Wyniki wyszukiwania - BazEkon

1

Economic Resilience and the State: A Global Panel Analysis

100%

Paun C., Isaic R., Manea G. C., Shayb H.

Economics, Management and Sustainability

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2021

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6

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nr 2

34-45

Modern economies are disturbed by recessions that have become more and more globalized, much contagious between countries and regions, and with higher negative impacts during recessions. In this dynamic context, the recovery after the recession is essential to prepare the economy for the next business cycle. Understanding these business cycles (their causes and impact) is fundamental for public policies that should avoid being pro-cyclical and adding more vulnerabilities to the existing economic downturns. Economic resilience is now a key concept in the economic literature. It refers to the capacity of the economy to recover after a recession. This paper aims to explore the relationship between the dimension of the state and the resilience of the economic system by using global panel data. The study includes 87 countries (870 observations) and data covering 2009 - 2019 provided by World Bank. We used two dependent variables: GDP gap and GDP per capita gap, and 12 explanatory variables grouped in 4 categories (the dimension of the state, the quality of public governance, the economic development, and the regional/global economic dependence). The results are robust and significant. They confirm that the dimension of the public intervention and the quality of the public governance and administration have a clear impact on the economic resilience and the ability to recover from business cycles. (original abstract)

2

Estimation of Energy Intensity in Indian Iron and Steel Sector: A Panel Data Analysis

100%

Sharma A., Roy H., Nath Dalei N.

Statistics in Transition

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2019

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20

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nr 2

107-121

India is the world's third largest consumer of primary energy, which includes fossil fuels like coal, oil, etc. The total primary energy consumption in India in 2015 was 107 Mtoe. India's total final energy consumption was estimated at 527 Mtoe of which the industrial sectors consumed about 30% (185 Mtoe) in 2013. The Iron and Steel sector is one of the most energy-intensive industries, consuming about 25% of the total industrial energy consumption. The energy consumption in Indian Iron and Steel sector is on the declining trend. It declined from 10 GCal/tcs in 1990 to 6.9 GCal/tcs in 2010-11. On average, iron & steel plants spend about 20-40% of the total manufacturing cost to meet their energy demands. In fact, energy cost is considered as a major factor in pricing of the steel. Energy Conservation Act, 2001 (ECA), and the formulation of Bureau of Energy Efficiency are important initiatives taken up by government in order to reduce energy consumption by various sectors in the Indian economy. Another important initiative is launching of first of its kind market-based mechanism, Perform, Achieve and Trade (PAT) mechanism in 2010 particularly targeting the energy consumption by the industrial sector of the economy. Phase-I for PAT ran from 2012-015 including eight most energy-intensive sectors under Indian Industrial sector, with Iron and Steel sector being a prominent sector. The objective of this paper is to empirically estimate the energy intensity of Indian Iron and Steel sector, also accounting for the impact of ECA and PAT Phase-I in dummy variable form. The results indicate that the decline in energy consumption in this sector until 2011 can also be attributed to Energy Conservation Act implemented in the year 2001 along with other factors. This is empirically confirmed by our results that ECA has a significant impact on reduction of energy intensity of the steel firms. PAT does not seem to have a considerable impact on energy intensity alone but in the years where both PAT and ECA are prevalent, i.e. from 2012 to 2015, there seems to be a significant impact of around 0.050 reduction in energy intensity, as accounted by different models in this paper. There is one more observation from the empirical results that profit margin intensity was found to be negatively related to energy intensity implying more profitable firms invest more in energy efficiency. (original abstract)

3

Stock-Flow Adjustment - Only a Residual Value? Evidence From European Union Countries

100%

Banaszewska M.

e-Finanse

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2019

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15

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nr 3

10-20

The aim of the article is to investigate the fiscal determinants of stock-flow adjustment (SFA). Previous literature suggests that SFA may be used strategically to reduce budget deficit and public debt. As such, SFA impairs fiscal transparency and may endanger fiscal sustainability. Therefore, special attention should be paid by economists and policymakers. The study pertains to the European Union countries in the years 2005-2016. The empirical analysis supports the hypothesis that SFA is inversely related to public debt, whereas the inverse relationship between budget balance and SFA is not confirmed. The article contains additional analyses for selected components of SFA as well as narrower time and space coverage. (original abstract)

4

Are Subsidies for Polish Enterprises Effective: Empirical Results Based on Panel Data

100%

Gosk B., Nehrebecka N.

