Panel Data Econometrics - Science topic

This study investigates the interactions between per capita CO 2 emissions, economic growth, energy consumption (renewable and nonrenewable), agricultural, industrial, and services value-added, and trade openness across a panel of 23 European countries from 1995 to 2022. The empirical analysis is based on panel data econometric approaches (fixed ef...

This research aims to determine and analyze the effect of Coal Consumption per capita (Kwh), Oil Consumption per capita (Kwh), Gas Consumption per capita (Kwh), and Renewable energy consumption per capita (Kwh) towards GDP per capita (current US$). This research uses GDP Per Capita (current USD) data sourced from world banks with a period from 1994...

Most South Asian countries’ economies have grown dramatically during the past few decades. However, in light of their environmental sustainability goals, the quality of such growth performances by South Asian nations is called into doubt by the concurrent degradation in environmental quality. Consequently, reducing the environmental challenges thes...

This paper shows that shareholder value orientation and non-financial corporate indebtedness are negatively associated with union density within the EU over the last 21 years. We argue that the financialisation of non-financial corporations makes them prioritise their ‘external (economic) balance’ at the expense of a cooperative ‘internal equilibri...

This research investigates the effects of renewable (REC) and disaggregated non-renewable energy consumption (coal, oil, and natural gas) on CO2 emissions (CO2) in GCC countries, employing the STIRPAT model. The research also compares the impact of various non-renewable energy (NREC) sources to identify their contributions to CO2 emissions. Demogra...

Research Aims: The financial market depth has emerged as a phenomenon shaping developing economies with large financial sectors. This paper presents the effect of financial market depth on economic growth in developing countries with large financial sectors from 1996 to 2022. While developing countries are typically characterized by lower levels of...

The study’s main purpose is to examine the impact of cross-border e-commerce factors such as e-taxation, e-trade policy, distance, gross domestic product, international restriction, antidumping and countervailing duties on exports of goods and services. This study provides a new perspective on cross-border e-commerce activities in Belt and Road cou...

Sustainable cities are considered paradigmatic to achieve COP27 targets, but scant literature has analyzed the association with CO2 emission (CE) mitigation policies, especially for the G7 economies. This study traces the impacts of urbanization, innovation, income, and energy consumption on CE for the G7 countries from 1995 to 2019. The time perio...

This exploratory research investigates the complex dynamics among capital structure, board characteristics, and financial performance in listed non-financial companies in Nigeria. Utilizing purposive sampling, the study focuses on 67 companies, primarily non-financial, renowned for consistently providing accessible data. Annual reports from 2012 to...

News media influence how climate change is represented, understood, and discussed in the public sphere. To date, media and climate change research has primarily focused on Annex I countries, or treated non-Annex I countries as a homogenous bloc, despite the global nature of climate change and its geographically uneven impacts. This study uses a mix...

Coal is crucial for economic progress but equally baneful to the environment. Thus, the coal consumption-environmental sustainability nexus attracted the attention of both policymakers and scholars. This study evaluates the coal consumption-environment nexus in developed and developing countries over the period 2000–2020. We used panel data econome...

This paper presents a comprehensive analysis of key financial indicators influencing the operational efficiency of banks in Jordan over the period 2006 to 2021. The study, focusing on fifteen commercial banks, employs seven regression models to assess the impact of selected variables on bank operating efficiency. Our findings reveal novel insights...

The study presents the long- and short-term relationship between international trade flows (exports/imports) and economic development (GDP) as the main driver of international economic trade. Panel data econometric models emphasize the fixed effects of the eight Central and Southeast European Union countries. The cointegration condition is met to i...

The objective of this research is 1) to explore time and space characteristics, as well as the origin of labor shortage and 2) to find out whether there exists a long-run equilibrium relationship between labor shortage and its determinants using panel data for 82 subjects of the Russian Federation over 2000–2021 and some tools of panel data econome...

The present study analyzes the effect of financial structure on the value of the Dhaka Stock Exchange (DSE) listed cement manufacturing firms in Bangladesh. The study uses panel data collected from the audited financial statements over the fifteen years from 2006 to 2020 of five sample firms. Through the use of panel data econometric estimation mod...

RESUMEN En el año 2007 el gobierno mexicano llevo a cabo reformas en la forma de distribuir y transferir recursos a los gobiernos subnacionales persiguiendo una serie de objetivos dentro de los cuales resalta el tratar de disminuir los desequilibrios fiscales que estos venían arrastrando. El propósito de este artículo es identificar la correlación...

