Civil liberty and economic growth in the world: a long-run perspective, 1850–2010

2014 ◽  
Vol 10 (3) ◽  
pp. 427-449 ◽  
Author(s):  
JAVIER ALFONSO-GIL ◽  
MARICRUZ LACALLE-CALDERÓN ◽  
ROCÍO SÁNCHEZ-MANGAS
Keyword(s):  
Economic Growth ◽  
Data Model ◽  
Civil Liberty ◽  
Civil Liberties ◽  
Dynamic Panel Data ◽  
Dynamic Panel ◽  
Long Run ◽  
Sensitivity Tests ◽  
Economic Growth Rates ◽  
The Relationship

Abstract:The objective of this paper is to study the relationship between economic growth and civil liberty across the globe in the long run. To fulfill this aim, we use an unbalanced panel of 149 countries for the period 1850–2010 with data on gross domestic product (GDP) from Maddison, and data on civil liberties from Polity IV. The dynamics of both variables are investigated. Once country and time effects are accounted for in a dynamic panel data model, our results show that movements toward higher levels of civil liberty are associated with higher economic growth rates. Therefore, we find that civil liberties are a relevant factor to explain economic growth. We perform some sensitivity tests that confirm the robustness of our results.

scholarly journals An econometric study of the role of the political stability on the relationship between democracy and economic growth

2020 ◽  
Vol 67 (2) ◽  
pp. 187-206
Author(s):  
Nedra Baklouti ◽  
Younes Boujelbene
Keyword(s):  
Economic Growth ◽  
Data Model ◽  
Generalized Method Of Moments ◽  
Political Stability ◽  
Dynamic Panel Data ◽  
The Political ◽  
Dynamic Panel ◽  
Mena Countries ◽  
The Relationship

This article examines the nexus between democracy and economic growth while taking into account the role of political stability, using dynamic panel data model estimated by means of the Generalized Method of Moments (GMM) over the period 1998 to 2011 for 17 Middle East and North Africa (MENA) countries. Our empirical results showed that there is a bidirectional causal relationship between democracy and economic growth. Moreover, it was found that the effect of democracy on economic growth depends on the political stability. The results also indicated that there is important complementarity between political stability and democracy. In fact, political stability is a key determinant variable of economic growth. Eventually, democracy and political stability, taken together, have a positive and statistically significant effect on economic growth. This finding suggests that, if accompanied by a stable political system, democracy can contribute to the economic growth of countries. Thus, the MENA governments should use policies to promote political stability in the region.

scholarly journals Currency Crises and Growth

2018 ◽  
Vol 10 (3) ◽  
pp. 83
Author(s):  
Arafat Hamida
Keyword(s):  
Economic Growth ◽  
Data Model ◽  
Currency Crises ◽  
Dynamic Panel Data ◽  
Impulse Response Functions ◽  
Response Functions ◽  
Short Term ◽  
Dynamic Panel ◽  
Dynamic Panel Data Model ◽  
Negative Effect

The purpose of this research is to study the effect of currency crises on economic growth. To do this, we opted for a dynamic panel data model and impulse response functions for a sample of seventeen emerging countries over a period from 1980 to 2014. The main results of the various empirical investigations show that there is a Negative effect of currency crises on short-term economic growth.

scholarly journals Econometric Analysis of the Relationship Between Innovation and Foreign Trade Distance in Central and Eastern Europe Countries

2020 ◽  
Vol 20 (1) ◽  
pp. 360-372
Author(s):  
Marcin Salamaga
Keyword(s):  
Data Model ◽  
Central And Eastern Europe ◽  
Dynamic Panel Data ◽  
Dynamic Panel ◽  
Technological Gap ◽  
Export Competitiveness ◽  
The Impact ◽  
The Relationship ◽  
Technology Industries ◽  
High Technology Industries

