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Technical efficiency in agriculture of 10 new EU member states is analysed by Data Envelopment Analysis and econometric panel data analysis. Technical efficiency in agriculture is significantly positively associated with agricultural factor endowments, average farm size, farm specialisation, small-scale farms, and technological change. Foreign direct investments have an ambiguous effect. Reform and institutional developments, large-scale privatisation and price liberalisation, and urban- rural income gap are associated with technical efficiency in agriculture positively. An increase in technical efficiency in agriculture and the development of the rural economy are seen as a strategy to boost the level of living standards in agriculture and in rural areas.

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This paper tests new implications of the asymmetric tax competition model on diesel excise taxes. We extend the standard tax competition model by replacing the unit demand assumption with iso-elastic demand. As a result, not only the level of the equilibrium tax, but also the slope of the tax reaction function depends positively on the size of the country. The new implication is tested on panel data in first differences for 16 countries of Western Europe. The results provide strong evidence for strategic interaction in the setting of diesel excises and confirm the effect of country size on the response to tax changes in neighbouring countries. Strategic interaction between EU countries intensified in the mid-1990s and drove small European countries to set lower diesel tax rates. These results explain why the EU’s minimum tax policy has failed to harmonise diesel tax rates.

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This research paper aims to provide an empirical validation of the impact of human capital accumulation and labour market institutions on productivity growth. The primary objective of this study is to analyse economic and employment growth tendencies in the period between 1985 and 2007 in various OECD member countries. In our estimations we followed a specific taxonomy to identify the features of output per capita growth in different labour-skilled branches. Besides determining the sectoral differences of labour demand by standard comparative statistics, we used a dynamic panel regression method to investigate the relationships between employment, human capital, labour institutions, and output per capita. We conclude that the high-skilled branches have achieved better economic growth performance than the lower-skilled ones in most of the OECD countries. Analysing the time series panel data of these countries our results also yield valid relationships between the level of education, labour unions and productivity growth in different branches.

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Our aim is to explain why the post-communist countries were inclined to implement proportional income taxation schemes, given the broad variety of personal tax regimes and rates applied in the rest of the world. To resolve this problem a new type of social welfare function, allowing for variable (including negative) marginal utility of income, is introduced. This new approach improves our ability to comprehend the communist and post-communist social policy attitudes from a comparative standpoint. To verify our assertions, a probit regression model is applied. The empirical investigation is based on panel data including 42 countries from Europe and Central Asia for the period of 2000–2015. The primary inference is that the decisions to implement flat tax can be explained by the law of diminishing marginal utility of income and some additional policy-related factors. As it concerns the future, a successful catching-up strategy by the post-communist countries creates conditions for gradual abandonment of the flat tax practices.

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Logistics industry, being the modern industry integrating information, forwarding, warehousing, and transportation, plays an important role in optimizing the industrial structure in regional economic development. There have been many experts and scholars interpreting the relationship between the level of regional economy and logistics industry from the aspect of econometric model. Referring to existing research results, Panel Vector Autoregressive Model and Factor Analysis are applied to study panel data of 5 coastal provinces in past 20 years and construct relevant indicators reflecting logistic competitiveness, the level of regional economy, and degree of openness in order to explore the linkage effect between logistic competitiveness and the level of regional economy. The results suggest that the 5 coastal provinces can merely achieve the long-term and steady development of regional economy by moving towards the linkage development between logistic industry and manufacturing industry.

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Panel Data: Monte Carlo Evidence and an Application to Employment Equations. Review Economics Studies , 58: 277–297. Bond S. Some Tests of Specification for Panel Data: Monte

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. CPB Working Paper , 1–103. Ederveen, S. — Groot, H. de — Nahuis, R. (2006): Fertile soil for structural funds? A panel data analysis of the conditional effectiveness of European Cohesion Policy. KYLOS , 59

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. Breitung , J. ( 2000 ): T he Local Power of Some Unit Root Tests for Panel Data . In: Baltagi , D. (ed.): Nonstationary Panels, Panel Cointegration, and Dynamic Panels, Advances in Econometrics . Elsevier Science Inc., pp. 161 – 178

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The paper tests the hypothesis on whether refined economic value added (REVA) is highly associated with stock return compared to traditional performance measures. The goal of the study is to provide empirical evidence on the relative and incremental information content of REVA and traditional performance measures, such as net income (NI), net operational profit after tax (NOPAT), and earning per share (EPS). The study involves 395 non-financial companies listed in Bursa Malaysia over the period of 2002–2011. Pearson correlation coefficient and panel data single and multiple regression models were employed to analyze the data. The empirical results indicate that the relative information content of the REVA was not greater than that of NI and NOPAT to explain stock returns. NI and NOPAT were highly correlated with stock return compared to REVA. Additionally, the incremental information content test indicated that REVA makes some additional contribution to information content beyond the NI, NOPAT, and EPS. Finally, the panel multiple regression models showed that there was a strong relationship between NI, NOPAT, and REVA with stock return, but there was no meaningful association between EPS and stock returns. Overall, the results do not support the hypothesis that REVA can be considered superior to traditional accounting measures in association with stock returns.

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The aim of the paper is to estimate cost efficiency and its determinants of the Czech and Slovak commercial banks within the period of 2005–2015. In this paper two-stage Data Envelopment Analysis (DEA) is used. In the first stage, I estimate the relative cost efficiency applying the input-oriented model with variable return to scale and find that the Czech banks were more cost efficient than the Slovak banks. The main reason of cost inefficiency is the excess of clients' deposits in the banks' balance sheet. In the second stage, I use the panel data analysis and estimate the determinants of cost efficiency in the two countries. I choose 8 bank-specific and macroeconomic factors that influence cost efficiency. The results show that the larger banks with higher liquidity risk and with a lower value of the net interest margin were more efficient. It confirms the reason of inefficiency determined from the DEA model. Banks were highly cost efficient during the economic expansion with a lower value of the inflation rate.

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