The industry-level estimates of social return are valid only if returns to scale are constant and all firms within an industry face a common factor price (Griliches, 1992). When these assumptions hold, the within-industry social returns are expected to be higher than private returns as the ...
First, we introduce indicators of innovation input and technological specialization simultaneously into the empirical growth equation. Second, we employ the system-GMM (Generalized-Method-of-Moments) panel estimator that controls for (a) the possible specification bias when variables are highly persistent...
In the context of these econometrics problems, the SYS-GMM method is used in this study. The Sargan test was conducted to over-identify the constraints on the validation of the instruments. The Sys-GMM estimator method’s effectiveness is further validated by analyzing the autocorrelation of the...
the authors carried out a comprehensive econometric analysis, based on the fixed-effect model, the random-effect model and the feasible generalized least squares estimator, as well as a battery of tests to prevent problems of multicollinearity, heteroscedasticity and autocorrelation of the error terms....
Our point estimates suggest that a 1% increase in transport infrastructure is associated with an increase in CO2 emissions of about 0.4%, although dependent on the long-run estimator used. Our non-parametric estimates suggest a time-varying relationship between transport infrastructure and CO2 ...
Eberhardt, M., & Bond, S. (2009). Cross-section dependence in nonstationary panel models: a novel estimator. Fan W, Hao Y (2020) An empirical research on the relationship amongst renewable energy consumption, economic growth and foreign direct investment in China. Renewable Energy 146:598–60...
while the panel corrected standard errors proved to be an efficient and appropriate estimator. The results are consistent with the usual drivers indicated in the literature; both CO2emissions and economic growth positively and significantly affect energy consumption in all the eight panels, including the...
(2007) methodology. Then, we examine the impact of globalization and energy consumption on the ecological footprint (EF), and test the existence of the EKC hypothesis using the dynamic ordinary least squares mean group (DOLSMG) estimator. The convergence test results indicate that OECD countries ...
We also employed the panel augmented mean group (AMG) estimator to examine the EKC hypothesis. However, we confronted a multicollinearity problem due to the use of the square of real GDP in the model specification. References Acar Y, Gürdal T, Ekeryılmaz Ş (2018) Environmental Kuznets ...
These results show that, if the reduction of the structural balance has to be considered as an objective to be achieved per se , such a goal should not be pursued in times of deteriorating macroeconomic conditions.doi:10.1057/ces.2014.26Rosaria Rita Canale...