Ekonomia / Uniwersytet Warszawski

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2019

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6

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nr 53

108-131

The objective of this article was to identify and evaluate the effectiveness of subsidies used by companies, as well as to develop an approach to assess the effectiveness of subsidies for the manufacturing sector of Polish economy. In order to organise the results obtained by researchers dealing with the efficacy of subsidies, a meta-analysis, i.e. a quantitative assessment of empirical literature, was carried out. Based on the data from the financial statements of medium-sized and large Polish companies, published in Monitor Polski B (a former Official Journal of the Republic of Poland), an evaluation study was conducted to verify the research hypotheses. Based on the obtained results, it was found that the aid in the form of subsidies did not have a significant impact on the productivity of the subsidised companies, growth rate of assets or profitability. (original abstract)

5

Determinants of Foreign Direct Investment from EU-15 Countries in Poland

100%

Cieślik A.

Ekonomia / Uniwersytet Warszawski

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2019

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6

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nr 53

39-52

During the last two decades, Poland has become a large recipient of inward foreign direct investment (FDI). This article uses standard panel data techniques to study empirically the determinants of inward FDI in Poland during the period 1996-2015 made by multinational enterprises coming from the old European Union (EU)-15 member states. The estimated specification is derived from the knowledge-capital (KC) model and includes two types of capital: human and physical. The assembled empirical evidence points to the horizontal motive as the primary reason for undertaking FDI in Poland by multinational firms based in the old EU-15 member states. Moreover, the KC model does not seem to explain better the pattern of inward FDI in Poland compared to the standard ad hoc gravity model of international capital mobility. (original abstract)

6

The Impact of the Enterprise Financial Risk Management Function on Financial Performance in Bosnia and Herzegovina

100%

Abdić A., Rovčanin A., Abdić A.

e-Finanse

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2024

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20

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nr 1

64-80

Adequate enterprise financial risk management (EFRM) represents a leading competitive advantage of enterprises that determines market survival and business success in an uncertain global environment. Over time, EFRM has become a constituent part of integral business dealings of enterprises and one of the strategic functions of enterprise management. The main purpose of the paper is to explore the effects of the EFRM function/system on the financial performance of enterprises in Bosnia and Herzegovina (BiH). The basic source of data in the research was collected by means of a structured questionnaire. The target population in the research consists of large enterprises that have continuously operated in the territory of BiH (2013-2017). The selection of enterprises was made applying a random sampling method and contains 72 enterprises. Appropriate descriptive and inferential statistical methods were used in the data analysis and panel data analysis was used to assess effects of EFRM function on financial performance. The scientific contribution of the paper is reflected in the fact that the research is pioneering for Bosnia and Herzegovina with the analysis of effects of the EFRM function on enterprise financial performance (EFP). The results show that there are no systematic, statistically significant differences between large enterprises that engage in risk management ('hedgers') and enterprises that do not engage in risk management ('non-hedgers') in BiH. (original abstract)

7

Przychody pierwotne a nierówności dochodowe w krajach wschodzących

84%

Kotyło O.