The advancement of technology has significantly improved energy measurement systems. Recent investment in smart meters has enabled companies and researchers to access data with the highest possible temporal disaggregation, on a minute-by-minute basis. This research aimed to obtain data with the highest possible temporal and spatial disaggregation....

The aim of the paper is to determine the effect of Multinational Enterprises on economic development, measured by the Human Development Index, in a group of 58 high and upper-middle income countries where they operated from 2005-2016, while considering the role of free trade agreements. We follow a robust dynamic panel data econometric methodology....

The literature abounds with studies on the impact of the growth of nations on the environment. However, studies on the financial materiality of environmental concerns are found less often. This study aims to determine the impact of environmental concerns on a nation’s GDP per capita (GDPC). In addition, the influence of developed nations and democr...

Though construction sector development and economic openness contribute to regional economic development, they have also been debated to pose some environmental challenges. Along these lines, we explored the long- and short-term connections of intensive energy consumption, economic openness, and construction sector development with the chemical oxy...

The scientific evaluation and identification of the relationship between urban comprehensive carrying capacity and urbanization in Northeast China, a famous old industrial base, is an important basis for realizing the overall revitalization of the region. Using a panel data set of 34 prefecture-level cities in Northeast China from 2003 to 2019, thi...

This paper studies the relationship between the profitability of Nigeria deposit money banks (NDMB) and their stock price behavior, noting in particular the disparity between banks' profit and stock price. We link Banks share price to the size of total asset, return on average asset (roaa) and return on average equity (roae). Net interest margin (N...

Russia’s war against Ukraine, which originated in the midst of the COVID-19 pandemic, is undoubtedly one of the defining events of this current period, expected to exert a significant impact on the entire world’s economies. This study aims to determine whether the conflict between Russia and Ukraine has a significant impact on European Union (EU) M...

Firms’ financial distress (FD) is a major issue for smooth business activities. Timely recognition of FD should be a prime concern; otherwise, it may cause a nasty bankruptcy situation. The FD issue is paramount to researchers, policymakers, and investors. Several factors, whether they are financial or non-financial, may be responsible for financia...

The majority of policymakers in the more developed countries have engaged in Reaganomics and Thatcherism in the last four decades by privileging the adoption of wage restraint policies to sustain economic growth. During that time, the wage share has registered a sustained fall, and economic growth has been rather dismal, which seems to support the...

The main purpose of this article is to investigate the impact of economic growth, foreign direct investment (FDI), and trade openness (TO), and the Asian and global financial crisis on environmental quality based on the environmental Kuznets curve (EKC) hypothesis on panel data of 32 Asian economies over the 1991-2019 period. Our study supports the...

Promotion of clean cooking fuel and technologies helps countries in achieving its sustainable development goals, thereby fulfilling environmental sustainability and empowering the status of women. Against this backdrop, the prime focus of this paper is to examine the impact of clean cooking fuels and technologies on overall greenhouse gas emissions...

This study examines the dynamic impact of face mask use on both infected cases and fatalities at a global scale by using a rich set of panel data econometrics. An increase of 100% of the proportion of people declaring wearing a mask (multiply by two) over the studied period lead to a reduction of around 12 and 13.5% of the number of Covid-19 infect...

The objective of this paper is to provide insights on some widely used Panel Data Econometric Models to determine the best one. With this aim, data of Organized Manufacturing Sector from the Annual Survey of Industries has been used. Pooled OLS, First-Difference, Time-Demeaning and Random Effects models have been estimated using a sample of 26 stat...

As an important tool for high-quality development, the digital economy plays a key role in the low-carbon transformation of Chinese cities and implementing the "double carbon" strategy. This paper attempts to systematically examine the effects and impact mechanisms between the digital economy and carbon emissions at theoretical and empirical levels...

This study endeavors to investigate the environmental cost of FDI inflows in the Sub-Saharan African (SSA) region over the period of 2006 to 2020. There are two opposing theories about how FDI impacts the environment, namely, the pollution halo hypothesis (PHH) and the pollution haven hypothesis (PH). Given the SSA region’s poor environmental perfo...

By utilizing data of 1,336 Microfinance Institutions (MFIs) from 91 emerging and developing countries for the period 2010-2018, this study investigates the non-linear/quadratic relationship between employee turnover and the depth of outreach of MFIs. The data were analysed using 10 conventional panel data econometric tools and techniques. In genera...

