A spatial dynamic panel data approach is adopted to study regional growth convergence in the U.S. economy. In the neoclassical growth model, regions and countries are assumed to be independent from each other, which may not be valid in the real world. We introduce technological spillovers into the neoclassical framework, showing that the convergence rate is higher and there is spatial interacti...

Despite its paramount importance in the empirical growth literature, productivity convergence analysis has three problems that have yet to be resolved: (1) little attempt been made explore hierarchical structure of industry-level datasets; (2) technology heterogeneity largely ignored; and (3) cross-sectional dependence rarely allowed for. This paper aims address these within a panel data framew...

This paper considers a panel of 80 countries across all continents, over the period 1999–2019, and uses generalized method moments system estimations with data from World Bank Global Financial Development database, to explain evolution bank non-performing-loans-to-total-loans ratio. The results obtained provide clear evidence that banks high profitability, benefiting market stability located in...

Empirical growth analysis is plagued with three problems – variable selection, parameter heterogeneity and cross-sectional dependence which are addressed independently from each other in most studies. This study to propose an integrated framework that allows for error dependence, while simultaneously performing selection. We derive the asymptotic properties of estimator, apply a dataset 89 coun...