This paper provides a critical examination of the empirical basis of the output convergence debate in the light of recent developments in the analysis of dynamic heterogeneous panels with interactive effects. It shows that popular tools such as Barro's cross-country regressions and two-way fixed...

Forecasts that minimize mean squared forecast error (MSE) often exhibit excessive volatility, limiting their practical applicability. We address this accuracy smoothness trade-off by introducing a Multivariate Smooth Sign Accuracy (M-SSA) framework, which extracts smoothed components from...

This paper makes the case for measuring economic activity in real time in a middle-income setting using indicators alternative to the standard System of National Accounts measure of gross domestic product (GDP). GDP remains indispensable, yet its limits as a welfare proxy are amplified where...

The literature on growth dependencies increasingly calls for post-growth welfare states capable of functioning without reliance on GDP growth in order to remain within planetary limits. Yet empirical research on the relationship between welfare state arrangements and economic growth remains...

This paper develops a nowcasting model to produce timely estimates of quarterly GDP growth for Kenya. Nowcasting combines official monthly indicators with digital transaction data. Exploiting strong comovement of macroeconomic time series, a few latent factors summarize aggregate dynamics and...

Cambodia is not alone in facing capacity limitations in the production and timely release of key official statistics needed for data-driven policy decisions. This paper demonstrates that combining satellite-derived indicators (e.g., nighttime lights, NO₂ emissions, vegetation indices) with...

This paper examines the implications of heterogeneity in construction productivity on cross-country income disparity. Using a sample of 168 countries, we estimate the 10:1 spread in construction productivity as a factor of 49-fold in 2017. The construction productivity gap falls by 46 percent...

Gross Domestic Product (GDP) has long been used as a proxy for human progress, despite growing recognition of its limitations. Recently, numerous "beyond GDP" initiatives have emerged, promoting multidimensional dashboards to assess quality of life. However, these often lack a clear headline...

Gross Domestic Product (GDP) has long been used as a proxy for human progress, despite growing recognition of its limitations. Recently, numerous "beyond GDP" initiatives have emerged, promoting multidimensional dashboards to assess quality of life. However, these often lack a clear headline...

This study examines the short-run dynamics and long-run determinants of bilateral trade between Saudi Arabia (KSA) and Jordan during the period of 1995-2024 using the autoregressive distributed lag (ARDL) bounds testing approach. Employing a country-pair time series framework, the analysis...

In the modern globalized context, innovation represents a key driver of economic growth, while international trade plays an important role in fostering it. This study examines the relationship between the degree of trade openness and innovation performance across 27 EU member states over the...

Comparison of economies is essential for public policymaking but considerably hindered by the fact that statistics expressed in local currencies are not directly comparable. Market exchange rates give a distorted view, as they do not reflect the differences in price levels between countries.To...

This paper examines the asymmetric effects of oil price variations on MENA inflation from 1990 to 2021. Short- and long-term impacts were estimated by using Panel-NARDL models. To account for asymmetric effects, the price of oil was separated into positive and negative changes (oil+ and oil-),...

Moving beyond Gross Domestic Product (GDP) as the sole measure of economic performance is increasingly critical for addressing the complex challenges of sustainable development. The Inclusive Wealth Index (IWI) offers a more comprehensive framework for assessing long-term sustainability by...

Iceland continues to face CO₂ emission challenges despite its near-total reliance on renewable energy. This study analyzes the effects of GDP per capita, renewable energy consumption (RENC), foreign direct investment (FDI), and urbanization on CO2 emissions from 1990 to 2023, using an ARDL...