The purpose of this study is to determine and analyze several variables that affect the Air Quality Index (AQI) in Indonesia in 2012 – 2019. The data used in this study is secondary data in the form of panel data related to the variables of AQI, circular economy, and digital economy in 34 provinces in Indonesia in the period 2012 – 2019. The second...

This paper develops a panel data econometric analysis in order to determine the main macroeconomic drivers of household indebtedness in the European Union countries from 1995 to 2019. During that time, household indebtedness reached unprecedented and unsustainable levels, which played a crucial role in the emergence of the last financial and econom...

The inflows of FDI has revealed a catalyst effect on economic progress with sustainability. Furthermore, continual inflows of FDI prompts. The motivation of the study is to evaluate the effects of energy, good governance, education, and environmental regulation on inflows of FDI in china for the period 1997-2018. A panel data econometrical techniqu...

The Kenyan manufacturing sector's contribution to the economy has been declining. It has stagnated at 10% of the gross domestic product (GDP), contributing to an average of 10% from 1964-1973 and marginally increased to 13.6% from 1990-2007 and has been below 10% in recent years further dropping to 8.4% in 2017 and 7.1% in 2020 ultimately hitting i...

Ce travail de recherche porte sur l’étude de l’impact des mécanismes internes et externes de gouvernance sur la performance bancaire. À partir d’un échantillon composé de 12 banques commerciales algériennes (6 banques publiques et 6 banques privées) sur une période de 13 années (2007 à 2019), nous analysons à l’aide de l’économétrie des données de...

Purpose ― The main objective of this study is to explore the relationship between bilateral official development assistance and the export of Turkey to 18 Turkish aid recipient countries between 1998 and 2019. Methods ― The study employs the gravity model of international trade to capture the effect of official development assistance on Turkish exp...

The majority of policy makers in developed countries have, since the 1970s and 1980s, put in place a strong process for the liberalization, deregulation and privatization of the financial system, particularly persuaded by the mainstream assumption that this represents the best strategy to sustain the growth of finance, enhance economic growth and l...

This article employs a panel data econometric approach in order to empirically ascertain the role of the phenomenon of financialization in the deceleration of labor productivity in the European Union countries from 1980 to 2019. During that time, the European Union countries suffered a huge structural transformation based on Reaganomics and Thatche...

The Kenyan manufacturing sector’s contribution to the economy has been declining. It has stagnated at 10% of the gross domestic product (GDP), contributing to an average of 10% from 1964-1973 and marginally increased to 13.6% from 1990-2007 and has been below 10% in recent years further dropping to 8.4% in 2017 and 7.1% in 2020 ultimately hitting i...

On the one hand, the twin perspectives of the construction industry and urban agglomeration proliferate economic prosperity. However, on the other hand, construction activities and increased population density give rise to environmental challenges. This study is an initial attempt to explore links between the construction industry, urban agglomerat...

Innovative enterprises may undertake innovation activity in the form of research and development (R&D) or the acquisition of already developed technology (imitative innovation). Both types of innovation may influence economic growth or catching-up processes in different ways. Therefore, in the research presented, various types of innovation activit...

The impact of a free press on development may never have been adequately assessed. It is tough, if not impossible, to calculate such an effect. However, the purpose of this study is to investigate the impact of media freedom on the Human Development Index (HDI) in a group of 21 countries in Southwest Asia in the annual period from 2002 to 2020. To...

The purpose of the research is to analyze the effects caused by the competition of companies with labor informality on the innovative behavior of companies with labor formality that compete in the same industry. This research references and analyzes the implementation of law 1429 of 2010, which stimulates the formalization of labor and informal fir...

Carbon neutrality has been widely acknowledged as a challenge to environmental mitigation and global climate change policy. The current study examines the association between collaboration in climate change mitigation technologies (CMTs), energy productivity (EP), natural resources rent (NRR), renewable energy consumption (REC), and environmentally...

To what extent do high school students’ course grades align with their scores on standardized college admission tests? People sometimes make the argument that grades are “inflated”, but many school districts only use outcome-based descriptive methods for school evaluation. In order to answer that question, this paper proposes econometric models for...

This study aims to empirically investigate the effect of Science, Technology, and Innovation Official Development Assistance (STI ODA) on the innovative capacity of developing countries. Particularly, this study attempted to examine the moderating effects of R&D investment and its effect on innovative capacity. To do this, a panel fixed model analy...

