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Jan Dithmer 《Applied economics》2020,52(23):2508-2525
ABSTRACTIn this paper, we examine the impact of trade openness on child health, based on a cross-country panel data set covering 66 countries for the period 1960–2013. To account for the time-series properties of the data and potential cross-country heterogeneity in the impact of trade openness, the study employs heterogeneous panel cointegration techniques that are robust to omitted variables and endogeneity problems. The results reveal that trade openness and child health are cointegrated, and that trade works to reduce the child mortality rate significantly in the long-run. The results are robust to the methodology and trade openness and child health indicators employed, as well as to the presence of cross-sectional dependence and changes in the sample composition. The findings also suggest that the impact of trade on child health tends to be stronger in countries with better institutional quality, lower corruption, good governance, political stability, and sound policies that promote private sector development. 相似文献
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This paper investigates the Feldstein-Horioka coefficients for 37 African countries using the recently developed Pooled Mean Group (PMG), Fully Modified OLS (FMOLS), and Dynamic OLS (DOLS) panel cointegration techniques. The empirical findings reported in this paper reveal that savings and investment are non-stationary and cointegrated series. The estimated coefficients using FMOLS, DOLS, and PMG are 0.38, 0.58, and 0.36, respectively, for the sample as a whole for the period from 1970 to 2006. These results confirm previous studies' findings that capital was relatively mobile in African countries compared to OECD countries. In addition, our study shows that there are marked differences in savings retention coefficients for different country groups in Africa (CFA franc zone and non-CFA franc zone countries, oil-producing and non-oil-producing countries, civil law and common law countries). These results have some policy implications. 相似文献
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Joakim Gullstrand 《Applied economics letters》2019,26(9):726-730
This article investigates trade effects of the euro focusing on the impact on bystanders. We use data for Swedish firms and examine the impact on exporting firms’ intensive and extensive margins of trade. Our result shows an overall increase in Swedish firms’ exports to the euro area after the introduction of the single currency, indicating that the euro has decreased trade costs also for outsiders. In addition, we find important heterogeneity in the sample, suggesting that it is the large majority of small firms that has increased trade flows with the Eurozone the most. 相似文献
5.
Exports and growth: Granger causality analysis on OECD countries with a panel data approach 总被引:1,自引:0,他引:1
Lszl Knya 《Economic Modelling》2006,23(6):978-992
This paper investigates the possibility of Granger causality between the logarithms of real exports and real GDP in twenty-four OECD countries from 1960 to 1997. A new panel data approach is applied which is based on SUR systems and Wald tests with country specific bootstrap critical values. Two different models are used. A bivariate (GDP–exports) model and a trivariate (GDP–exports–openness) model, both without and with a linear time trend. In each case the analysis focusses on direct, one-period-ahead causality between exports and GDP. The results indicate one-way causality from exports to GDP in Belgium, Denmark, Iceland, Ireland, Italy, New Zealand, Spain and Sweden, one-way causality from GDP to exports in Austria, France, Greece, Japan, Mexico, Norway and Portugal, two-way causality between exports and growth in Canada, Finland and the Netherlands, while in the case of Australia, Korea, Luxembourg, Switzerland, the UK and the USA there is no evidence of causality in either direction. 相似文献
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Sotirios Bellos 《International Review of Applied Economics》2012,26(3):303-328
This paper investigates the link between governance and foreign direct investment in the case of 14 transition countries by using a panel gravity model approach in two alternative ways. First, the level of governance in the target country is studied. Second, the absolute difference in the governance level between the source and target country is investigated. In both cases the results suggest that the lack of good governance does not deter, in fact it encourages, foreign direct investment. 相似文献
7.
