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Modern economic theories explain differences in productivity and economic growth across countries by differences in … of these theories in explaining the gap in productivity between any two countries depends on the countries in the sample … developed and developing countries, but are too small to explain the productivity gaps between developed countries. We test this …
Persistent link: https://www.econbiz.de/10015219218
Modern economic theories explain differences in productivity and economic growth across countries by differences in … of these theories in explaining the gap in productivity between any two countries depends on the countries in the sample … developed and developing countries, but are too small to explain the productivity gaps between developed countries. We test this …
Persistent link: https://www.econbiz.de/10015240657
This paper tests the relationship between trade and economic growth for the case of Romania, during 1998-2004. We employed cointegration and Granger-causality tests on stochastic systems composed of exports, imports and GDP. In order to have some degree of significance, we performed our tests on...
Persistent link: https://www.econbiz.de/10015215526
The paper analyzes the relationship between financial liberalization and socio-political risk by identifying the inter-dependent nature of socio-political and economic fault lines in three developing countries. Unlike the previous research, the current article suggests that domestic...
Persistent link: https://www.econbiz.de/10015219678
determinants of the labor productivity growth for the manufacturing sector of some developed economies (Western European Countries … Australia. Capital growth and labor cost growth do not appear relevant in explaining productivity growth. The estimated Verdoorn …
Persistent link: https://www.econbiz.de/10015226912
This study proposes to examine the impact of tourism activity on the economic growth of Morocco and Tunisia. We contribute here to the empirical literature on the tourism-led growth (TLG) hypothesis, by adopting the error correction model framework, the cointegration and Granger Causality tests...
Persistent link: https://www.econbiz.de/10015235536
The current literature on the tourism-economic growth causal relationship has not yet reached to a clear empirical consensus. The aim of this paper is to revisit this ambiguous relationship by examining the dynamics between tourism and economic growth from a more holistic view. In particular, we...
Persistent link: https://www.econbiz.de/10015249515
This note discusses a pitfall of using the generalized impulse response function (GIRF) in vector autoregressive (VAR) models (Pesaran and Shin, 1998). The GIRF is general because it is invariant to the ordering of the variables in the VAR. The GIRF, in fact, is extreme because it yields a set...
Persistent link: https://www.econbiz.de/10015217989
Bayesian inference requires an analyst to set priors. Setting the right prior is crucial for precise forecasts. This paper analyzes how optimal prior changes when an economy is hit by a recession. For this task, an autoregressive distributed lag (ADL) model is chosen. The results show that a...
Persistent link: https://www.econbiz.de/10015218160
The diagonal GARCH(1,1) model is shown to support identification of the triangular system and is argued as a higher moment analog to traditional exclusion restrictions. Estimators for this result include QML and GMM. For the GMM estimator, only partial parameterization of the conditional...
Persistent link: https://www.econbiz.de/10015220010