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): The quality of American life: perceptions, evaluations, and satisfactions. Russell Sage Foundation, New York. Clark, A. (2003): Unemployment as a social norm: psychological evidence from panel data. Journal of Labor

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. Levin , A. – Lin , C. – Chu , C. ( 2002 ): Unit Root Tests in Panel Data: Asymptotic and Finite Sample Properties . Journal of Econometrics 108 : 1 – 24 . Mackenbach , J

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. — Chu , C. S. ( 2002 ): Unit Root in Panel Data: Asymptotic and Finite Sample Properties . Journal of Econometrics , 108 ( 1 ): 1 – 24 . Levine , R. ( 2005

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): Factors Affecting the Evolution of Renewable Electricity Generating Capacities: A Panel Data Analysis of European Countries . International Journal of Energy Economics and Policy 8 ( 5 ): 161 – 172

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Acta Oeconomica
Authors: Ivan Vujačić, Jelica Petrović-Vujačić, Svetozar Tanasković, and Marko Miljković

education will directly lead to enhanced productivity and increased competitiveness. Another article tested this panel data analysis and came to the conclusion that a rise in the HDI led to increased competitiveness ( Talmaciu – Cismas 2016 ). 4.1 Choice of

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affected profitability negatively. There was a relatively strong positive relationship between market share and profitability. Based on the panel data estimation techniques, the Greek economists Asimakopoulos et al. (2009) identified the significance of

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methodologically the most similar to this study as they also use the Heckman sample selection model using panel data. 4 Data 4.1 Sample This study uses data from the Korea Longitude Study of Ageing (KLOSA). The data was collected by the Korea Employment Information

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-term effects in the future; therefore, the results presented by the panel OLS models are biased and inconsistent for the dynamic panel data. The core equation specification takes the following form: (2) Misinv it = α + β i Misinv i , t − 1 + γ i X it + δ i + η

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-Allocation Criteria with Panel Data . The Economic Journal , 104 ( 425 ): 876 - 882 . Wright , J. ( 2009 ): How Foreign Aid can Foster Democratisation in Authoritarian Regimes

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characteristics of urbanization driven by economic growth – Empirical evidence from provincial panel data . Inquiry Into Economic Issues , ( 5 ), 134 – 140 . Ye , A-jhong ( 2002

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