Samuel Medina-Claros, F. García-Pardo, S. Pérez-Moreno, E. Bárcena-Martín
Economic parity continues to be one of the main challenges to achieving gender equality worldwide, even though disparities between countries in the economic gender gap are frequently neglected. In this paper, we use a fuzzy logic approach to measure the extent to which countries are narrowing this gap. Specifically, we evaluate the degree to which 110 countries evolved from 2006 to 2019 in each of the three dimensions of the World Economic Forum?s Economic Participation and Opportunity Index (remuneration, participation and advancement). We focus on which countries have been left behind and to what extent they have pulled away from the rest. The findings reveal that differences across countries in advancement gender gaps are more evident than in the other dimensions. Moreover, while there are signs of convergence in the closure of the gender gaps in remuneration, we do not find such evidence for the advancement and participation gender gaps.
{"title":"Economic gender gap: Which countries are falling behind?","authors":"Samuel Medina-Claros, F. García-Pardo, S. Pérez-Moreno, E. Bárcena-Martín","doi":"10.2298/PAN2102213M","DOIUrl":"https://doi.org/10.2298/PAN2102213M","url":null,"abstract":"Economic parity continues to be one of the main challenges to achieving\u0000 gender equality worldwide, even though disparities between countries in the\u0000 economic gender gap are frequently neglected. In this paper, we use a fuzzy\u0000 logic approach to measure the extent to which countries are narrowing this\u0000 gap. Specifically, we evaluate the degree to which 110 countries evolved\u0000 from 2006 to 2019 in each of the three dimensions of the World Economic\u0000 Forum?s Economic Participation and Opportunity Index (remuneration,\u0000 participation and advancement). We focus on which countries have been left\u0000 behind and to what extent they have pulled away from the rest. The findings\u0000 reveal that differences across countries in advancement gender gaps are more\u0000 evident than in the other dimensions. Moreover, while there are signs of\u0000 convergence in the closure of the gender gaps in remuneration, we do not\u0000 find such evidence for the advancement and participation gender gaps.","PeriodicalId":45222,"journal":{"name":"Panoeconomicus","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2021-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47822296","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Overall, there is now considerable evidence that financial constraints are at the root of the lack of consumption smoothing during the Great Recession. We push this evidence forward and show that in the presence of credit constraints, a job loss leads to larger drops in households? consumption. We build a set of testable hypotheses from our theoretical model and employ microdata taken from the second round of the Life in Transition Survey (LiTS II) (European Bank for Reconstruction and Development 2010). We specifically assess the role of financial constraints in explaining households? consumption coping strategies after the crisis shocks. Economic hardship is more likely to be observed if households experience difficulties in meeting outstanding debt obligations or in obtaining new credit lines because of financial constraints. The impact of job and wage shocks on households? consumption is much attenuated, by around a half, when we control for sample selection bias in accessing the formal credit markets. In the context of increasing impoverishment across Europe, the paper shows that a careful analysis of the main determinants of households? economic and financial hardship is crucial to formulate targeted measures at the regional and local level.
{"title":"Shocks, financial constraints and households’ consumption amid the great recession","authors":"P. Arestis, G. Corrado, L. Corrado","doi":"10.2298/PAN2101001A","DOIUrl":"https://doi.org/10.2298/PAN2101001A","url":null,"abstract":"Overall, there is now considerable evidence that financial constraints are at\u0000 the root of the lack of consumption smoothing during the Great Recession. We\u0000 push this evidence forward and show that in the presence of credit\u0000 constraints, a job loss leads to larger drops in households? consumption. We\u0000 build a set of testable hypotheses from our theoretical model and employ\u0000 microdata taken from the second round of the Life in Transition Survey (LiTS\u0000 II) (European Bank for Reconstruction and Development 2010). We specifically\u0000 assess the role of financial constraints in explaining households?\u0000 consumption coping strategies after the crisis shocks. Economic hardship is\u0000 more likely to be observed if households experience difficulties in meeting\u0000 outstanding debt obligations or in obtaining new credit lines because of\u0000 financial constraints. The impact of job and wage shocks on households?\u0000 consumption is much attenuated, by around a half, when we control for sample\u0000 selection bias in accessing the formal credit markets. In the context of\u0000 increasing impoverishment across Europe, the paper shows that a careful\u0000 analysis of the main determinants of households? economic and financial\u0000 hardship is crucial to formulate targeted measures at the regional and local\u0000 level.","PeriodicalId":45222,"journal":{"name":"Panoeconomicus","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2021-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47316372","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The purpose of this study is to examine the causal linkage between military expenditures and economic growth in 27 North Atlantic Treaty Organization (NATO) member countries. Different periods are studied due to the unavailability of data for the common period for all countries. Both the symmetric and the asymmetric causality between military expenditures and economic growth are investigated under cross-sectional dependence and panel heterogeneity by using the bootstrap panel Granger causality testing approach. The results indicate that there is both symmetric and asymmetric Granger- causality between military expenditures and economic growth, which vary from one country to another. The robust empirical findings support the military expenditures and economic growth nexus in 12 of the 27 NATO member countries. Moreover, the findings show that more empirical evidence between military expenditures and economic growth can be obtained when the asymmetric causality is considered, in addition to the symmetric causality. Keywords: Defense economics, Military expenditures, Economic growth, Asymmetric bootstrap Granger causality. JEL: C33, H50, H56, 047.