Ekonomia Międzynarodowa

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2019

|

nr 26

96-111

Do potencjalnych przyczyn wzrostu nierówności dochodowych zalicza się procesy globalizacyjne, w tym migracje ekonomiczne i BIZ. Dotychczasowe badania koncentrowały się na związku między nierównościami dochodowymi a przepływami osób i kapitału. Niewiele uwagi poświęcano generowanym przez nie transferom dochodów rejestrowanym na rachunku obrotów bieżących jako dochody pierwotne. Dotychczasowe analizy poświęcone tym zagadnieniom skupiają się na skutkach transferów dochodów migrantów do kraju pochodzenia i odnoszą się głównie do krajów słabo rozwiniętych. W niniejszej pracy przeanalizowano zależność między przychodami pierwotnymi a nierównościami dochodowymi za pomocą narzędzi kointegracji panelowej dla sześciu krajów wschodzących: Polski, Czech, Egiptu, Rosji, Turcji i Chile. W odróżnieniu od większości dotychczasowej literatury za miernik nierówności dochodowych przyjęto udział najwyższego centyla w dochodzie narodowym wyznaczony na podstawie danych fiskalnych (baza danych WID). Wyniki analizy wskazują na długookresową, dodatnią zależność pomiędzy udziałem przychodów pierwotnych w PKB a udziałem najwyższego centyla w dochodzie narodowym. Wzrost (spadek) udziału przychodów pierwotnych w PKB stanowi ponadto długookresową przyczynę wzrostu (spadku) nierówności dochodowych. Otrzymane wyniki są odporne na zmianę metody estymacji (CCE, DOLS, VECM). Ograniczeniem niniejszej pracy jest niezadowalająca dostępność porównywalnych danych na temat badanych kategorii, utrudniająca rozszerzenie analizy na większą liczbę krajów wschodzących. (abstrakt oryginalny)

8

The Effects of Political Stability on Foreign Direct Investment in Fragile Five Countries

84%

Akın T.

Central European Journal of Economic Modelling and Econometrics (CEJEME)

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2019

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11

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nr 4

237-255

In this study, effects of political stability, economic freedom and trade freedom of above-stated Fragile Five Countries consisting of Brazil, Indonesia, India, Turkey, and South Africa on the performance of FDI appeal was analyzed with first generation panel data analysis method for the 1996-2017 period. The cointegration analysis between series was conducted by means of Kao (1999) and Pedroni (2004) test. The analyses showed that political stability and trade freedom have a significant positive coefficient on the Fragile Five Countries' FDI. It was also determined that the impact of economic freedom on FDI was statistically insignificant. Thus, it was concluded that the most important determinant of FDI entry into countries is political stability. Error correction mechanisms of models have been working well. In addition, it was found that political stability, economic freedom, and trade freedom are the cause of foreign direct investment in the long-run. (original abstract)

9

Intégration économique et synchronisation des cycles de croissance dans la zone UEMOA : Une approche en panel dynamique

84%

Ndiaye C. T., Adom I. M., Diene P. D. A.

Revue Internationale des Economistes de Langue Française : revue de l'Association Internationale de Economistes de Langue Française avec la collaboration Université des Sciences Economiques et de Gestion

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2019

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4

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nr 2

177-199

L ' objectif de cet article est de savoir de quelle manière évolue le degré de synchronisation des cycles de croissance réelle dans l ' UEMOA et dans quelles mesures l ' intégration économique impacte-t-elle cette synchronisation. Pour répondre à ces questions nous avons proposé une nouvelle approche de mesure du degré de synchronisation multilatérale des cycles économiques, et nous avons estimé un modèle de type panel dynamique par la méthode des moments généralisés conditionnels en deux étapes proposés par Arellano et Bond (1991), Bover et Blundell (1998). Nos analyses ont montré que les interrelations entre les économies de l ' UEMOA en termes d ' échanges commerciaux sont très limitées. Néanmoins, la synchronisation bilatérale de cycles, bien que faible, évolue depuis 2006. D ' après nos estimations, en somme, nous pouvons dire que les résultats obtenus suggèrent que les déterminants clés de la synchronisation des cycles de croissance économique dans l ' UEMOA sont le degré de la synchronisation de la période antérieure, les différences(abstrakt oryginalny)

10

The Influence of Macro- and Socio-Economic Factors on the Consumption of Music throughout the Year

84%

Woźniak M., Wysocki M., Lis S., Kijewski M.

