scholarly journals Tolerance, Cultural Diversity and Economic Growth: Evidence from Dynamic Panel Data Analysis

Economies ◽  
2021 ◽  
Vol 9 (1) ◽  
pp. 20
Author(s):  
Osama Alhendi ◽  
József Tóth ◽  
Péter Lengyel ◽  
Péter Balogh
Keyword(s):  
Panel Data ◽  
Cultural Diversity ◽  
English Language ◽  
Panel Data Analysis ◽  
Dynamic Panel Data ◽  
Policy Implications ◽  
Social Tolerance ◽  
Solow Model ◽  
Related Equation ◽  
The Impact

This study aims to examine the impact of social tolerance of cultural diversity, and the ability to speak widely spoken languages, on economic performance. Based on the literature, the evidence is still controversial and unclear. Therefore, the study used panel data relating to (99) non-English speaking economies during the time period between 2009 and 2017. Following the augmented Solow model approach, the related equation was expanded, in this study, to include (besides human capital) social tolerance, the English language (as a lingua franca) and the level of openness. The model was estimated using the two-step system GMM approach. The results show that social tolerance of diversity and English language competence have a positive, but insignificant impact on the economy. Regarding policy implications, government and decision-makers can avoid the costs deriving from cultural diversity by adopting democratic and effective institutions that aim to achieve cultural justice and recognition, which, in turn, enhance the level of tolerance, innovation and productivity in the economy. Moreover, to ease intercultural communication within heterogeneous communities, it is necessary to invest in enhancing the quality of second language education which is necessary to make society more tolerant and the country more open to the global economy.

scholarly journals Service Export Sensitivity to Internet Adoption: Evidence From Dynamic Panel Data Analysis

2020 ◽  
Vol 11 (6) ◽  
pp. 259
Author(s):  
Walid Chatti ◽  
Haitham Khoj
Keyword(s):  
Developing Countries ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Developed Countries ◽  
Dynamic Panel Data ◽  
Dynamic Panel ◽  
Internet Adoption ◽  
The Impact ◽  
Dynamic Panel Data Analysis ◽  
Service Export

This study aims to examine the causal linkages relating service exports to internet penetration for 116 countries over the period 2000-2017. Taking into account a wide panel of countries, we apply 2-Step GMM methodology for dynamic panel data models. The results show a bi-directional causality relating service exports to internet adoption for developed countries. For the global panel and developing countries, we find those same results attest a positive relationship between the internet adoption and service exports, but in the opposite way; the impact is very low and not significant. Regarding developing countries, despite the fact that internet positively affects service exports, it is considered less efficient than in developed countries.

scholarly journals Globalization, economic freedom, and wage inequality: A panel data analysis

2016 ◽  
Vol 63 (5) ◽  
pp. 581-601 ◽  
Author(s):  
Gülsün Yay ◽  
Hüseyin Taştan ◽  
Asuman Oktayer
Keyword(s):  
Panel Data ◽  
Wage Inequality ◽  
Economic Freedom ◽  
Panel Data Analysis ◽  
Oecd Countries ◽  
Dynamic Panel Data ◽  
Wage Distribution ◽  
Data Set ◽  
Economic Freedom Index ◽  
The Impact

This paper examines the impact of globalization and liberalization on wage inequality using the KOF globalization index, the Economic Freedom Index (EFI) of the Fraser Institute and the Theil industrial pay inequality statistic compiled by the University of Texas Inequality Project (UTIP). Both static and dynamic fixedeffects models are estimated using a 5-year panel data set consisting of about 90 developed and developing countries for the 1970-2005 period. Estimation results from the dynamic panel data specification suggest that wage inequality has a significant and slowly changing component. The overall KOF and EFI indexes are found to be statistically insignificant in the full sample, but the results show that economic freedom is associated with more wage inequality, especially in Organisation for Economic Co-operation and Development (OECD) countries. The estimation results from country groups indicate that more deregulation is associated with more earnings inequality in OECD countries. The results from the models with subcomponents of the EFI imply that access to sound money has a negative effect on wage inequality. A more stable price system in an economy implies a more equal wage distribution in emerging markets (EM), non-OECD countries, and European Union (EU).

