This paper analyses the impact of intangible capital on firm-level productivity for Germany using panel data from the Community Innovation Survey for the time period 2006 to 2018. Our paper presents three novel results. First, we find a highly significant positive relationship between intangible...

The present study aims to evaluate the impact of information and communication technology (ICT) on the economic growth of selected developing countries in the Middle East and North Africa (MENA) region and the Sub-Saharan Africa (SSA) region by using a panel Generalized Method of Moment (GMM)...

This paper analyses the impact of intangible capital on firm-level productivity for Germany using panel data from the Community Innovation Survey for the time period 2006 to 2018. Our paper presents three novel results. First, we find a highly significant positive relationship between intangible...

It is believed that investments in intellectual capital enable a company to create a competitive advantage that results in the ability to earn economic profits and increase company value. However, this influence is reciprocal: Companies that generate more money can invest more funds in...

The launch of the African Continental Free Trade Area at the beginning of 2021 provides new opportunities for North African countries to boost their economies. To conquer this vast market, innovation has become an ineluctable need. Although competition policy may serve as a salient lever for...

It is believed that investments in intellectual capital enable a company to create a competitive advantage that results in the ability to earn economic profits and increase company value. However, this influence is reciprocal: Companies that generate more money can invest more funds in...

We propose a framework for estimation and inference about the parameters of an economic model and predictions based on it, when the model may be misspecified. We rely on a local asymptotic approach where the degree of misspecification is indexed by the sample size. We derive formulas to...

In addition to the wide believed positive effects on growth, employment and wages, FDIs are often perceived as sources of funds for development. Developing countries, especially low income and emerging economies, welcome FDIs because of their favorable budgetary implications. All that resulted...

We propose theory-based Monte Carlo simulations to quantify the extent to which the estimated speed of convergence depends on the underlying econometric techniques. Based on a theoretical growth model as the data generating process, we find that, given a true speed of convergence of around 5%,...

This paper investigates the asymptotic local power of the the averaged t-test of Im, Pesaran and Shin (2003, IPS hereafter) in the presence of both initial explosive conditions and incidental trends. By utilizing the least squares detrending methods, it is found that the initial condition plays...