Application of Panel Data Models for Empirical Economic Analysis

Bhattarai, Keshab

doi:10.1016/b978-0-12-815859-3.00021-4

Cited by 7 publications

(6 citation statements)

References 107 publications

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“…Research conducted with the use of dynamic panel models concerns determining the determinants of economic growth (e.g., the Solow-Swan model) or estimating models based on the production function (Cobb-Douglas). Therefore, to assess the relationship between the studied factors, dynamic panel data models were used -econometric models estimated on the basis of panel data, where it is assumed that the dependent variable is affected, in addition to the explanatory variables, by lagged levels of the dependent variable and immeasurable constants over time and object-specific factors known as group effects [Bhattarai 2019].…”

Section: Methodsmentioning

confidence: 99%

“…The estimation of dynamic models was carried out using the Generalized Method of Moments (GMM), which allows the estimation of model parameters directly from the conditions of the moments. In the literature on the subject, it is assumed that both the form and the number of moment conditions used during estimation depend on the assumptions made regarding the level of correlation between the variables and the components [Bhattarai 2019]. Assuming no autocorrelation of the random term, in the process of estimating the parameters of the models, the assumption of strict exogeneity of the variables can be made, which excludes a correlation with current values, with lagging values, as well as with future values.…”

Section: Methodsmentioning

confidence: 99%

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Economic Conditions of the Demand for Investment and Working Capital Loans for Micro-Enterprises – Research for Poland During Covid-19

Balina,

Zajac,

Idasz-Balina

2024

aspe

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Aim: The study aims to find an answer to the question of whether and how the economic indicators in the industrial processing, construction, trade, and services sectors reflect changes in the market size related to investments and working capital loans for micro-enterprises. Methods: The study used data on investment and working capital loans and data on economic conditions. Monthly data for the years 2019–2021, covering the period of the COVID-19 pandemic, were used for the analyses. The estimation of dynamic models was carried out using the Generalized Method of Moments (GMM). Results: The conducted research showed that economic factors play a significant role in shaping the demand for investment and working capital loans in the micro-enterprise sector, but the impact of the economic situation was more significant in the case of investment loans than working capital loans. In periods of economic prosperity, micro-enterprises are more likely to take out investment loans than in periods of economic downturn. Micro-enterprises’ propensity to take out working capital loans is more dependent on their current situation and expectations regarding the demand for products and services. Conclusions: The research revealed differences in the characteristics of the factors significantly influencing the demand for credit, depending on the sector to which the indicator is concerned. The research shows that access to external financing is crucial for the functioning, survival, and expansion of micro, small, and medium-sized enterprises. The research fills the literature gap by showing how the economic situation in individual industries affects the credit market for the micro-enterprises sector.

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Section: Methodsmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

Economic Conditions of the Demand for Investment and Working Capital Loans for Micro-Enterprises – Research for Poland During Covid-19

Balina,

Zajac,

Idasz-Balina

2024

aspe

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“…The stationarity testing technique may be used to analyze convergence as well [99,118,119]. This study will include panel unit root testing, among other methods: Levin, Lin and Chu (LLC, common root) [120], ADF-Fisher Chi-square, and PP-Fisher Chi-square (individual root) [121].…”

Section: Methodsmentioning

confidence: 99%

The Impact of the COVID-19 Pandemic, Transport Accessibility, and Accommodation Accessibility on the Energy Intensity of Public Tourist Transport

Szaruga,

Pilecki,

Sidorkiewicz

2023

Energies

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The article concerns the recognition of the impact of the COVID-19 pandemic, transport accessibility, and accommodation availability on the energy intensity of domestic travel by tourists using public transport in spatial and dynamic relations. The article formulated five research questions: (1) Does the improvement of transport accessibility reduce the energy intensity of public tourist transport? (2) Does the improvement of accommodation availability affect the reduction of the energy intensity of domestic tourist trips of Polish residents? (3) Has COVID-19 significantly changed the energy intensity of public tourist transport? (4) Are there any spatial effects of energy intensity of domestic tourist trips of Polish inhabitants resulting from the flow of tourists between regions (voivodeships) of Poland? (5) What would be the path of energy intensity patterns of public tourist transport if fortuitous events did not occur? The study covered 16 Polish voivodeships in 2017–2021. A comprehensive approach was used, combining exploratory analysis of spatial data with regional econometrics, spatial statistics, and spatial econometrics (gravitational model of spatial convergence of energy intensity of public transport of tourists). It has been verified that the energy intensity of domestic tourist travel by public transport is the most sensitive to the effects of the COVID-19 pandemic and the most flexible to changes in transport accessibility. It is less sensitive to changes in accommodation availability. The occurrence of spatial convergence, i.e., the blurring of differences in energy intensity patterns between the analyzed voivodeships, was also identified. An increase in energy intensity in voivodeships defined as neighboring voivodeships by 1% will result in an increase in energy intensity in the i-th voivodeship by 0.2688% on average, which results from the spatial effects of changes in mobility and tourist flows (tourism). Consumption patterns shaped in previous periods also have a significant impact on energy intensity.

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“…Panel Unit-Root Test. The standard panel unit root techniques, such as the Breitung (2000), Levin et al (2002), Im et al (2003), Maddala and Wu (1999) tests, may yield misleading results in the presence of cross-sectional dependence (Bhattarai, 2021;Osabuohien-Irabor & Drapkin, 2022a;Tugcu, 2018). To get more efficient technique to address this issue, Pesaran (2007) combined both the Augmented Dickey-Fuller and IPS tests to examine panel stationarity under cross-sectional dependence.…”

Section: Estimation Strategymentioning

confidence: 99%

Global Outward Foreign Direct Investment and Economic Growth Across Income Groups: The Mediating Effect of Home Country Institutions

Osabuohien-Irabor

Drapkin

2023

Sage Open

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Although some empirical studies have examined the direct impact of outward foreign direct investment (outward FDI) on economic growth, but the indirect role play by home country institutions in outward FDI-induced economic growth remain unexplored. To cover this research gap, this study examines the impact of outward FDI on economic growth mediated by home country institutions in global panel of 161 economies, divided into World Bank income clusters such as high, upper-middle, lower-middle, and low-income economies for the period 1998 to 2019. For empirical analysis, this study utilized the Cross-Sectionally Augmented ARDL (CS-ARDL) and the Common Correlated Effect Mean Group (CCEMG) techniques robust to numerous econometric problems. In low-income countries, results indicate that outward FDI internationalization activities have adverse effect on economic growth, and the impact of home country institutions in stimulating outward FDI-induced growth appears weak both in the short term and long-term. In the case of high income, upper-middle income and lower-middle income countries, finding highlights that the joint impact of outward FDI and home country institutions stimulate higher economic growth and accelerate economic integration into the global economy. These impacts were found to diminish moving from high to low-income countries, which suggests that home country institutional development and income economy level matters for outward FDI-induced growth effects. The study also discusses key implications for policy.

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Application of Panel Data Models for Empirical Economic Analysis

Cited by 7 publications

References 107 publications

Economic Conditions of the Demand for Investment and Working Capital Loans for Micro-Enterprises – Research for Poland During Covid-19

Economic Conditions of the Demand for Investment and Working Capital Loans for Micro-Enterprises – Research for Poland During Covid-19

The Impact of the COVID-19 Pandemic, Transport Accessibility, and Accommodation Accessibility on the Energy Intensity of Public Tourist Transport

Global Outward Foreign Direct Investment and Economic Growth Across Income Groups: The Mediating Effect of Home Country Institutions

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