scholarly journals A Comparative Study on the Impact of Telecommunication Investment on Economic Growth in EU Vis-à-vis Non-EU OECD Countries: A Dynamic Panel Data Analysis

2019 ◽  
pp. 1-16
Author(s):  
Hakan Oztunc ◽  
Erkan Demirbas ◽  
Mehmet Orhan
Keyword(s):  
Panel Data ◽  
Panel Data Analysis ◽  
Oecd Countries ◽  
Dynamic Panel Data ◽  
Dynamic Panel ◽  
Telecommunication Infrastructure ◽  
Computer Based ◽  
Development Levels ◽  
Economical Growth ◽  
The Impact

This study aims to comparatively investigate the effects of telecommunication infrastructure on the economical growth in OECD countries. For this purpose, OECD countries were divided into two groups i.e. European Union (EU) and non-EU OECD countries for the period of 1993-2013. Findings of dynamic panel data model showed that investment on the telecommunication infrastructure has more positive effect on EU OECD countries than non-EU OECD countries. Since telecom appears as the key sector to fuel growth because it is associated with information technology and all ramifications of computer based applications and mobile communication, all countries at all development levels are proposed to focus on investing in these sectors the opposite of which hinders growth.

scholarly journals IMPLICATIONS OF CAPITAL FLOWS FOR DOMESTIC CREDIT GROWTH: EVIDENCE FROM PANEL DATA ANALYSIS

2020 ◽  
Vol 8 (4) ◽  
pp. 231-245
Author(s):  
Aylin Soydan ◽  
◽  
Serap Bedir Kara ◽  
Keyword(s):  
Developing Countries ◽  
Data Analysis ◽  
Panel Data ◽  
Capital Flows ◽  
Panel Data Analysis ◽  
Capital Inflows ◽  
Policy Implications ◽  
Credit Growth ◽  
Credit Creation ◽  
The Impact

Following the 2007-2009 global crisis, high credit growth became an issue of concern with an emphasis on its relationship with capital flows. It is argued that large and volatile international capital flows lead to credit expansion, which in turn, may cause economic and financial instabilities when it reaches excessive levels, particularly in developing countries. This paper aims to investigate the association between credit growth and capital inflows in the context of developing countries by using panel data analysis. The methodology employed in the study offers a number advantages by allowing for heterogeneity and cross-sectional dependence in the panel, while also considering the endogeneity issue. The overall results of the study provides evidence for the impact of capital inflows, more particularly other capital inflows, on credit growth in the sample. This finding suggests a more direct relationship between capital inflows and credit creation as other inflows mostly comprise international banking and trade credits. It is not surprising given the fact that banking sector has a critical role in the financial systems of developing countries. The significance of international dimension for credit creation through other capital inflows and the intermediary role of the banking system should have monetary policy implications, in the macroprudential or more conventional fashion.

scholarly journals Primary commodity export and economic growth in sub sahara africa: evidence from panel data analysis

2011 ◽  
Vol 11 (4) ◽  
pp. 465-474 ◽  
Author(s):  
Matthew Ocran ◽  
Nicholas Biekpe
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Fixed Effects ◽  
Panel Data Analysis ◽  
Negative Relationship ◽  
Policy Implications ◽  
Sub Saharan Africa ◽  
Primary Commodity ◽  
Commodity Export ◽  
The Impact

The paper sought to examine the impact of instability in primary commodity export earnings and the level of commodity dependence on economic growth in Sub Saharan Africa (SSA).  Fixed effects panel data estimator was used in the empirical estimation. The findings of the study suggest that there is a negative relationship between instability in export earnings and economic growth. The results also indicate that the level of commodity dependence matter in determining economic growth in the region. The results of the paper have economic development policy implications for SSA economies and these are not farfetched. First, it appears the difficult growth experience of SSA is not solely due to instability in export receipts. The question of continued dependence on a narrow range of primary commodities is also matter of great importance.

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