{"title":"The military expenditures and economic growth nexus: Panel bootstrap granger causality evidence from NATO countries","authors":"Mehmet Topal Hanefi, Mustafa Unver, Salih Türedi","doi":"10.2298/PAN170914002T","DOIUrl":"https://doi.org/10.2298/PAN170914002T","url":null,"abstract":"The purpose of this study is to examine the causal linkage between military expenditures and economic growth in 27 North Atlantic Treaty Organization (NATO) member countries. Different periods are studied due to the unavailability of data for the common period for all countries. Both the symmetric and the asymmetric causality between military expenditures and economic growth are investigated under cross-sectional dependence and panel heterogeneity by using the bootstrap panel Granger causality testing approach. The results indicate that there is both symmetric and asymmetric Granger- causality between military expenditures and economic growth, which vary from one country to another. The robust empirical findings support the military expenditures and economic growth nexus in 12 of the 27 NATO member countries. Moreover, the findings show that more empirical evidence between military expenditures and economic growth can be obtained when the asymmetric causality is considered, in addition to the symmetric causality. Keywords: Defense economics, Military expenditures, Economic growth, Asymmetric bootstrap Granger causality. JEL: C33, H50, H56, 047.","PeriodicalId":45222,"journal":{"name":"Panoeconomicus","volume":"1 1","pages":"1-16"},"PeriodicalIF":1.0,"publicationDate":"2021-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41693151","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The current article analyzes the validity of Okun’s Law and sizable distortions that can occur in the estimation when spatial dependence and cyclical asymmetric impacts are not considered, which is a concern commonly ignored by the existing literature. Primarily spatial panel regressions (SDM, SAR, and SEM) and nonparametric regressions along with specification tests are adopted in terms of the methodology (such as panel unit root tests, panel cointegration, Moran’s I and Geary’s C tests of global spatial dependence, spatial LM, and Hausman tests). Additionally, spatial heterogeneity and cross-regional variation in Okun’s Law are investigated by adopting geographically weighted regression, LISA (local indicators for spatial association), and local Geary’s C analysis. A panel of 26 Turkish NUTS-2 regions from 2004 to 2018 was analyzed. The results clearly revealed that failing to incorporate spatial proximity and asymmetric cycle impacts leads to the biased estimation of Okun’s coefficient, such that during the downswing years of the national economy, Okun’s Law holds robustly: unemployment increases quickly in response to a decline in output. In contrast, during upswing years, the size of Okun’s coefficient is relatively much lower. Moreover, spatial dependence and heterogeneity are sizably evident. Okun’s coefficient is demonstrated to vary significantly across regions that have different industrial and labor market characteristics. As a policy implication, it has been understood that the reduction of unemployment is more difficult than initially understood, as economic growth itself does not provide a solution during upswing periods. The necessary special and region-specific policies are discussed throughout the text. Keywords: Okun’s law, Spatial regression, Cyclical asymmetry.JEL: E24, R15, E32.