Background and Objectives Most job leavers in the long-term care (LTC) sector in England do not leave the sector, but rather move to other LTC employers. Nevertheless, the high ‘churn’ can have a negative impact on continuity and quality of care, care providers’ recruitment and training costs, and the remaining staff workload and motivation. This s...

Does development lead to happiness, this is the main question which we attempted to analyze in this paper. Researchers trying to measure the association between happiness and development widely differ in their observations depending upon the data (whether cross sectional or time series; short-term or long-term) and measure of development (level of...

The economies of the majority of the South Asian countries have substantially expanded in the last couple of decades. Nevertheless, the simultaneous deterioration in environmental quality questions the quality of such growth performances of the South Asian countries in light of their environmental sustainability objectives. As a result, limiting th...

Since the 1990s, Tunisia has experienced an increasingly pronounced trade openness and has adopted a multitude of reforms to reinforce it through a large number of agreements with different foreign partners. However, this openness has gone simultaneously with an increase in regional inequalities wish have continued to grow, that is why we are inter...

This book on Panel data econometrics is for graduate students from institutes, schools and faculties of economics and management. It can also be very useful for any teacher or business practiciens (bank, ministry, hospital, etc). It is an ideal textbook for a first course in panel analysis and modeling. The book starts with an outline of some ratio...

The World Bank estimates that the Sub-Saharan Africa region needs to invest approximately 7.1 percent of GDP each year in infrastructure if it is to meet its Sustainable Development Goals. However, investment is currently running at around 3.5 percent of GDP. Boosting private investment in infrastructure has become more urgent than ever as African...

This paper studies the impact of remittance flows on the size of informal economies in post‐Soviet countries. We compile a unique data set from a cluster of transition economies and use panel data econometric models to estimate effect sizes. Identification comes from varying macroeconomic conditions in Russia, which are plausibly exogenous to curre...

It is reasonable to expect that the energy needs of the top emerging economies will increase over the coming decades as their economies expand rapidly. There may be environmental costs to using conventional energy from fossil fuels to meet increased energy demand. Therefore, this study aims to investigate the link between energy efficiency and ener...

The proliferation of trade agreements has offered a viable framework for the economic and trade integration of many nations. Additionally, the growth and expansion of global value chains has increased prospects for knowledge and technological spillovers as well as the potential for production method convergence. This might have possible effects on...

The environmental regulations–ecological footprint nexus is occupying an important space in the current debate of energy economics. As a counter measure to environmental degradation, implementing environmental regulations remains on the agenda of scholars and policymakers alike, but whether these regulations have a reducing impact on the ecological...

The purpose of this study is to determine the factors that have the potential to increase inequality in Indonesia. Inequality can be caused by economic and social factors, including unequal economic potential and activity, quality of human resources (measured by Human Development Index or HDI), population, investment, workforce, and government spen...

Climate change has been one of the factors inducing people to migrate internally. As a result of climate change risks, the temporal migration strategy has been employed as an insurance strategy to cope with its impacts. This study analyses whether climate variability is a driving factor for temporal migration among agricultural households and wheth...

We revisit the Helmert transformation, and provide a useful and simple derivation of the joint distribution of the sample mean and the sample variance in samples from independently and identically distributed normal random variables. Our derivation is distinguished by concreteness, very little abstractness, and should be appealing to beginning stud...

Theoretically based on national income accounting identities, the Feldstein-Horioka hypothesis downplays, if not totally ignores, the influence of monetary factors on international capital mobility. Recognizing the historical development of economics and the institutional arrangements of the exchange rate regime, this study extends the theoretical...

The aim of the paper is to determine the effect of the Multinational Enterprises of the United States (US-MNE) in the reduction of poverty in a group of 18 developing countries where they operate for the period 2009-2018. Furthermore, the determining factors of the attraction of US-MNE to these countries are estimated and it is tested whether they...

In the field of econometrics, panel data are an extremely important type of data. In macroeconomic research, panel data models are widely used in exchange rate determination theory, testing of cross-border economic growth and convergence theory, analysis of industrial structure, research on technological innovation, etc. The agglomeration and popul...

The decrease of the smallholder sugarcane area is the major problem for the Indonesian plantation white sugar industry. This study aims to analyze factors that affecting the decrease of the smallholder sugarcane area. This study uses a panel data econometric model; using cross-sectional data from five provinces of smallholder sugarcane base area (E...

