The dynamic development of the digitized society generates large-scale information data flows. Therefore, data need to be compressed in a way allowing its content to remain complete and informative. In order for the above to be achieved, it is advisable to use the principal component method...

Purpose - This paper investigates the impact of governance on economic growth, considering the spatial dependence between countries. Design/methodology/approach - The study employs spatial regression models to estimate the impact of governance on economic growth in a sample of 116 countries...

We calculate global inflation as the first principal component of inflation in a sample of emerging market and advanced economies and find that it may account for an important fraction of headline and core inflation variance across countries. We then show that global inflation is correlated with...