Metody Ilościowe w Badaniach Ekonomicznych / Szkoła Główna Gospodarstwa Wiejskiego

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2023

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24(XXIV)

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nr 1

1-26

Popular research methods in assessing the impact of macroeconomic and environmental variables on music preferences were psychological experiments and surveys with small groups or analyzing the effect of one or two variables in the whole population. Instead inspired by the article of The Economist about February being the gloomiest month in terms of music listened to, we have created a dataset with many variables. We used Spotify API to create a dataset with average valence for 26 countries for the period from January 1, 2018, to December 1, 2019. Then we applied the regression and machine learning models to them. Our study confirmed the effects of summer, December, and the number of Saturdays in a month and contradicted the February effect. The influence of GDP per capita on the valence was confirmed, while the impact of the happiness index was disproved. All models partially confirmed the influence of the music genre on the valence. Among the weather variables, two models confirmed the significance of the temperature variable. Macroeconomic variables turned out to have non-linear relationships that made interpretations difficult, while the environmental ones clearly indicated a linear relationship with valence.(original abstract)

11

Ocena zmian postaw konsumentów zdrowej żywności (na podstawie analizy macierzy przepływów)

84%

Kondratowicz-Pozorska J.

Zeszyty Naukowe SGGW w Warszawie. Ekonomika i Organizacja Gospodarki Żywnościowej

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2006

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nr 60

179-185

W pracy zaprezentowano adaptacje pośredniej metody pozycjonowania, tj. macierzy przepływów do wyznaczania postaw zachowań konsumentów zdrowej żywności pochodzących z różnych grup zamożności. Do badania wykorzystano badania panelowe prowadzone w latach 2002 i 2005 na wybranej próbie konsumentów w zachodniopomorskim. (abstrakt oryginalny)

12

Praca tymczasowa w niepełnym wymiarze a przyszłe wynagrodzenie mężczyzn : analiza panelowa niemieckiego rynku pracy

84%

Matuszak P.

Wiadomości Statystyczne

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2020

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nr 10

7-23

Celem badania przedstawionego w artykule jest ocena związku między pracą tymczasową w niepełnym wymiarze wykonywaną przez mężczyzn a płacą, jaką otrzymują oni w ciągu pierwszych pięciu i dziesięciu lat od momentu zatrudnienia w pełnym wymiarze czasu pracy. W analizie empirycznej posłużono się danymi dotyczącymi niemieckiego rynku pracy pochodzącymi z Panelu Społeczno-Ekonomicznego za lata 1984-2014. Zastosowano estymator z efektami stałymi, który rozwiązuje problem nieobserwowalnej heterogeniczności poprzez transformację wewnątrzgrupową. Wyniki wskazują, że doświadczenie zatrudnienia w niepełnym wymiarze czasu pracy wiąże się z niższym przyszłym wynagrodzeniem - dodatkowy rok pracy w niepełnym wymiarze w okresie ostatnich dwóch do pięciu lat prowadzi do obniżenia płacy średnio o 4,4% w porównaniu z doświadczeniem pracy w pełnym wymiarze. Jednak po pięciu latach zatrudnienia w pełnym wymiarze czasu pracy związek ten jest już nieistotny statystycznie. Wyniki są stabilne przy różnych specyfikacjach modeli. Wykazano, że odwrotna zależność między pracą w niepełnym wymiarze a przyszłą płacą ma związek z doświadczeniem zatrudnienia w zawodach wymagających niskich i średnich kwalifikacji. Jednocześnie doświadczenie pracy w niepełnym wymiarze jest mniej niekorzystne dla przyszłego wynagrodzenia niż okresy braku zatrudnienia. (abstrakt oryginalny)

13

Employment Effects of Minimum Wage Changes Across Regions, Age Groups, and Sectorsage Groups, and Sectors

84%

Majchrowska A., Strawinski P.

