of productivity convergence, accounting for the presence of cross-country correlation. The high levels of correlation among the OECD countries analyzed cause a significant size distortion in the testing procedure. The effect of the correlation...

In this study, we investigate whether population aging influences employment shares in different economic sectors. To this end, we employ dynamic panel data analysis. Our unbalanced data set comprises 54 countries and extends to a maximum time period from 1970 till 2004. Our results suggest that...

This paper investigates whether male soccer tradition can predict the success of female soccer. Different from the existing literature, this paper utilizes panel data covering 175 countries during the 1991-2011 period, capturing country heterogeneity effects and time trends. An instrumental...

Relying on data for a panel of 90 economies over 1970-2015 and System-GMM estimates, we extend the standard Kuznets-curve empirical framework to investigate how financial development, globalisation and technology affect income inequality. Our findings reveal the presence of significant...

We discuss some conceptual and practical issues that arise from the presence of global energy balance effects on station level adjustment mechanisms in dynamic panel regressions with climate data. The paper provides asymptotic analyses, observational data computations, and Monte Carlo...

In this paper we provide new insights on the nexus between public debt and economic growth, focusing on the growth of debt rather than its level. By exploiting updated macroeconomic time series for 75 countries (37 OECD and 38 non-OECD) over the period 1972-2019 and using the system-GMM...

We propose a new unified approach to identifying and estimating spatio-temporal dependence structures in large panels. The model accommodates global cross-sectional dependence due to global dynamic factors as well as local cross-sectional dependence, which may arise from local network...