欧元作为一种交易货币和储备货币将为中国的经济发展提供机遇,使发展中国家获得一个重要的资金筹措市场,并为全球货币体系与世界金融制度改革提供了示范效应。但是,欧元对中国经济发展的负面影响不容忽视。 相似文献
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Lars Nilsson 《Applied economics》2013,45(4):439-452
One of the reasons behind the re-negotiation of the Lomé Convention, resulting in the Cotonou Agreement, was the alleged inability of the trade provisions of Lomé to increase the African, Caribbean and Pacific (ACP) countries' market share of the European Union (EU) market. The Cotonou Agreement may lead to the more advanced ACPs being granted future market access to the EU under a generalized system of preferences (GSP), in conformity with World Trade Organization (WTO) rules. To this end, this paper makes a comparative analysis of the effects of the EU's Lomé Convention and GSP on exports of developing countries using a gravity type of model. The results indicate positive and statistically significant export effects of the both the Lomé Convention and the GSP. The export effects are greater in case of the Lomé Convention throughout the study period running from 1973 to 1992. In addition, the paper illustrates the EU country distribution of the export effects and shows that Belgium and The Netherlands are the EU countries that most have increased their imports from the developing countries under both the Lomé Convention and the GSP. 相似文献
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This paper studies the role of the markup of price over marginal cost for the transmission of fiscal policy shocks. We construct time series of markups allowing for fluctuations in capacity utilization and total factor productivity and use an aggregate production function that is more general than Cobb–Douglas. Including the constructed markup series in a bias-corrected panel vector autoregression with annual OECD data, we find that a positive shock to government spending tends to lower markups while raising output. The positive output response appears to result less from increases in hours worked than from the positive reaction of capital utilization. 相似文献
10.
The Pacific Island countries are small island economies that are increasingly dependent on energy for growth and development, yet highly susceptible to climate change. Thus, the relationship between energy consumption and GDP is crucial for realizing their future development and growth objectives. This article tests for Granger causality and provides long-run structural estimates for the relationship between energy consumption, GDP and urbanization for a panel of Pacific Island countries. For the panel as a whole in the long-run there is bidirectional Granger causality between energy consumption and GDP and these variables exert a positive impact on each other. A 1% increase in energy consumption increases GDP by 0.11%, while a 1% increase in GDP increases energy consumption by 0.23%. The findings suggest that for the panel as a whole these countries should increase investment in energy infrastructure and regulatory reform of energy infrastructure to improve delivery efficiency, continue to promote alternative energy sources and put in place energy conservation policies to reduce unnecessary wastage. These strategies seek to realize the dual objectives of reducing the adverse effects of energy use on the environment, while avoiding the negative effect on economic growth of reducing energy consumption. 相似文献
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This paper examines the long-run effect of the level of foreign direct investment (FDI) on the level of total factor productivity (TFP) for 49 developing countries for the period 1981–2011 using panel cointegration and causality techniques. It is found that (i) FDI has, on average, a negative long-run effect on TFP in developing countries, (ii) long-run causality runs in only one direction, from FDI to TFP, (iii) in the short run, TFP has a negative effect on FDI, and (iv) the long-run effect of FDI of TFP differs between selected groups of countries: While the estimated long-run FDI–TFP coefficients are always relatively large, negative, and significant for countries with lower levels of human capital, financial development, and trade openness, the estimated effects are relatively small, insignificant, or even significantly positive for subgroups of countries with higher levels of human capital, financial development, and trade openness. 相似文献
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Mark C. Strazicich 《Applied economics》2013,45(18):2325-2331
A panel of industrial countries is examined for evidence of ‘tax smoothing’. Tax smoothing results when governments minimize tax distortions over time. The model provides a positive theory of government debt and is due primarily to Barro. Unit root tests are performed in panel data to test the null hypothesis of nonstationary tax rates. Panel regressions are then undertaken to test the null hypothesis that tax rate changes are unpredictable and test for evidence of an alternative hypothesis. Political and economic variables are examined for their ability to predict tax rate changes. Overall, the results cannot reject the null hypotheses and support tax smoothing by national governments. 相似文献
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Maurizio Mistri 《Constitutional Political Economy》2007,18(2):107-126
This paper uses the logical tools of Constitutional Economics to analyze the creation of the Euro, considering the entire
process as the outcome of a conflict between different rules or, if you will, between different monetary systems, moving from
