This paper investigates the relationship between R&D stock and productivity growth, while taking into account the effect of spatial spillovers. We propose a homogeneous dynamic panel data model and three heterogeneous dynamic panel data models to consider the individual effect as well as endogenous. We also distinguish between the estimated long-run and short-run results. Our results indicate t...

This paper examines whether foreign aid, together with other economic, social and environmental factors, contributes to sustainable development. It starts with a theoretical model where sustainable development is modelled as a different kind of growth that protects the environment. Using factor analysis and newly developed estimation methods for a dynamic panel data model with endogenous regres...

This paper examines the asymptotics of the QMLE for unit root spatial dynamic panel data models with …xed e¤ects. When the exogenous variables or …xed e¤ects are included in the DGP, the estimate for the dynamic coe¢ cient is p nT 3 consistent and the estimates of other parameters are p nT consistent, and all of them are asymptotically normal. Also, sum of the contemporaneous spatial e¤ect and ...

This paper investigates whether the India-Sri Lanka Free Trade Agreement (ISLFTA) has had trade creation or trade diversion effects on the rest of the World. The method used resembles the one used by Romalis (2005) to study NAFTA. In order to use the variations in tariff at the product level, we use six digit HS classification of products. We construct seven panel data sets for the period 1996 ...

This paper tries to explore the asymptotic properties of maximum likelihood estimators for spatial dynamic panel data with fixed effects when both the number of time periods T and number of individuals n are large. When n is proportional to T or T is relatively large, the estimator is √ nT consistent and asymptotically normal; when n is relatively large, the estimator is consistent with the rat...

This paper extends the existing research on real estate investment trust (REIT) operating efficiencies. We estimate stochastic-frontier, panel-data models specifying a translog cost function. The specified model updates the cost frontier with new information as it becomes available over time. The model can identify frontier cost improvements, returns to scale, and cost inefficiencies over time....

Abstract. Angrist et al. (2002) study is reconsidered using a relatively new quantile regression approach for panel data models. The evidence suggests that the effect of winning a Colombian voucher is largest in the lower tail of the educational attainment distribution, a possibility that was conjectured by the original authors, but could not be confirmed empirically using existing regression m...

We investigate the impact of exogenous income fluctuations on health using twenty years of data from the Panel Study of Income Dynamics. To unravel the impact of income on health from unobserved heterogeneity and reverse causality, we employ techniques from the literature on the estimation of dynamic panel data models. Contrary to much of the previous literature on health and socio-economic sta...

This paper argues that actual technological spillovers are not substantial in developing countries because of the absence of an absorptive capacity. We carry out a panel data analysis in an attempt to gain insight into the specific aspects that enable economies to benefit from the backlog of existing knowledge. Our findings indicate that low productivity effects of human capital coupled with we...