Generalized method of moment estimation

2011 ◽  
pp. 119-131
Author(s):  
Andreas Ziegler
Keyword(s):  
Method Of Moment ◽  
Moment Estimation ◽  
Generalized Method Of Moment

Does crop specialization improve agricultural productivity and commercialization? Insight from the Northern Savannah Ecological Zone of Ghana

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Samuel Sekyi ◽  
Christopher Quaidoo ◽  
Emmanuel Agyapong Wiafe
Keyword(s):  
Agricultural Productivity ◽  
Farm Households ◽  
Parameter Estimates ◽  
Method Of Moment ◽  
Ecological Zone ◽  
Content Type ◽  
Moment Estimation ◽  
Market Opportunities ◽  
Feed The Future ◽  
Generalized Method Of Moment

PurposeThis paper aims to analyze the effects of crop specialization on agricultural productivity and commercialization for farmers who produce high-value crops in the Northern Savannah Ecological Zone of Ghana.Design/methodology/approachThe study used the USAID/Ghana Feed the Future (FTF) survey, which collected data on high-value crops (i.e. maize, rice and soya). Data for the analysis consists of 2,903 farm households. The study utilized the three-stage generalized method of moment estimation technique to deal with the potential endogeneity of crop specialization within the context of productivity and commercialization and heteroscedasticity issues in the data.FindingsThe study found that crop specialization positively relates to agricultural productivity and commercialization, suggesting that increased crop specialization in the production of high-value stimulates productivity and opens market opportunities for farm households. These findings imply that crop specialization seems more beneficial to farmers as it significantly improves productivity and commercialization.Research limitations/implicationsThe study was conducted in the Northern Savannah Ecological Zone of Ghana and not the entire country.Originality/valueTo the best of the authors' knowledge, this study is the first to have jointly modeled crop specialization, agricultural productivity and commercialization. The main advantage of using this system approach is that it uses more information, thereby providing more precise parameter estimates.

scholarly journals DEBT FINANCING AND IMPORTANCE OF FIXED ASSETS AND GOODWILL ASSETS AS COLLATERAL: DYNAMIC PANEL EVIDENCE

2014 ◽  
Vol 16 (2) ◽  
pp. 407-421 ◽  
Author(s):  
Bolaji Tunde Matemilola ◽  
Rubi Ahmad
Keyword(s):  
South African ◽  
Firm Value ◽  
Practical Implication ◽  
Method Of Moment ◽  
Debt Level ◽  
Moment Estimation ◽  
Long Run ◽  
Fixed Assets ◽  
The Difference ◽  
Generalized Method Of Moment

This article analyses the effect of fixed assets and goodwill assets on South African firms’ debt ratios. The difference and system generalized method of moment estimation results reveal that fixed assets and goodwill assets have significant and positive relationship with firms’ debt ratios. To secure long-term debt, fixed assets and goodwill assets are required as collateral by creditors. Our results show firms’ adjust to long-run optimal debt level, but at a slow adjustment rate. Our results suggest there are costs preventing South African firms from adjusting faster to their long-run optimal debt level. The practical implication of the paper is that policy makers should promote policies that encourage further development of the capital market. Moreover, firms need both fixed assets and goodwill assets as collateral to raise the desired optimal debt that maximizes firm value.

The impact of business cycle on capital buffer during the period of Basel-II and Basel-III: Evidence from the Pakistani banks

2018 ◽  
Vol 05 (04) ◽  
pp. 1850036 ◽  
Author(s):  
Khurram Iftikhar ◽  
Syed Faizan Iftikhar
Keyword(s):  
Business Cycle ◽  
Commercial Banks ◽  
Basel Ii ◽  
Basel Iii ◽  
Estimation Technique ◽  
Sample Period ◽  
Method Of Moment ◽  
Moment Estimation ◽  
Generalized Method Of Moment ◽  
The Impact