the system of flexible exchange rates to a system of fixed exchange rates and ultimately to the single currency. The conflict
between monetary systems has been acted out according to the single states’ collective preference functions, with both full
employment and price stability figuring among the weights of said preference functions. The “solution” of the single currency
was conceived when the body of information available to the policymakers was “simplified” by the new classical macro-economy
taking a hegemonic role. 相似文献
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María Santana-Gallego Francisco Ledesma-Rodríguez Jorge V. Pérez-Rodríguez 《Empirical Economics》2011,41(2):533-554
This article studies the empirical link between international tourism and trade. We apply dynamic heterogeneous panel data
techniques to analyse both long and short-run relationship for the case study of OECD countries. This link is studied by estimating
the cointegration vector and analysing the short causality between variables. The analysis recognises that inbound tourism
can promote international trade and also that international flow of goods requires and may encourage tourist arrivals and
departures. The statistical significance of this link supports the presence of business opportunities due to the potential
complementary relationship between tourism and trade. The results suggest a short-run nexus between tourism and trade, and
that these variables are cointegrated. 相似文献
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Juncal Cuñnado Fernando PÉrez De Gracia 《International Review of Applied Economics》2003,17(3):327-337
This paper estimates the sacrifice ratios based on the Phillips curve. Using annual data, we estimate individual and common sacrifice ratios for EMU countries. In addition, we test whether the sacrifice ratio is stable for the whole period, which includes years of both high and low inflation rates, such as those observed after the European integration. 相似文献
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This study applies the Sequential Panel Selection Method (SPSM), proposed by Chortareas and Kapetanios (2009) to test the validity of long-run purchasing power parity (PPP) for a sample of 14 transition countries, using real effective exchange rates, from 1994 to 2012 (for both monthly and quarterly data). SPSM classifies the whole panel into a group of stationary series and a group of non-stationary series. In doing so, we can clearly identify how many and which series in the panel are stationary processes. Empirical results from the SPSM using the Panel KSS unit root test (Ucar and Omay, 2009) with a Fourier function indicate that PPP holds true for most of these transition countries studied. Our results have important policy implications for these transition countries under study. 相似文献
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This paper introduces the Rossi and Sekhposyan (Am Econ Rev 105(5): 650–655, 2015) uncertainty index for the Euro Area and its member countries. The index captures how unexpected a forecast error associated with a realization of a macroeconomic variable is relative to the unconditional distribution of forecast errors. Furthermore, it can differentiate between upside and downside uncertainty, which could be relevant for addressing a variety of economic questions. The index is particularly useful since it can be constructed for any country/variable for which point forecasts and realizations are available. We show the usefulness of the index in studying the heterogeneity of uncertainty across Euro Area countries as well as the spillover effects via a network approach. 相似文献
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This paper examines price and inflation convergence between three European countries (Italy, Spain and the U.K.) and a European average and, alternatively, between them and Germany from the beginning of the 80's. For this purpose the long-run stochastic relationships on prices derived from the convergence criteria agreed in the Maastricht Treaty are analyzed. In order to do this, some recent unit root tests have been applied as well as time-varying parameters models. The results reject the long-run convergence hypothesis in all the cases but allow us to accept the existence of catching-up with the European average and Germany in some cases depending on the nature of the prices and on the countries considered. First version received: March 1997/final version received: May 1999 相似文献
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Miaojie Yu 《Journal of development economics》2010,91(2):289-300
Does democracy affect trade? There are several channels by which democracy may affect trade, with differing implications. First, democratization in the exporting country can improve product quality and reduce trade costs, increasing bilateral trade. Second, democratization in the importing country may increase trade barriers and thus reduce imports. In this paper, I analyze the effect of democracy on trade by augmenting the gravity equation with democracy. Using a rich panel data set and controlling for the endogeneity of democracy, I find empirical evidence consistent with the hypothesis that democracy fosters trade. This finding is robust to various econometric methods and to the use of disaggregated specifications. 相似文献
20.
贸易便利化:发展中国家的机遇与挑战 总被引:5,自引:0,他引:5
近几十年来,随着国际贸易在全球范围内的不断扩展,人们逐步意识到复杂的海关及贸易相关程序将对经济发展带来不利影响。贸易便利化逐渐成为发达国家和发展中国家共同关注的问题。贸易便利化旨在为国际贸易活动创造一种协调、透明和可预见的环境。它以国际公认的标准和惯例为基础,涉及各种手续和程序的简化,基础设施和设备的标准化,以及改进对各种适用法律和规定的协调。贸易便利化的主要目标在于减少国际商贸活动中的交易成本,降低交易的复杂性,改善一国的贸易环境,同时使政府的管制措施更为有效。贸易便利化可为发展中国家带来各种好处。从… 相似文献