This study aims to determine whether the effect of income inequality on economic growth is realised through transmission channels theoretically expressed. This relationship is examined for 143 countries and the periods between 1980 and 2017 through positive and negative channels. These countries are divided into two groups by considering their inco...

The problem of determining the cost of equity is crucial to the development of organizations. It is an essential means of calculating value creation. The financial literature has proposed several models for estimating the cost of equity, such as the capital asset pricing model (CAPM). However, this model is only used for listed companies, and canno...

Suicide has been a major public health issue worldwide and a growing number of researches have been conducted to unveil the association between socioeconomic factors and suicide rates. The aim of the present study is to detect if socioeconomic factors have impacts on suicide rates in age-adjusted, men, women and young people. To meet this objective...

It is a global challenge to achieve sustainable economic growth by improving the environment. The present study discussed the role of the financial development sector in achieving sustainable economic growth and environmental quality in South Asian countries from 1990 to 2020 by controlling labour force participation, globalization, industrializati...

Developing countries have depleted their natural resources in economic interest to achieve high economic growth. Current urbanization patterns and energy consumption and natural resource extraction are largely unsustainable. In this background, this paper investigates the impact of natural resources rent, energy resources consumption, and tax reven...

The world, addressing to achieve rapid and drastic economic growth by relying on fossil fuel energy consumption, could increase already increasing level of carbon dioxide (CO2). Therefore, there is a growing consensus that environmental sustainability by using renewable energy is the only option to avoid environmental calamity. Therefore, according...

Climate change and extreme weather shocks pose serious threats to a number of agricultural outcomes, including agricultural production, productivity, and income, especially when households depend heavily on this activity. Agricultural extension and rural advisory services are key instruments in promoting technical change, advancing agricultural pro...

During the last decades, the deepening of globalisation has led to an intensification of two forms of international human mobility – tourism and migration. Considering the high proportion of migrant workers in the tourism industry, migration’s possible negative or positive impact on international tourism comes to the forefront. The current article...

This paper proposes a new variant and reinvestigates the validity of the Balassa–Samuelson (BS) hypothesis for nine East and South Asian countries under new specifications. The BS hypothesis is often criticized for one of its fundamental, but oversimplified assumptions related to Purchasing Power Parity (PPP) holding which can be confirmed for cron...

Trade openness plays a significant role in the growth process of countries. The purpose of this research is to examine the impact of macroeconomic determinants on trade openness. The study focuses on the Southern and Eastern European countries and the data used were from 2010 to 2020. Panel data econometrics techniques, the fixed effect, and the Po...

This approach focuses on the renewable energy-carbon emission nexus by delivering new empirical evidence from 37 members of the Union for the Mediterranean. The approach makes use of panel data for the period 2002–2018 and uses panel data econometrical approaches, which are panel random effects regression, feasible generalized least squares regress...

This paper aimed to determine the effect of the Chinese multinational enterprises in the reduction of poverty in a group of 36 high and upper-middle-income countries where they operate for the period 2009-2018. A dynamic panel data econometric methodology was used. It is found that these multinationals positively influence poverty reduction. Conseq...

The work at hand presents a new extensive panel dataset for energy economics, econometrics and policy. The referred dataset is made of 5000 observations circa, including 6 energy economics variables and the majority of the world’s countries (n = 136), extended for 6 years (2009–2014). Data can be used for diverse energy econometrics studies, especi...

Unlike previous studies, this study attempts to fill the research gap in the area of consumption-based carbon emissions by introducing the role of energy productivity and eco-innovation along with international trade. To fill the mentioned research gap, the present study aims to evaluate the impact of eco-innovation and energy productivity on trade...

This paper aims to assess sociodemographic and environmental factors on food consumption expenditure of urban poor households in 33 provinces in Indonesia from 2008-to 2019. The data used in this study were sourced from the Central Bureau of Statistics. The method used is panel data econometrics with a fixed-effect model. This study provides empiri...

This study explores the relationship between HT concentration and income and the validity of the diversification curve. The validity of the resource curse hypothesis for the HT sector is tested. The effect of the country scale and trade volume on concentration in the HT sector is also examined. This research uses empirical methods to analyze the r...

This paper employs a panel data econometric approach in order to empirically ascertain the role of the phenomenon of financialisation in the deceleration of labour productivity in the European Union (EU) countries from 1980 to 2019. During that time, the EU countries suffered a huge structural transformation based on Reaganomics and Thatcherism and...