Journal of Banking and Financial Economics

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2023

|

nr 2(20)

111-132

Increases in minimum wages in many developed and developing economies in recent years raise the question of whether and how they impact employment. We analyze the employment effects of minimum wage increases for different age groups of workers simultaneously. We construct a panel using three-dimensional cells formed by three age groups, two economic sectors, and 16 regions, separately for each year. We use individual data on employee and employer characteristics from the Structure of Earnings Survey and aggregated data from the Local Data Bank in Poland. The research period covers 2006-2020. Our results confi rm the differences in employment elasticity for different groups of workers. We discover latent heterogeneities with regions simultaneously experiencing both negative and positive employment effects of minimum wage changes for different groups of workers and sectors. Negative employment effects are observed mostly for youths, positive employment effects are predominant in the groups of workers aged 50 and over. The employment reaction to changes in the minimum wage is the result of a combination of regional labor market features. Negative employment effects are more likely in areas with larger proportion of workers in the private sector, in industries in which it is more diffi cult to increase the prices of goods or services produced, and where small fi rms are widespread. The results show that previous analyses at the aggregated level might underestimate the employment effects of the minimum wage. The results also show that the overall minimum wage effects cannot be easily predicted by policymakers. (original abstract)

14

Impact of Episodes of Regime Transformation on Subjective Well-being: A Panel Event Study

84%

Prati G.

Economics & Sociology

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2024

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17

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nr 1

11-22

This study aims to investigate the impact of a transition from democracy to autocracy (an autocratization event) and from autocracy to democracy (a democratization event) on three indicators of subjective well-being: life satisfaction, positive affect, and negative affect. Data on episodes of regime transformation was taken from the Varieties of Democracy, while data on subjective well-being was extracted from the Gallup World Poll. The combined dataset comprised data on 166 countries from 2005 to 2021. Over this period, 22 autocratization events and 18 democratization events occurred. The study used a panel event study framework and controlled for GDP per capita. The results show no clear and consistent evidence of an impact of regime transformation in either direction (democratization or autocratization) on the three indicators of subjective well-being. The findings also indicate the absence of any causal effect between the episodes of regime change and subjective well-being. (original abstract)

15

The Relationship Between Middle Income Trap and Structural Transformation: The Case of Selected Countries

67%

Soyyigit S.

Central European Journal of Economic Modelling and Econometrics (CEJEME)

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2019

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11

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nr 4

217-235

Many studies on middle income trap draw attention to the product trap that can be expressed as the fact that countries are stuck in the production and export of unsophisticated products. In this sense, it is stated that the role of a country in the production and export of sophisticated goods is one of the determinant factors to increase the level of income. In the literature, the concept of economic complexity, which is expressed as gaining competitiveness of complex products in terms of production and export, is noteworthy in recent years. In this framework, relationship between the per capita GDP and the economic complexity is examined with regression analysis in this study for selected countries with high-level of income. In the analysis, in which random coefficient panel regression model is applied, a significant relationship was found between the two variables for Austria, Finland, Hong Kong, Japan, Norway, Singapore and Sweden. (original abstract)

16

Is Foreign Direct Investment a Real Driving Force of Economic Growth? A Panel Data Analysis

67%

Khalilov L., Yi C.-D.

Central European Journal of Economic Modelling and Econometrics (CEJEME)

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2020

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12

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nr 3

273-299

The purpose of this empirical study is to find the relationship between economic growth and foreign direct investment (FDI) in the Commonwealth of Independent States (CIS) and Central and Eastern European Countries (CEECs) using endogenous technological change model. First, we combine the CIS and CEECs into one group to test our hypothesis, and then we test each group separately to account for heterogeneity and draw a conclusion whether FDI is indeed a driving force of the economy. Panel data have been used from 2003 to 2014 and different panel estimation methods have been applied. Additionally, we use the Generalized Method of Moments (GMM) panel estimator to control for endogeneity problem. The present study finds that FDI is an important factor explaining economic growth in the pooled group and CEECs, although it is not significant in the case of CIS. (original abstract)