scholarly journals R&D Spillovers: A Non-Spatial and a Spatial Examination

2016 ◽  
Vol 36 (1) ◽  
Author(s):  
Daniela Gumprecht
Keyword(s):  
Spatial Analysis ◽  
Spatial Econometrics ◽  
Scientific Community ◽  
Spillover Effect ◽  
Spatial Models ◽  
Spillover Effects ◽  
New Model

In recent years there were many debates and different opinions whether R&D spillover effects exist or not. In 1995 Coe and Helpman published a study about this phenomenon, based on a panel dataset, that supports the position that such R&D spillover effects are existent. However, this survey was criticized and many different suggestions for improvement came from the scientific community. Some of them were selected and analysed and finally led to a new model. And even though this new model is well compatible with the data, it leads to different conclusions, namely that there doesnot exist an R&D spillover effect. These different results were the motivation to run a spatial analysis, which can be done by considering the countries as regions and using an adequate spatial link matrix. The used methods from the field of spatial econometrics are described briefly and quite general, and finally the results from the spatial models (the ones which correspond to the non-spatial ones) are compared with the results from the non-spatial analysis. The preferred model supports the position that R&D spillover effects exist.

scholarly journals W: SPATIAL WEIGHT MATRIX DIVERSITY AND ITS IMPACT ON SPATIAL ANALYSIS RESULTS

2019 ◽  
Vol 2 (1) ◽  
pp. 209-213
Author(s):  
Simona Mackova
Keyword(s):  
Spatial Analysis ◽  
Spatial Econometrics ◽  
Stochastic Matrix ◽  
Spatial Regression ◽  
Regional Analysis ◽  
Geographical Location ◽  
Spillover Effects ◽  
Weight Matrix ◽  
Spatial Weight Matrix ◽  
Spatial Weight

Spatial econometrics presents irreplaceable tool for regional analysis. Omitting additional information about geographical location of observed units could neglect some important influences. The spatial weight matrix W determining neighbourhood relations and degree of influence between observed units belongs to the main components of spatial analysis. Various specification approaches of this non-stochastic matrix could be applied. There is a commonly held belief that spatial regression models are sensitive to spatial weight structure. Some analytics consider it as a myth and points out incorrect interpretation of the model coefficients or misspecified models. Does it really matter what kind of specification is used? This contribution brings an empirical example of several approaches to neighbourhood specification and compares obtained results. According to findings of this analysis, especially spillover effects are incomparable. That confirms unequal performance of spatial structures. The W matrix should be built carefully at the beginning of each spatial analysis task.   

Effects of tourism development on economic growth: An empirical study of China based on both static and dynamic spatial Durbin models

2021 ◽  
pp. 135481662110211
Author(s):  
Honghong Liu ◽  
Ye Xiao ◽  
Bin Wang ◽  
Dianting Wu
Keyword(s):  
Economic Growth ◽  
Spillover Effect ◽  
Tourism Development ◽  
Spillover Effects ◽  
Policy Implications ◽  
Long Term Effects ◽  
Spatial Spillover ◽  
Domestic Tourism ◽  
Inbound Tourism ◽  
Spatial Spillover Effect

This study applies the dynamic spatial Durbin model (SDM) to explore the direct and spillover effects of tourism development on economic growth from the perspective of domestic and inbound tourism. The results are compared with those from the static SDM. The results support the tourism-led-economic-growth hypothesis in China. Specifically, domestic tourism and inbound tourism play a significant role in stimulating local economic growth. However, the spatial spillover effect is limited to domestic tourism, and the spatial spillover effect of inbound tourism is not significant. Furthermore, the long-term effects are much greater than the short-term impact for both domestic and inbound tourism. Plausible explanations of these results are provided and policy implications are drawn.

scholarly journals Regional Disparity and Patients Mobility: Benefits and Spillover Effects of the Spatial Network Structure of the Health Services in China

