scholarly journals Explaining Tourism Inflows in Greece: A Macroeconometric Approach

2016 ◽  
Vol 8 (4) ◽  
pp. 192 ◽  
Author(s):  
George Agiomirgianakis ◽  
George Sfakianakis
Keyword(s):  
Cross Sections ◽  
Model Fit ◽  
Relative Price ◽  
Explanatory Variables ◽  
Panel Data Estimation ◽  
Panel Data Estimation Techniques ◽  
Macroeconomic Indicators ◽  
Greek Economy ◽  
Disaggregated Data ◽  
Data Estimation

This paper investigates the determinants of tourism inflows to Greece. The significance of the specific sector for the Greek economy varies from 15% to 20% of GDP (measured directly or indirectly respectively). Building on the existing literature, panel data estimation techniques are used, with explanatory variables including selected macroeconomic indicators and (relative) price indices. The main innovation of the paper is that, regarding the cross section dimension of the sample, disaggregated data based on the country (or area) of origin are used, combined with the corresponding macroeconomic aggregates. The time-span of the data is the 2004-2010 period, with the specific econometric techniques used taking into account both the statistical properties of variables and the differences between the various cross sections. The main conclusion of the paper is that the macroeconometric approach to explaining tourist arrivals provides a very satisfactory model fit, with explanatory variables explaining a significant part of the variability of the dependent variable.

Infrastructure and Tourism Development

2017 ◽  
pp. 224-237
Author(s):  
Sourav Kumar Das ◽  
Tonmoy Chatterjee
Keyword(s):  
Tourism Development ◽  
Economic Reforms ◽  
Infrastructure Development ◽  
Indian States ◽  
Resource Potential ◽  
Panel Data Estimation ◽  
Panel Data Estimation Techniques ◽  
The Common ◽  
Data Estimation ◽  
Budgetary Allocation

Infrastructure is not the engine but the wheels of economic development. Since the onset of economic crisis, followed by economic reforms, the importance of infrastructure development has been emphasised through policy, pronouncements, higher budgetary allocation of funds, formation of Infrastructure development, etc. It opens out a region by providing an access to its tourist places. In its absence, the resource potential for tourism can't be of any benefit. In addition to the common infrastructure tourism development requires special infrastructures, which is growing importance to India and foreign tourists in recent years. This chapter tries to investigate the significance of infrastructure as a factor in tourism development by applying panel data estimation techniques upon 27 Indian States for the period 2005-2015 and finds that the infrastructure has been contributing positively to tourist arrivals, particularly from India and abroad. Apart from this we have also shown that tourist arrivals from host along with infrastructure expenditure will affect Indian tourism in a positive manner.

scholarly journals THE CONVERGENCE TEST OF INDONESIA BANKING INEFFICIENCY: DO MACROECONOMIC INDICATORS MATTER?

2018 ◽  
Vol 21 (1) ◽  
pp. 123-137
Author(s):  
Rudi Purwono ◽  
Mohammad Zeqi Yasin
Keyword(s):  
Panel Data ◽  
Financial Crisis ◽  
Gross Domestic Product ◽  
Global Financial Crisis ◽  
Fiscal Stimulus ◽  
Panel Data Estimation ◽  
Convergence Test ◽  
Macroeconomic Indicators ◽  
The Global Financial Crisis ◽  
Data Estimation

This paper analyzes the inefficiency convergence of Indonesian banks using StochasticFrontier Analysis and panel data estimation, covering the period after financial crisis2008 until 2017. This paper also investigates the determinant of this inefficiencyimplying the convergence. To estimate the inefficiency rate, proxied by price ofloan, this paper uses three inputs including price of labor, price capital, and price offund. Our analysis shows that during 2008-2017 the inefficiency score converged ata speed of 26.2 %. Furthermore inflation, gross domestic product, and exchange ratesignificantly affect the growth of inefficiency convergence. This paper contributes tothe empirical literatures particularly on banking research. Overall, the findings implythat policymakers can mitigate the effects of the global financial crisis by loweringinterest rate, providing fiscal stimulus, as well as protecting the poorest from financialdeterioration.

