Time stability of the beta convergence among EU countries: Bayesian model averaging perspective

Próchniak, Mariusz; Witkowski, Bartosz

doi:10.1016/j.econmod.2012.08.031

Cited by 66 publications

(41 citation statements)

References 28 publications

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“…Within this alternative framework, the information criterion for catch‐up is established if β < 0. Otherwise, the estimated lagged dependent variable could also be reported and the alternative criterion (“0 < lagged value < 1”) used to assess catch‐up (see Prochniak & Witkowski, , p. 20; Prochniak & Witkowski, , p. 23).…”

Section: Resultsmentioning

confidence: 99%

Comparative sustainable development in sub‐Saharan Africa

Asongu

2018

Sustainable Development

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Motivated by sustainable development challenges in sub‐Saharan Africa, this study assesses the comparative persistence of environmental unsustainability in a sample of 44 countries in the subregion for the period 2000–2012. The empirical evidence is based on Generalized Method of Moments. Of the six hypotheses tested, it is not feasible to assess the hypothesis on resource‐wealth because of issues in the degrees of freedom. For the remaining hypotheses, the following findings are established. (i) Hypothesis 1 postulating that middle‐income countries have a lower level of persistence in carbon dioxide (CO2) emissions is valid for CO2 per‐capita emissions, CO2 emissions from electricity and heat production and CO2 emissions from liquid fuel consumption. (ii) Hypothesis 2 that countries on the edge of French civil law is valid for CO2 emissions from liquid fuel consumption and CO2 intensity, but not for CO2 per‐capita emissions. (iii) Hypothesis 3 on the postulation that politically unstable countries reflect more persistence is valid for CO2 per‐capita emissions. (iv) Hypothesis 5 on the propensity for landlocked countries to be associated with more persistence in CO2 emissions is valid for CO2 per‐capita emissions but not for CO2 emissions from liquid fuel consumption. (v) Hypothesis 6 maintaining that Christianity‐dominated countries are more environmentally friendly with regard to CO2 emissions is valid for CO2 per‐capita emissions but not for CO2 emissions from liquid fuel consumption and CO2 intensity. Implications for policy and theory are discussed.

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Section: Resultsmentioning

confidence: 99%

Comparative sustainable development in sub‐Saharan Africa

Asongu

2018

Sustainable Development

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“…e.g. Próchniak and Witkowski 2013a, b), where the Bayesian Model Averaging (BMA) method was applied to the set of explanatory variables.…”

Section: Sourcementioning

confidence: 99%

The impact of the financial system on economic growth in the context of the global crisis: empirical evidence for the EU and OECD countries

Próchniak

Wasiak

2016

Empirica

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This study aims to analyze the impact of the development and stability of the financial sector on economic growth on the basis of the quantitative methods that produce robust results. The following research hypotheses are tested: /H1/ The relationship between financial sector development (stability) and economic growth is nonlinear; /H2/ An excessively large size of the financial system does not lead to more rapid economic growth: it may even negatively affect GDP dynamics; /H3/ The inclusion of the post-crisis period gives new insights of the nature of the relationship between financial system and economic growth. The analysis covers the 28 EU and 34 OECD economies and the 1993-2013 period. The following variables are used to measure the financial sector: domestic credit provided by financial sector, bank nonperforming loans, bank capital to assets ratio, market capitalization of listed companies, turnover ratio of stocks traded, and the monetization ratio. A new element of the empirical analysis is the application of the extended econometric and economic modelling, including testing nonlinear relationships, analyzing both levels and changes of the financial variables, as well as estimating the models on the basis of a moving panel with overlapping observations. The regression equations are estimated by Blundell and Bond's GMM system estimator. Our results indicate that all the research hypotheses have been positively verified.

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“…However, most studies refer to economic aspects (trade, competition, regional policy, tax policies and fiscal pressure, the labor market, industrial relations, the agriculture sector, banking regulations…) and above all, convergence on economic growth theory. There are important contributions in this field in the economics literature; see, for example, Cappelen et al (2003), Galor (1996), Luginbuhl and Koopman (2004), Próchniak and Witkowski (2013), Quah (1996), Vickerman et al (1999) or Williamson (1996).…”

Section: Introductionmentioning

confidence: 99%