2021 ◽  
Vol 18 (3) ◽  
pp. 1096
Author(s):  
Liping Fu ◽  
Kaibo Xu ◽  
Feng Liu ◽  
Lu Liang ◽  
Zhengmin Wang
Keyword(s):  
Health Economic ◽  
Health Services ◽  
Network Structure ◽  
Spillover Effect ◽  
Spillover Effects ◽  
Health Economy ◽  
Spatial Network ◽  
Spatial Effects ◽  
Medical Resource ◽  
Medical Resources

Background: The distribution of medical resources in China is seriously imbalanced due to imbalanced economic development in the country; unbalanced distribution of medical resources makes patients try to seek better health services. Against this backdrop, this study aims to analyze the spatial network characteristics and spatial effects of China’s health economy, and then find evidence that affects patient mobility. Methods: Data for this study were drawn from the China Health Statistical Yearbooks and China Statistical Books. The gravitational value of China’s health spatial network was calculated to establish a network of gravitational relationships. The social network analysis method was used for centrality analysis and spillover effect analysis. Results: A gravity correlation matrix was constructed among provinces by calculating the gravitational value, indicating the spatial relationships of different provinces in the health economic network. Economically developed provinces, such as Shanghai and Jiangsu, are at the center of the health economic network (centrality degree = 93.333). These provinces also play a strong intermediary role in the network and have connections with other provinces. In the CONCOR analysis, 31 provinces are divided into four blocks. The spillover effect of the blocks indicates provinces with medical resource centers have beneficial effects, while provinces with insufficient resources have obvious spillover effects. Conclusion: There is a significant gap in the geographical distribution of medical resources, and the health economic spatial network structure needs to be improved. Most medical resources are concentrated in economically developed provinces, and these provinces’ positions in the health economic spatial network are becoming more centralized. By contrast, economically underdeveloped regions are at the edge of the network, causing patients to move to provinces with medical resource centers. There are health risks of the increasing pressure to seek medical treatment in developed provinces with abundant medical resources.

scholarly journals Spatial Spillover Effect and Influencing Factors of Information Flow in Urban Agglomerations—Case Study of China Based on Baidu Search Index

2021 ◽  
Vol 13 (14) ◽  
pp. 8032
Author(s):  
Chengzhuo Wu ◽  
Li Zhuo ◽  
Zhuo Chen ◽  
Haiyan Tao
Keyword(s):  
Influencing Factors ◽  
Information Flow ◽  
Spillover Effect ◽  
Spillover Effects ◽  
Urban Agglomeration ◽  
Coordinated Development ◽  
Spatial Spillover ◽  
Urban Agglomerations ◽  
Search Index ◽  
Spatial Spillover Effect

Cities in an urban agglomeration closely interact with each other through various flows. Information flow, as one of the important forms of urban interactions, is now increasingly indispensable with the fast development of informatics technology. Thanks to its timely, convenient, and spatially unconstrained transmission ability, information flow has obvious spillover effects, which may strengthen urban interaction and further promote urban coordinated development. Therefore, it is crucial to quantify the spatial spillover effect and influencing factors of information flows, especially at the urban agglomeration scale. However, the academic research on this topic is insufficient. We, therefore, developed a spatial interaction model of information flow (SIM-IF) based on the Baidu Search Index and used it to analyze the spillover effects and influencing factors of information flow in the three major urban agglomerations in China, namely Beijing–Tianjin–Hebei (BTH), the Yangtze River Delta (YRD), and the Pearl River Delta (PRD) in the period of 2014–2019. The results showed that the SIM-IF performed well in all three agglomerations. Quantitative analysis indicated that the BTH had the strongest spillover effect of information flow, followed by the YRD and the PRD. It was also found that the hierarchy of cities had the greatest impact on the spillover effects of information flow. This study may provide scientific basis for the information flow construction in urban agglomerations and benefit the coordinated development of cities.

scholarly journals Spatial Interaction Spillover Effects between Digital Financial Technology and Urban Ecological Efficiency in China: An Empirical Study Based on Spatial Simultaneous Equations

2021 ◽  
Vol 18 (16) ◽  
pp. 8535
Author(s):  
Yaya Su ◽  
Zhenghui Li ◽  
Cunyi Yang
Keyword(s):  
Economic Growth ◽  
Spatial Interaction ◽  
Spillover Effect ◽  
Spillover Effects ◽  
Simultaneous Equations ◽  
Ecological Efficiency ◽  
Core Component ◽  
Coordinated Development ◽  
Three Stage Least Squares ◽  
Financial Technology