An Empirical Analysis of Differences in GDP per Capita and the Role of Human Capital

2010 ◽  
Vol 24 (2) ◽  
pp. 101-107
Author(s):  
George Sfakianakis ◽  
Anastasios I. Magoutas ◽  
Demosthenes Georgopoulos
Keyword(s):  
Capital Accumulation ◽  
Physical Capital ◽  
The Public ◽  
Panel Data Estimation ◽  
Production Function Approach ◽  
Panel Data Estimation Techniques ◽  
Specific Factors ◽  
Per Capita ◽  
Data Estimation

Using a generalized production function approach and insights from empirical research on the determinants of growth, this paper assesses the relative importance of specific factors in explaining differences in the levels of per capita GDP. Emphasis is placed on education, physical capital accumulation, the share of the public sector in economic activity and the outward orientation of economies. Education, among other things, is connected with the ability of countries to take advantage of technology transfer channels. Panel data estimation techniques are used to obtain empirical results for the EU-15 countries, and economic policy recommendations are evaluated accordingly.

scholarly journals Bank stability in South Africa: what matters?

2019 ◽  
Vol 14 (1) ◽  
pp. 122-136
Author(s):  
Syden Mishi ◽  
Sibanisezwe Alwyn Khumalo
Keyword(s):  
South African ◽  
Business Models ◽  
Banking Sector ◽  
Financial Sector ◽  
The South ◽  
Bank Stability ◽  
Panel Data Estimation ◽  
Panel Data Estimation Techniques ◽  
Lending Activity ◽  
Data Estimation

The study examined the determinants of bank stability within the South African banking sector. By controlling for individual bank characteristics and market characteristics, the study determined possible determinants of solvency, a proxy for bank stability, measured by z-score within the South African financial sector. The South African financial sector is highly concentrated but with a significantly large number of banks, the greater portion being foreign owned banks. The business models of some of the financial intermediaries differ from the big four and therefore the influence of the type of business model is of great interest in this study, as it highlights a unique feature of the South African financial sector. The study’s investigation used panel data estimation techniques and found that among the specific bank characteristics, lending activity and capitalization do significantly affect solvency of banks and at sector level concentration was significant. The crisis dummy also revealed that the presence of a financial crisis heightened insolvency. The results have implications for financial institutions and therefore are of interest to regulators, bank management and researchers. Policy prescription in the form of Prompt Corrective Action framework is made to ensure proactive reaction to trends likely to cause instability.

scholarly journals Performance of government linked companies and private owned companies in Malaysia

2016 ◽  
Vol 58 (2) ◽  
pp. 150-161 ◽  
Author(s):  
Padmanabha Ramachandra Bhatt
Keyword(s):  
High Performance ◽  
National Development ◽  
Performance Level ◽  
Private Companies ◽  
Content Type ◽  
Panel Data Estimation ◽  
Panel Data Estimation Techniques ◽  
Significant Difference ◽  
Data Estimation ◽  
Malaysian Government

Purpose – The purpose of this study was to find whether there was any significant difference in performance between government-linked companies (GLCs) and private-owned companies (POCs) and there was any significant improvement in performance of GLCs after Malaysian Government ' s initiatives to transform the GLCs to high-performance companies. Design/methodology/approach – Panel data estimation techniques were used to run the regression in this study. Findings – It was found that there was no significant difference in performance level between GLCs and POCs. It was also found that the performance level of GLCs had improved significantly after the initiation of GLCs ' transformation programme by the Malaysian Government. Originality/value – The implication of the results of this study is that state-owned enterprises in developing countries like Malaysia can be relevant and important to take care of social responsibilities and needs, as also they can perform at par with private companies. There is no need for privatization of government-owned enterprises; rather, it needs corporatization. Government-owned enterprises can play an important role to drive national development.

scholarly journals County-Level Impacts of Rail Line Abandonments: A Kansas Case Study

