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This paper considers the problem of testing cross-sectional correlation in large panel data models with serially-correlated errors. It finds that existing tests for cross-sectional correlation encounter size distortions with serial correlation in the errors. To control the size, this paper...
Persistent link: https://www.econbiz.de/10011755347
aggregation for the series in the data set. We consider two evaluation samples for the out-of-sample forecasting exercise to … assess the stability of the forecasting performance. We find that the effect of the data set size on the forecasting … forecasting process. …
Persistent link: https://www.econbiz.de/10012610958
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...
Persistent link: https://www.econbiz.de/10013362901
The destructive role of institutional quality such as corruption has been considered an important factor for economic growth, particularly in the European Union, where such practices dealt with zero tolerance. Environmental degradation such as massive carbon emissions is stressing the global...
Persistent link: https://www.econbiz.de/10014463467
This paper studies identification in a binary choice panel data model with choice probabilities depending on a lagged outcome, additional observed regressors and an unobserved unit-specific effect. It is shown that with two consecutive periods of data identification is not possible (in a...
Persistent link: https://www.econbiz.de/10014496127
This study investigates the dynamics of foreign direct investment (FDI) inflows into Central and Eastern European countries (CEECs) using panel data (1994-2020) analysis methods such as fixed effects, fully modified ordinary least squares (FMOLS) and random effects. Specifically, the study...
Persistent link: https://www.econbiz.de/10014516337
While general equilibrium theories of trade stress the role of third-country effects, little work has been done in the empirical foreign direct investment (FDI) literature to test such spatial linkages. This paper aims to provide further insights into long-run determinants of Spanish FDI by...
Persistent link: https://www.econbiz.de/10010317091
In this paper, the authors investigate the determinants of weight for leisure in preferences. First, using a dynamic general equilibrium model, they back out the weight for leisure for an unbalanced panel of 52 countries over the period from 1950 to 2009. Then, the authors perform several panel...
Persistent link: https://www.econbiz.de/10010332948
Like the most developing countries, the Mediterranean countries have also given priority to the development of tourism industry as a part of their economic growth strategy. This study intends to investigate the relationship between tourism development and economic growth in eight Mediterranean...
Persistent link: https://www.econbiz.de/10011994270
The growing economies and the increase in urbanization have increased the process of waste production. Recycling of the wastes resulting from economic processes through certain operations would both decrease the amount of wastes and the need for area to store them and minimize the demand for...
Persistent link: https://www.econbiz.de/10012004563