As a core component of the digital economy, digital financial technology has a complex interactive and interdependent relationship with ecological efficiency. From the holistic spatial interaction perspective, this paper uses spatial simultaneous equations and generalized spatial three-stage least squares (GS3SLS) to analyze the spatial interaction spillovers between digital financial technology and urban ecological efficiency based on data from 284 Cities in China from 2008 to 2018. The results show that: (1) Digital financial technology and urban ecological efficiency promote each other, and the latter is relatively dominant. (2) Both digital financial technology and urban ecological efficiency have significant spatial spillover effects. (3) Digital financial technology in surrounding cities has a restraining effect on local ecological efficiency, and the improvement of ecological efficiency in surrounding cities has a siphon effect on local digital financial technology. (4) There is spatial and period heterogeneity in the intensity of the spatial interaction spillover effect between the two. With resources and environment increasingly becoming rigid constraints on economic growth, these findings help identify new drivers of regional ecological efficiency and promote the coordinated development of digital finance and green ecology.

scholarly journals The Effects from The U.S. and Japan to Emerging Stock Markets in Asia and Vietnam

2021 ◽  
Author(s):  
SDAG Lab
Keyword(s):  
Emerging Markets ◽  
Stock Prices ◽  
Stock Markets ◽  
Spillover Effect ◽  
Spillover Effects ◽  
The Philippines ◽  
Volatility Spillovers ◽  
Return Effect ◽  
Asian Emerging Markets ◽  
The U.S

The subprime mortgage crisis in the U.S. in mid-2008 suggests that stock prices volatility do spillover from one market to another after international stock markets downturn. The purpose of this paper is to examine the magnitude of return and volatility spillovers from developed markets (the U.S. and Japan) to eight emerging equity markets (India, China, Indonesia, Korea, Malaysia, the Philippines, Taiwan, Thailand) and Vietnam. Employing a mean and volatility spillover model that deals with the U.S. and Japan shocks and day effects as exogenous variables in ARMA(1,1), GARCH(1,1) for Asian emerging markets, the study finds some interesting findings. Firstly, the day effect is present on six out of nine studied markets, except for the Indian, Taiwanese and Philippine. Secondly, the results of return spillover confirm significant spillover effects across the markets with different magnitudes. Specifically, the U.S. exerts a stronger influence on the Malaysian, Philippine and Vietnamese market compared with Japan. In contrast, Japan has a higher spillover effect on the Chinese, Indian, Korea, and Thailand than the U.S. For the Indonesian market, the the return effect is equal. Finally, there is no evidence of a volatility effect of the U.S. and Japanese markets on the Asian emerging markets in this study.

Engagement valence duality and spillover effects in online brand communities

2017 ◽  
Vol 27 (4) ◽  
pp. 877-897 ◽  
Author(s):  
Jana Lay-Hwa Bowden ◽  
Jodie Conduit ◽  
Linda D. Hollebeek ◽  
Vilma Luoma-aho ◽  
Birgit Apenes Solem
Keyword(s):  
Comparative Method ◽  
Spillover Effect ◽  
Spillover Effects ◽  
Consumer Engagement ◽  
Content Type ◽  
Brand Communities ◽  
Brand Engagement ◽  
Online Brand Communities ◽  
Constant Comparative Method ◽  
Depth Interviews

