Barro and Sala-I-Martin empirical framework of neoclassical Solow-Swan model is specified to determine the FDI impact on per capita growth in 74 Russian regions during period of 1996-2003.The Arellano-Bond GMM-DIFF methodology, developed for dynamic panel data models, is used in...

Enterprises in post-socialist and transition economies often participate in providing infrastructure and social services to the surrounding community. We argue that this bundling of social and infrastructure goods provision with an enterprise s core operations is a fully rational choice in an...

A simultaneous three-equation model is specified between GDP per capita (GDPc) level, infant mortality rate and health expenditures for 194 countries from 1990 to 2014. GMM-2SLS estimation results indicate that simultaneous decreasing infant mortality rate and increasing GDPc level effects are...

Enterprises in post-socialist and transition economies often participate in providing infrastructure and social services to the surrounding community. We argue that this bundling of social and infrastructure goods provision with an enterprise’s core operations is a fully rational choice in an...

The appropriateness of the Dickey-Fuller unit root test is studied using two alternative unit root test models. The segmented trend model is strongly supported and the second-order trend model is favoured for some series. The sample set consists of observations of nine basic macroeconomic time...

The small sample properties of the cointegrated labour demand models are studied with some Monte Carlo experiments. The results indicate that the Engle-Granger two-step estimation procedure gives biased OLS-estimates in small samples for the cointegrated vector and the error correction...

Barro and Sala-I-Martin empirical framework of neoclassical Solow-Swan model is specified to determine the FDI impact on per capita growth in 74 Russian regions during period of 1996-2003. The Arellano-Bond GMM-DIFF methodology, developed for dynamic panel data models, is used in estimations....

The basic efficiency wage model is analysed with real wages and cost pricing firm. The Solow condition implies that the effort wage output price elasticity is zero. Some empirical evidence from the US crude petroleum and natural gas industry and a sample of Finnish manufacturing industries does...

A framework based on a linear deterministic trend function is introduced in order to model growth convergence. The approach is a practical solution to the nonlinearity and nonstationarity found in the convergence of output-per-capita gaps between the USA and 14 OECD countries in 1946-1997....