Empirical evidence on productivity spillovers - a concept that embodies the fact that foreign enterprises own intangible assets which can be transmitted to domestic firms, thus raising their productivity level - is ambiguous. With a panel data set at the firm level for the Portuguese...

This paper aims to establish whether geographical proximity between the locations of multinational firms and domestic firms facilitates the occurrence of FDI spillovers. Using data for Portugal, this hypothesis is clearly confirmed. However, the impact varies according to whether the...

Recreation is one of the ecosystem’s secondary values of a well conserved natural ecosystem, associated with the direct use individuals make of these natural assets. In this paper we define and estimate the total economic recreation value to visitors of a particular natural area, a national...

This paper aims to evaluate the trade potential of manufactured products between countries belonging to the EU in the threshold of its Eastern enlargement. For this purpose we use a Gravity model which is estimated with a Poisson Pseudo-Maximum Likelihood Method. We extend the specification of...

This study estimates the effects of the immigration stock, as well as those of immigrants’ characteristics, such as having the same language as that of the host country and the level of qualification or entrepreneurship, on Portuguese intra-industry trade (IIT) by types, controlling for the...

We applied count-data travel cost methods to a truncated sample of visitors, to estimate the average CS per each day of visit of an individual, visiting the Peneda- Gerês National Park to enjoy their natural facilities for recreation purposes. As the recreation demand was measured in number of...

There are theoretical reasons to expect that benefits to domestic firms from foreign direct investment would be confined to the area where the multinational firm is located and that the benefits depend on the development level of the host region. However, there is a scarcity of empirical studies...

This paper analyzes regulation, ownership and unobserved managerial ability as factors affecting the performance of a representative sample of European airports by means of frontier models. The Alvarez, Arias and Greene (2004) frontier model is used. These airports are ranked according to their...

In this paper we examine the effects of asymmetric information on the nature of financial equilibrium and on the capital structure of firms. In the first model presented, the financial contracts on offer involve pooling equilibrium with no adverse selection. However, in the special case...

In this paper, the random stochastic frontier model is used to estimate the technical efficiency of Japanese airports taking into regulation and heterogeneity in the variables. The airports are ranked according to their productivity for the period 1987 to 2005 and homogenous and heterogeneous...