Purpose Online brand communities (OBCs) are an effective avenue for brands to engage consumers. While engaging with the brand, consumers simultaneously interact with other OBC members; thus engaging with multiple, interrelated engagement objects concurrently. The purpose of this paper is to explore both positively and negatively valenced consumer engagement with multiple engagement objects, the interplay between these, and the spillover effect from consumers’ engagement with the OBC to their engagement with the brand. Design/methodology/approach Drawing on 16 in-depth interviews with OBC members of a luxury accessory brand, a constant comparative method was adopted using axial and selective coding procedures. The objective was to understand the nature of participants’ engagement with the brand, the OBC, and the interplay between individuals’ engagement with these objects. The coding framework and resultant interpretive frameworks address engagement valence, outcomes, and direction. Findings This study illustrates consumer expressions of consumers’ positively and negatively valenced engagement with a focal brand, and with the OBC. Further, it demonstrates the interplay (spillover effect) that occurs between consumers’ engagement with the OBC, to their engagement with the brand. While the existence of positively valenced engagement with the OBC was found to further enhance consumer brand engagement (i.e. reflecting an engagement accumulation effect), negatively valenced engagement with the OBC was found to reduce consumer brand engagement (i.e. reflecting an engagement detraction effect). Originality/value While consumer engagement has been recognized to have both positive and negative manifestations, this study demonstrates that consumers’ engagement valence may differ across interrelated engagement objects (i.e. the brand and the OBC). Further, we demonstrate the existence of engagement spillover effects from the OBC to the brand for both positively and negatively valenced engagement.

The Spillover Effect of the Syrian Crisis on the Peace Process in Turkey

2018 ◽  
Vol 53 (8) ◽  
pp. 1251-1270 ◽  
Author(s):  
Rahman Dag
Keyword(s):  
Spillover Effect ◽  
Peace Process ◽  
Spillover Effects ◽  
External Factors ◽  
The Political ◽  
Party Government ◽  
Syrian Crisis ◽  
History Of ◽  
Kurdish Question ◽  
Internal And External Factors

The Kurdish question has been one of the most protracted issues in the political history of Turkey. Given such a long securitization of the Kurdish question, it almost came to an end due to the peace process initiated by the AK Party government and the imprisoned leader of the PKK, Abdullah Öcalan in 2013. Apparently it was not a solid process because it failed immediately after the June 2015 general election. There may have been many internal and external factors explaining the reason why it failed but this paper looks specifically at one of them: the influence of the Syrian crisis on the peace process in Turkey in light of spillover effects and spreading insurgency theories.

Nexus between Southeast Asian stock markets, bitcoin and gold: spillover effect before and during the COVID-19 pandemic

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yosuke Kakinuma
Keyword(s):  
Southeast Asia ◽  
Stock Markets ◽  
Spillover Effect ◽  
Spillover Effects ◽  
Southeast Asian ◽  
Series Data ◽  
Financial Assets ◽  
Volatility Spillover ◽  
Content Type ◽  
Asset Classes

Purpose This study aims to provide empirical evidence on the return and volatility spillover effects between Southeast Asian stock markets, bitcoin and gold in the periods before and during the COVID-19 pandemic. The interdependence among different asset classes, the two leading stock markets in Southeast Asia (Singapore and Thailand), bitcoin and gold, is analyzed for diversification opportunities. Design/methodology/approach The vector autoregressive-Baba, Engle, Kraft, and Kroner-generalized autoregressive conditional heteroskedasticity model is used to capture the return and volatility spillover effects between different financial assets. The data cover the period from October 2013 to May 2021. The full period is divided into two sub-sample periods, the pre-pandemic period and the during-pandemic period, to examine whether the financial turbulence caused by COVID-19 affects the interconnectedness between the assets. Findings The stocks in Southeast Asia, bitcoin and gold become more interdependent during the pandemic. During turbulent times, the contagion effect is inevitable regardless of region and asset class. Furthermore, bitcoin does not provide protection for investors in Southeast Asia. The pricing mechanism and technology behind bitcoin are different from common stocks, yet the results indicate the co-movement of bitcoin and the Singaporean and Thai stocks during the crisis. Finally, risk-averse investors should ensure that gold constitutes a significant proportion of their portfolio, approximately 40%–55%. This strategy provides the most effective hedge against risk. Originality/value The mean return and volatility spillover is analyzed between bitcoin, gold and two preeminent stock markets in Southeast Asia. Most prior studies test the spillover effect between the same asset classes such as equities in different regions or different commodities, currencies and cryptocurrencies. Moreover, the time-series data are divided into two groups based on the structural break caused by the COVID-19 pandemic. The findings of this study offer practical implications for risk management and portfolio diversification. Diversification opportunities are becoming scarce as different financial assets witness increasing integration.

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