{"title":"Validity of Okun’s Law in a spatially dependent and cyclical asymmetric context","authors":"H. Duran","doi":"10.2298/PAN190529003D","DOIUrl":"https://doi.org/10.2298/PAN190529003D","url":null,"abstract":"The current article analyzes the validity of Okun’s Law and sizable distortions that can occur in the estimation when spatial dependence and cyclical asymmetric impacts are not considered, which is a concern commonly ignored by the existing literature. Primarily spatial panel regressions (SDM, SAR, and SEM) and nonparametric regressions along with specification tests are adopted in terms of the methodology (such as panel unit root tests, panel cointegration, Moran’s I and Geary’s C tests of global spatial dependence, spatial LM, and Hausman tests). Additionally, spatial heterogeneity and cross-regional variation in Okun’s Law are investigated by adopting geographically weighted regression, LISA (local indicators for spatial association), and local Geary’s C analysis. A panel of 26 Turkish NUTS-2 regions from 2004 to 2018 was analyzed. The results clearly revealed that failing to incorporate spatial proximity and asymmetric cycle impacts leads to the biased estimation of Okun’s coefficient, such that during the downswing years of the national economy, Okun’s Law holds robustly: unemployment increases quickly in response to a decline in output. In contrast, during upswing years, the size of Okun’s coefficient is relatively much lower. Moreover, spatial dependence and heterogeneity are sizably evident. Okun’s coefficient is demonstrated to vary significantly across regions that have different industrial and labor market characteristics. As a policy implication, it has been understood that the reduction of unemployment is more difficult than initially understood, as economic growth itself does not provide a solution during upswing periods. The necessary special and region-specific policies are discussed throughout the text. Keywords: Okun’s law, Spatial regression, Cyclical asymmetry.JEL: E24, R15, E32.","PeriodicalId":45222,"journal":{"name":"Panoeconomicus","volume":"1 1","pages":"1-31"},"PeriodicalIF":1.0,"publicationDate":"2021-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43348687","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The World Happiness Report 2018 ranks 156 countries by their happiness levels, and revealed a link between happiness and obesity. Despite the importance of this link, few studies have analyzed this relationship. Moreover, it may be the case that the relationship between happiness and obesity is non-linear. The relationship between happiness and income, however, has been studied by several researchers, particularly after the publication of Easterlin (1974). In his famous paradox, Easterlin found that after reaching a certain level, the further increase of material wealth no longer promotes happiness. Here, we investigate whether there is a quadratic relationship between happiness & obesity and happiness & income, for a panel of EU countries for the period 2005-2016, using the system GMM method. The empirical results suggest an inverse U-shaped relationship between happiness & obesity and happiness & income, implying that as obesity (income), represented by body mass index, increases, happiness first increases then stabilizes and finally decreases. Hence, the existence of an inverted U-shaped relationship between happiness and income supports the validity of the Kuznets curve hypothesis. Some control variables were also included in the regressions in order to solve omitted variable bias problems. The results indicate that income inequality and unemployment have a significantly negative impact on happiness. Keywords: Happiness, Obesity, Income, Kuznets Curve, EU countries. JEL: D60, I31, J35.
{"title":"The impact of obesity and income on happiness: Evidence from EU countries","authors":"Saadet Kasman, A. Kasman","doi":"10.2298/PAN200311001K","DOIUrl":"https://doi.org/10.2298/PAN200311001K","url":null,"abstract":"The World Happiness Report 2018 ranks 156 countries by their happiness levels, and revealed a link between happiness and obesity. Despite the importance of this link, few studies have analyzed this relationship. Moreover, it may be the case that the relationship between happiness and obesity is non-linear. The relationship between happiness and income, however, has been studied by several researchers, particularly after the publication of Easterlin (1974). In his famous paradox, Easterlin found that after reaching a certain level, the further increase of material wealth no longer promotes happiness. Here, we investigate whether there is a quadratic relationship between happiness & obesity and happiness & income, for a panel of EU countries for the period 2005-2016, using the system GMM method. The empirical results suggest an inverse U-shaped relationship between happiness & obesity and happiness & income, implying that as obesity (income), represented by body mass index, increases, happiness first increases then stabilizes and finally decreases. Hence, the existence of an inverted U-shaped relationship between happiness and income supports the validity of the Kuznets curve hypothesis. Some control variables were also included in the regressions in order to solve omitted variable bias problems. The results indicate that income inequality and unemployment have a significantly negative impact on happiness. Keywords: Happiness, Obesity, Income, Kuznets Curve, EU countries. JEL: D60, I31, J35.","PeriodicalId":45222,"journal":{"name":"Panoeconomicus","volume":"1 1","pages":"1-1"},"PeriodicalIF":1.0,"publicationDate":"2021-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46712606","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper undertakes an interdisciplinary analysis of the global coronavirus crisis of 2020-2021, its immediate aftermath and lessons learned, through the use of some core principles of institutional and evolutionary political economy. The principle of historical specificity and evolution (linked to uneven development) examines the background to the emergence of the crisis, plus its evolution and transformation through time. The principle of heterogeneous groups and agents scrutinizes the crisis through the various groups and individuals associated with gender, class, ethnicity, age and species. The principles of circular and cumulative causation (CCC) and contradiction investigate the multiple factors responsible for the crisis and how they interact in determining the depth and recovery from the crisis. The principle of uncertainty illustrates the changing expectations underlying the business climate and consumer confidence affecting socioeconomic performance, as well as current and future policies associated with health, regulation, budgets and money. A conclusion follows.