2010 ◽  
Author(s):  
James Sanderson ◽  
Michael W. Babcock
Keyword(s):  
Panel Data ◽  
Initial Period ◽  
Time Lag ◽  
County Level ◽  
Panel Data Estimation ◽  
Panel Data Estimation Techniques ◽  
Rail Line ◽  
On Line ◽  
Data Estimation

This article describes the use of econometric panel data techniques to estimate the effects of rail line abandonments at the county level. The article presents the economic theory that indicates how abandonments will affect local communities. Data were collected on line abandonments and several economic measures for counties in Kansas. Panel data estimation techniques were used to provide estimates of the effects for rural, urban and metropolitan counties. Results indicate that abandonments produce an initial period of economic growth that may be temporary for some counties. Results also indicate that any adverse impacts appear with a time lag of a few years.

scholarly journals ДЕТЕРМИНАНТЕ ПРОФИТАБИЛНОСТИ МАЛИХ И СРЕДЊИХ ПРЕДУЗЕЋА У СЕКТОРУ ТРГОВИНЕ У СРБИЈИ

TEME ◽  
2018 ◽  
pp. 097
Author(s):  
Kristina Mijić ◽  
Daniela Nuševa ◽  
Dejan Jakšić
Keyword(s):  
Financial Statement ◽  
Retail Sector ◽  
Sales Growth ◽  
Return On Assets ◽  
Panel Data Estimation ◽  
Panel Data Estimation Techniques ◽  
Firm Profitability ◽  
The Republic ◽  
Two Phases ◽  
Data Estimation

The purpose of this paper is to investigate the determinants of profitability for small and medium-sized enterprises (SMEs) in the wholesale and retail sector in the Republic of Serbia. The wholesale and retail sector is a very important sector for Serbian economy, and also one of the most profitable sectors. The research of determinants of profitability includes two phases. First, the differences between the profitability of SMEs and large enterprises were conducted using the Student t-test. Second, the panel data estimation techniques were used to detect determinants of firm profitability. The profitability measure is based on the return on assets, and the determinants of profitability were defined as follows: size, leverage, liquidity, tangibility, investment, sales growth and lagged profitability. The data was collected from the financial statement of enterprises. For this purpose, 9,005 observations of 1,801 SMEs and 1,605 observations of 321 large trade companies over the period of 2010-2014 were included. The results indicate that SMEs achieve statistically significant better profitability than large wholesale and retail companies. The findings indicate that leverage, liquidity, sales growth and lagged profitability positively influence the profitability of SMEs. Furthermore, the results show an inverse relationship between the size and tangibility on  one side and profitability on the other side.   

Corporate governance in Malaysia: has MCCG made a difference

2016 ◽  
Vol 58 (4) ◽  
pp. 403-415 ◽  
Author(s):  
Padmanabha Ramachandra Bhatt
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Design Methodology ◽  
Listed Companies ◽  
Private Companies ◽  
Content Type ◽  
Panel Data Estimation ◽  
Panel Data Estimation Techniques ◽  
Data Estimation ◽  
Selection Of

Purpose The purpose of this paper is to study the effect of Malaysian Code on Corporate Governance (MCCG) on the performance of the listed companies in Malaysia. Design/methodology/approach Panel data estimation techniques were used to run the regression in this study, following Baltagi (1995). The authors have selected 116 listed companies to Bursa Malaysia during the period 1996-2014, to study the effect of corporate governance on firm performance. Listed companies in Malaysia are mandatory to comply with MCCG rules and regulations. Findings It was found that there was a significant improvement in the performance of listed companies after Malaysian Government’s implementation of MCCG (2000) which means that MCCG matters for firm performance in Malaysia. It was also found that there was no significance difference in the overall impact of implementation of MCCG on performance level between government-linked companies (GLCs) and private companies (PCs). Research limitations/implications The authors have selected only 116 listed companies to Bursa Malaysia during the period 1996-2014, to study the effect of corporate governance on firm performance. The selection of the data was based on the availability of data in Thomson data stream. Originality/value The findings had contributed to the understanding that the MCCG has improved significantly the performance of listed companies in Malaysia.

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