The main objective of this study is to examine the behavior of capital buffer (whether procyclicality or countercyclical) for Pakistani banks after implementation of the BASEL-II and BASEL-III accord. The sample in this study consists of 34 commercial banks of Pakistan during the period from 2006 to 2015. The impact of business cycle on Capital Buffer has been obtained by using the two-step system Generalized Method of Moment estimation technique. The empirical findings suggest that the behavior of the banks found to be procyclicality in whole sample period while it turns to be counter-cyclical after implementation of Basel-III accord.

scholarly journals Dampak Belanja Pemerintah Terhadap Konversi Hutan ke Pertanian di Indonesia

2018 ◽  
Vol 14 (3) ◽  
pp. 213-227
Author(s):  
Widyaningsih Ratna Puspitasari
Keyword(s):  
Land Use ◽  
Panel Data ◽  
Government Spending ◽  
Positive Impact ◽  
Public Spending ◽  
Method Of Moment ◽  
Land Use Conversion ◽  
Moment Estimation ◽  
The Government ◽  
Generalized Method Of Moment

This study analyzes the impacts of government spending on land use conversion from forest to agriculture based on national budget allocation in Indonesia. As agriculture expansion and the government spending on agriculture increase especially during this more than ten-year period, it is suspected that the conversion of land from forest to agriculture gradually increases. Therefore, the increase of government spending on agriculture may be one of the contributing factors to deforestation. Balanced panel data from 33 provinces in Indonesia that covers a ten-year period between 2006 and 2015 was used to examines the indirect effects of government spending on agriculture, total government spending over GRDP, and public spending on land use conversion. The generalized method of moment estimation (GMM) technique was applied in this research to investigate relationship between government spending and deforestation. The result showed that there is an indirect impact from increasing government spending: there is an increase in the total amount of land use conversion from forest to agriculture in Indonesia. This study depicts that an increase in government spending on agriculture and total government spending over GRDP have a significant positive impact on deforestation. Meanwhile, public spending has no significant effect on deforestation. Keywords: Deforestation, GMM, government spending Abstrak Penelitian ini bertujuan untuk menganalisa dampak belanja pemerintah terhadap deforestasi, berdasarkan anggaran nasional belanja pemerintah di Indonesia. Meningkatnya perluasan lahan pertanian yang diikuti dengan peningkatan belanja pemerintah untuk sektor pertanian dalam kurun waktu lebih dari 10 tahun terakhir ini memungkinkan terjadinya peningkatan konversi lahan. Peningkatan belanja pemerintah yang ditujukan untuk sektor pertanian dapat menjadi salah satu faktor pemicu deforestasi. Menggunakan panel data dari 33 provinsi di Indonesia selama 10 tahun, dari tahun 2006 s.d 2015, penelitian ini mengkaji dampak tidak langsung dari belanja pemerintah di bidang pertanian, total belanja pemerintah per PDRB, dan belanja pemerintah di public sector terhadap deforestasi. Menggunakan system generalized method of moment estimation (GMM), penelitian ini menganalisa hubungan antara belanja pemerntah dan deforestasi. Hasil empirik menunjukkan bahwa terdapat dampak tidak langsung dari peningkatan belanja pemerintah: adanya peningkatan konversi lahan dari hutan untuk pertanian. Penelitian ini juga menunjukkan bahwa peningkatan belanja pemerintah di bidang pertanian dan total belanja pemerintah per PDRB memiliki dampak siknifikan terhadap deforestasi. Sedangkan belanja pemerintah untuk sector public tidak memiliki dampak untuk meningkatkan deforestasi.  Kata kunci : Deforestasi, GMM, belanja pemerintah

Credit Market Depth and Income Inequality in Vietnam: A Panel-Data Analysis

2016 ◽  
pp. 5-18
Author(s):  
Hoi Le Quoc ◽  
Hoi Chu Minh
Keyword(s):  
Data Analysis ◽  
Panel Data ◽  
Income Inequality ◽  
Financial Development ◽  
Inflection Point ◽  
Panel Data Analysis ◽  
Credit Market ◽  
Method Of Moment ◽  
Market Depth ◽  
Generalized Method Of Moment