{"title":"Global coronavirus pandemic crisis and future crisis prevention","authors":"P. O’Hara","doi":"10.2298/pan2105587o","DOIUrl":"https://doi.org/10.2298/pan2105587o","url":null,"abstract":"This paper undertakes an interdisciplinary analysis of the global coronavirus crisis of 2020-2021, its immediate aftermath and lessons learned, through the use of some core principles of institutional and evolutionary political economy. The principle of historical specificity and evolution (linked to uneven development) examines the background to the emergence of the crisis, plus its evolution and transformation through time. The principle of heterogeneous groups and agents scrutinizes the crisis through the various groups and individuals associated with gender, class, ethnicity, age and species. The principles of circular and cumulative causation (CCC) and contradiction investigate the multiple factors responsible for the crisis and how they interact in determining the depth and recovery from the crisis. The principle of uncertainty illustrates the changing expectations underlying the business climate and consumer confidence affecting socioeconomic performance, as well as current and future policies associated with health, regulation, budgets and money. A conclusion follows.","PeriodicalId":45222,"journal":{"name":"Panoeconomicus","volume":"1 1","pages":""},"PeriodicalIF":1.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68606418","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper analyses the link between the tangible investment rate and apparent labour productivity in the European manufacturing industry. The research results show a negative and opposite relation between apparent labour productivity and investment rate, that is, changes in apparent labour productivity cause changes in investment in tangible assets but not vice versa. The findings do not show any significant differences among European countries when the relation between apparent labour productivity and investment rate is analysed. However, when analysing the gross investment in tangible goods, as well as in machinery and equipment, period effects are observed. A crisis and economic slowdown reduce investment in tangible capital. Meanwhile, the growth of the economy spurs more investment. The negative correlation between apparent labour productivity and investment rate indicates that investment in tangible assets is ineffective. An analysis on individual countries is required in order to reach more nuanced conclusions.
{"title":"Link between tangible investment rate and labour productivity in the European manufacturing industry","authors":"A. Stundžienė, Asta Baliute","doi":"10.2298/pan171208012s","DOIUrl":"https://doi.org/10.2298/pan171208012s","url":null,"abstract":"This paper analyses the link between the tangible investment rate and apparent labour productivity in the European manufacturing industry. The research results show a negative and opposite relation between apparent labour productivity and investment rate, that is, changes in apparent labour productivity cause changes in investment in tangible assets but not vice versa. The findings do not show any significant differences among European countries when the relation between apparent labour productivity and investment rate is analysed. However, when analysing the gross investment in tangible goods, as well as in machinery and equipment, period effects are observed. A crisis and economic slowdown reduce investment in tangible capital. Meanwhile, the growth of the economy spurs more investment. The negative correlation between apparent labour productivity and investment rate indicates that investment in tangible assets is ineffective. An analysis on individual countries is required in order to reach more nuanced conclusions.","PeriodicalId":45222,"journal":{"name":"Panoeconomicus","volume":"1 1","pages":""},"PeriodicalIF":1.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68604398","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Anna Garashchuk, Rivera Podadera Pablo, Castillo Isla Fernando
The present contribution aims at researching the new Eurasian project on the post-Soviet area, the Eurasian Economic Union, by analyzing the legal aspects of both its institutional and economic frameworks. Because of its relatively small size, not only should the Eurasian Economic Union increase bilateral trade with its member states but also promote commerce outside the Union. In this regard, the crucial objective for success is the development of long-term relationships with its strategic partners based on mutual economic benefits and shared values. We applied the gravity model and identified not only which factors influence bilateral foreign trade, including the differences in partners? values based on a neo-institutional approach, but also analyzed those integration blocs and groups of countries to determine with which partners the Eurasian Economic Union should develop strategic partnerships.