Many emerging economies seek to increase their Foreign Direct Investment (FDI) inflows to achieve some promised benefits, such as economic growth and advanced technologies. Nevertheless, FDI does not represent a random investment decision, and international literature demonstrates that foreign investors are mostly interested in fast-growing regions...

The study examines how the strength of the application of audit and accounting standards, as a component of the institutional infrastructure, affects the greenfield FDI in the four countries of the former Socialist Federal Republic of Yugoslavia over a twelve-year period (2006-2017). Using standard panel data econometric techniques, we conclude tha...

Global climate change adversities have particularly sparked the urgency in mitigating carbon dioxide emissions across the world. Against this backdrop, the paper attempts to investigate the validity of the carbon dioxide emission-induced Environmental Kuznets Curve (EKC) hypothesis controlling for the impacts of export quality on the economic growt...

The life insurance industry has experienced phenomenal growth over the years. The broad aim of this study was to establish the variables that influence the demand for life insurance in the BRICS countries (Brazil, Russia, India, China and South Africa). Although many studies have investigated the determinants of life insurance demand, little resear...

This study examines the relationship between green energy, non-renewable energy, financial development, and economic growth with carbon footprint by using panel data from 63 emerging and developed economies for the time period from 1990 to 2020. The study utilises second-generation panel data econometrics techniques to investigate cross-section ind...

Abstract Since 2007, the majority of FDI flows to Morocco, an average of 74%, have come from developed countries. This reality of FDI in Morocco leads to questions about the determinants of its attractiveness. In fact, the location of multinational firms could emanate either from a rational choice based on the advantages of Morocco, or from a syste...

Land development, which typically results from the conversion of lands previously in agricultural and forest uses, is one of the most fundamental ways in which humans impact the natural environment. We study the remarkable decline in land development rates across the conterminous United States over the period 2000–2015, which occurred after develop...

This paper examines the nature of the economic activity–energy use nexus for 82 countries and the period from 1971 to 2014. Compared to all other papers, the current study is based on a significantly larger number of observations and was carried out by using new and advanced non-stationary panel data econometric techniques that overcame most of the...

The impact of technological innovation, research and development, and energy intensity on carbon dioxide emissions is examined in this study. A panel data econometric analysis of relevant variables extracted from the OECD and World Development Indicators databases for 36 OECD and 5 BRICS countries from 2005 to 2018 reveals that the Kao panel cointe...

Agricultural activities have a significant impact on environmental quality because they generate waste that pollutes water and soil. In parallel, the supply of products has diversified in recent years to meet the growing demand, exerting strong pressure on the capacity for regeneration and absorption of waste from nature. This research aims to exam...

The succession of financial scandals and resounding bank failures that characterized the economic environment over the past three decades have given more weight to governance mechanisms. As such, considered to be one of the most important internal governance mechanisms, the board of directors has shown its strengths in controlling earnings manipula...

This study, using panel data econometrics for the economies of Brazil, Russia, India, China, South Africa and Turkey, examines the short-and long-term relationships between nominal effective exchange rates and real effective exchange rates using data at a quarterly frequency for the period between January 1994 and June 2021. We apply the Pedroni (1...

This article presents an empirical investigation of factors influencing local renewable energy (RE) deployment. The existing literature has mainly focused on the global contribution of RE at the macro-country level. The particularity of this study resides in the extension of the analysis to the local level, and it was motivated by the fact that the...

The relationship between income and pollution is contested, yet wealth alone is insufficient to regulate emissions, which necessitates environmental regulations. Even if inadequate environmental laws may overcome market failures produced by pollution’s negative externality, a thorough examination of their function in pollution management is critica...

This paper draws an empirical reassessment of the finance-growth nexus by performing a panel data econometric analysis for all 28 European Union countries over 27 years from 1990 to 2016. Since the mid-1980s, the financial system has experienced a strong liberalisation and deregulation by preventing its beneficial effects on the real economy. This...

We estimate fundamental pricing relationships in selected European day-ahead electricity markets. Using a fractionally integrated panel data model with unobserved common effects, we quantify the responsiveness of hourly electricity prices to two fundamental leading indicators of day-ahead markets: the predicted load and renewable generation. The ap...

Conditional incentives are a promising complementary approach to conserve tropical forests, for example, in multiple-use protected areas. In this paper we analyze the environmental impacts of Bolsa Floresta, a forest conservation program that combines direct conditional payments with livelihood-focused investments in 15 multiple-use reserves in the...