Financial development could exert various effects on income distribution of a country. By employing Generalized Method of Moment, this paper aims at examining the impacts of credit market depth, one of most used financial development barometers, on income inequality in Vietnam. The empirical findings show that expanding credit market in the country could lead to higher income inequality. We have not found evidence that supports the hypothesis of an inverted U-shaped relation ever introduced by Greenwood and Jovanovich, although this hypothesis may still hold in a sense that Vietnam has not reached to the inflection point to generate such a curve alike.

scholarly journals Movement of Inflation and New Keynesian Phillips Curve in ASEAN

Economies ◽  
2021 ◽  
Vol 9 (1) ◽  
pp. 34
Author(s):  
Adhitya Wardhono ◽  
M. Abd. Nasir ◽  
Ciplis Gema Qori’ah ◽  
Yulia Indrawati
Keyword(s):  
Inflation Rate ◽  
Phillips Curve ◽  
New Keynesian ◽  
Inflation Expectations ◽  
New Keynesian Phillips Curve ◽  
Method Of Moment ◽  
Inflation Model ◽  
Wage Inflation ◽  
Generalized Method Of Moment ◽  
Forward Looking

The development of the theory of dynamic inflation begins by linking wage inflation and unemployment. In further developments, factor of expectation is classified into inflation model. The study used inflation data is important for ASEAN, because ASEAN is one of the strengths of the international economy. This study analyzes the dynamics of inflation in the ASEAN using framework the New-Keynesian Phillips Curve (NKPC) model. The data used is the quarterly panel data from 5 ASEAN members in the period 2005.QI–2018.QIV. The study of this dynamic inflation applies quarter to quarter inflation data, meaning that the inflation rate is the percentage change in the general price of the current quarter compared to last quarter general price divided by the last quarter. The empirical results are estimated by using the Generalized Method of Moment (GMM), both of the system and first different indicates that the pattern formation of inflation expectations are backward-looking and forward-looking. In addition, the estimated NKPC models show the backward-looking behavior is more dominant than the forward looking. Changes in inflation are not entirely influenced by expectations of inflation in each country. Changes in inflation are also influenced by the output gap, changes in money supply, and exchange rate. Based on the findings of this study, it can be concluded that the NKPC models can explain the dynamics of inflation in each country in the ASEAN region.

scholarly journals Do Economic Reforms Spur Bancarisation Rate in the CEMAC Region? Empirical Analysis

2016 ◽  
Vol 8 (4) ◽  
pp. 123
Author(s):  
Gérard Tchouassi
Keyword(s):  
Rural Areas ◽  
Central Africa ◽  
Economic Reforms ◽  
Method Of Moment ◽  
Institutional Reforms ◽  
Modeling Framework ◽  
Public And Private ◽  
Financial Reforms ◽  
Bank Accounts ◽  
Generalized Method Of Moment

<p>The aim of this paper is to empirically analyze the effect of the economic reforms on the bancarisation rate in the Central Africa Economic and Monetary Community (CEMAC). Data of six countries from the sub-region from 2001 to 2011 was used in a generalized method of moment (GMM) modeling framework. The following results are obtained: Financial liberalization has facilitated the opening of bank accounts. The opening of bank accounts demand is an increasing function of Gross Domestic Product per capita. The literacy rate contributes to the improvement of financial and banking services. Public and private infrastructures promote decentralization and delocalization of the banking network to smaller cities and rural areas. Institutional reforms work best for increasing the bancarisation rate where financial and banking activities are weak. So, the economic policy to be implemented is to continue the economic and financial reforms and ameliorate the quality of the institutions in the CEMAC region.</p>

Sign in / Sign up

Export Citation Format

Share Document