{"title":"The Eurasian Economic Union in search of strategic partners: The gravity effects of integration blocs","authors":"Anna Garashchuk, Rivera Podadera Pablo, Castillo Isla Fernando","doi":"10.2298/pan190612008g","DOIUrl":"https://doi.org/10.2298/pan190612008g","url":null,"abstract":"The present contribution aims at researching the new Eurasian project on the post-Soviet area, the Eurasian Economic Union, by analyzing the legal aspects of both its institutional and economic frameworks. Because of its relatively small size, not only should the Eurasian Economic Union increase bilateral trade with its member states but also promote commerce outside the Union. In this regard, the crucial objective for success is the development of long-term relationships with its strategic partners based on mutual economic benefits and shared values. We applied the gravity model and identified not only which factors influence bilateral foreign trade, including the differences in partners? values based on a neo-institutional approach, but also analyzed those integration blocs and groups of countries to determine with which partners the Eurasian Economic Union should develop strategic partnerships.","PeriodicalId":45222,"journal":{"name":"Panoeconomicus","volume":"1 1","pages":""},"PeriodicalIF":1.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68605661","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The healthcare industry is a large and fast-growing segment of the corporate world, especially in developed countries. In the face of growing competition, healthcare companies inevitably resort to mergers and acquisitions (M&As) in order to accelerate their development. The objective of this study is to identify the creation of additional value for M&A deal participants in the healthcare industry in the United States and the European Union in 2008-2017. In this paper, we propose the following thesis statement: can healthcare companies expect excess returns from M&A deals? On average, M&A deals in the healthcare industry in developed countries create positive abnormal returns for acquiring companies and are efficient; a positive, significant impact on abnormal returns was found in the deal value of M&A deals, a negative significant impact was observed for deals conducted with the shares payment method and for acquiring companies with a larger number of employees.
{"title":"Analysis of the effectiveness of healthcare M&A transactions in developed countries","authors":"V. Nazarova","doi":"10.2298/PAN180203021N","DOIUrl":"https://doi.org/10.2298/PAN180203021N","url":null,"abstract":"The healthcare industry is a large and fast-growing segment of the corporate world, especially in developed countries. In the face of growing competition, healthcare companies inevitably resort to mergers and acquisitions (M&As) in order to accelerate their development. The objective of this study is to identify the creation of additional value for M&A deal participants in the healthcare industry in the United States and the European Union in 2008-2017. In this paper, we propose the following thesis statement: can healthcare companies expect excess returns from M&A deals? On average, M&A deals in the healthcare industry in developed countries create positive abnormal returns for acquiring companies and are efficient; a positive, significant impact on abnormal returns was found in the deal value of M&A deals, a negative significant impact was observed for deals conducted with the shares payment method and for acquiring companies with a larger number of employees.","PeriodicalId":45222,"journal":{"name":"Panoeconomicus","volume":"1 1","pages":""},"PeriodicalIF":1.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68604710","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this study, the panel co-integration test combined with structural breaks was used to explore the long-term co-movement between FDI and patent and trademark applications? in accordance with 33 OECD countries from 1999 to 2018. The robust results demonstrate that both innovation variables including patent and trademark comove with FDI in the OECD sample. Furthermore, this long-term co-movement of FDI and innovation experiences some structural breaks during the period 2003-2010. Finally, there is a long-term co-movement between FDI inflows and innovation activity in OECD countries.
{"title":"Does innovation co-move with FDI? Evidence from OECD countries","authors":"Chun-ping Chang","doi":"10.2298/PAN160413006C","DOIUrl":"https://doi.org/10.2298/PAN160413006C","url":null,"abstract":"In this study, the panel co-integration test combined with structural breaks was used to explore the long-term co-movement between FDI and patent and trademark applications? in accordance with 33 OECD countries from 1999 to 2018. The robust results demonstrate that both innovation variables including patent and trademark comove with FDI in the OECD sample. Furthermore, this long-term co-movement of FDI and innovation experiences some structural breaks during the period 2003-2010. Finally, there is a long-term co-movement between FDI inflows and innovation activity in OECD countries.","PeriodicalId":45222,"journal":{"name":"Panoeconomicus","volume":"1 1","pages":""},"PeriodicalIF":1.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68601507","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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