AbstractResearch background: Posner’s technology gap theories and Vernon’s product life cycle assume that differences in innovation and technology levels are the cause of foreign trade. These theories are subject to empirical verification. To date, however, the analysis of the impact of innovation distance on a country’s export competitiveness is omitted. This article tries to fill this research gap. The author attempts to examine the relationship between the innovation gap and export competitiveness in industries with varying levels of technological advancement.Purpose: The aim of the article is to research the direction and strength of the impact of the innovation gap on export competitiveness in 10 different industries in Central and Eastern Europe countries (CEECs).Research methodology: Dynamic panel models were used in the research, which describe the impact of the technological gap on the export competitiveness of countries. To measure innovation, the indicator of innovative comparative advantage was constructed and based on the number of patents used. The technological gap in individual countries was calculated as the Euclidean distance indicators of the innovative advantage in a given country from other countries.Results: In light of the presented results of the study, it can be concluded that innovation generally has a significant and positive impact on the competitiveness of exports in the high and medium-high technology industries of the CEECs, while it does not significantly affect the competitiveness of trade in low technology industries. In addition, the Visegrad countries in the high and medium-high technology industries generally have a low technological gap and a smaller distance in export competitiveness using the dynamic panel data model.Novelty: The added value of this article is an innovative study on the impact of the technological gap on export competitiveness with the example of the CEECs using the dynamic panel data model.

scholarly journals Connotation among Structure, Conduct, and Performance: A Panel Data Analysis of Selected Financial Firms in Pakistan

2017 ◽  
pp. 78-101
Author(s):  
Muhammad Jamil Et al.,
Keyword(s):  
Panel Data ◽  
Data Model ◽  
Panel Data Analysis ◽  
Positive Association ◽  
Dynamic Panel Data ◽  
Panel Data Models ◽  
Dynamic Panel ◽  
Financial Firms ◽  
And Performance ◽  
The Relationship

The study of Structure, Conduct, and Performance (SCP) paradigm is important to evaluate the performance of firms. The study scrutinizes the relationship among SCP paradigm of selected financial firms (Banks, Insurance, Modaraba and Exchange companies) in Pakistan. Panel data of 103 financial firms of Pakistan from 2007 to 2015 is employed for this purpose. Various models of panel data have been employed to find the more parsimonious one. It is concluded that there is positive association among SCP using panel data models and dynamic panel data model. It is recommended that all firms are needed to enhance their management regarding expenditures and they also need to increase the number of shareholders to boost the firm’s performance

scholarly journals Relationship between Energy Consumption and Economic Growth in European Countries: Evidence from Dynamic Panel Data Analysis

Energies ◽  
2021 ◽  
Vol 14 (12) ◽  
pp. 3565
Author(s):  
Łukasz Topolewski
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Dynamic Panel Data ◽  
European Countries ◽  
Short Term ◽  
Dynamic Panel ◽  
Panel Models ◽  
Dynamic Panel Models ◽  
The Relationship

The aim of the article is to empirically verify the relationship between energy consumption and economic growth. The time scope of this study covers the period of 2008–2019. The scope of analyzed subjects covers 34 European countries, 27 of which are currently members of the European Union. European countries consume large amounts of energy, so it is worth investigating the effect of reducing energy consumption on the process of economic growth. For this purpose, dynamic panel models were used. The research methods included the use of dynamic panel models, taking into account the Arellano and Bond and Blundell and Bond estimators. The results made it possible to identify the relationship between energy consumption and economic growth. It was found that, in the short term, increases in production will result in a statistically significant increase in energy consumption. Importantly, in the long term, this impact is also statistically significant and positive. On the other hand, taking into account the second of the estimated models, it can be concluded that, in the short term, increases in energy consumption do not cause changes in the rate of economic growth. The verification of this relationship in the long term also does not confirm it. In summary, it can be stated that a one-way relationship (in the short and in the long term), directed from economic growth towards energy consumption, was identified.

An Application of GMM Method in the Test of Relationship between Urbanization and Circulation Economic Growth

2013 ◽  
Vol 712-715 ◽  
pp. 3207-3210
Author(s):  
Yue Xi Liu ◽  
Zhen Bo Zhang
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Data Model ◽  
Dynamic Panel Data ◽  
Labor Input ◽  
Dynamic Panel ◽  
Dynamic Panel Data Model ◽  
Impact Of Urbanization ◽  
The Impact ◽  
Positive Effect

To explore the impact of urbanization and economic growth on the development of circulation industry, this paper uses GMM method to estimate dynamic panel data model, based on panel data at provincial-level from 2001 to 2010 in China, after testing the endogeneity of urbanization and economic growth. The findings indicate that regional economic development, labor input and fixed investment has significant positive effect on output of circulation, while lagged output of circulation and level of urbanization has no significant effect on it.

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