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Panel Dataset (panel + dataset)
Selected AbstractsA Shred of Credible Evidence on the Long-run Elasticity of Labour SupplyECONOMICA, Issue 308 2010ORLEY ASHENFELTER All public policies regarding taxation and the redistribution of income rely on assumptions about the long-run effect of wages rates on labour supply. The variation in existing estimates calls for a simple, natural experiment in which men can change their hours of work, and in which wages have been exogenously and permanently changed. We use a panel dataset of taxi drivers who choose their own hours, and who experienced two exogenous permanent fare increases, and estimate an elasticity of labour supply of ,0.2, implying that income effects dominate substitution effects in the long-run labour supply of males. [source] TERRORISM AND THE RETURNS TO OILECONOMICS & POLITICS, Issue 3 2009BROCK BLOMBERG The effect of terrorism on global oil prices has been largely explained through demand-side effects. We estimate an empirical model to re-examine the effect of terrorism on the price of global oil stocks across oil market regimes that reflect different supply constraints. We believe that terrorism will have larger impacts when global capacity is tight (i.e. when global demand is close to global supply). This means that any shock to capacity (say by conflict) should have the largest impact on profits before the first OPEC shock in the early 1970s. Since then, conflict shocks would not allow firms to exploit production in the same way, thus reducing the available profits that could be garnered by such production manipulation. If capacity constraints are binding when a conflict occurs, then we predict that a positive stock price reaction can be expected for oil firms from such a shock. We exploit a new panel dataset to investigate the relationship between oil profitability and conflict, using conflict data from the top 20 oil producing and exporting countries in the world. We show that in the later part of our sample, 1974,2005, as cartel behavior of OPEC member countries has diminished and as conflict has become more regular and thus the information surrounding it noisier, oil stock prices do not increase in response to conflict. However, in earlier capacity constrained eras, we find that oil stocks can in fact increase in response to conflict. In some cases, the impact of conflict may cause the return of oil stocks to increase by as much as 10 percentage points. [source] FINANCIAL DEVELOPMENT, ECONOMIC EFFICIENCY, AND PRODUCTIVITY GROWTH: EVIDENCE FROM CHINATHE DEVELOPING ECONOMIES, Issue 1 2006Sylviane GUILLAUMONT JEANNENEY O16; O47; R11 Financial development might lead to productivity improvement in developing countries. In the present study, based on the Data Envelopment Analysis approach, we use the Malmquist index to measure China's total factor productivity change and its two components (i.e., efficiency change and technical progress). We find that China has recorded an increase in total factor productivity from 1993 to 2001, and that productivity growth was mostly attributed to technical progress, rather than to improvement in efficiency. Moreover, using panel dataset covering 29 Chinese provinces over the period from 1993 to 2001 and applying the Generalized Method of Moment system estimation, we investigate the impact of financial development on productivity growth in China. Empirical results show that, during this period, financial development has significantly contributed to China's productivity growth, mainly through its favorable effect on efficiency. [source] The effects of foreign direct investment on domestic firmsTHE ECONOMICS OF TRANSITION, Issue 3 2001Evidence from firm-level panel data in emerging economies This paper uses firm-level panel data to investigate empirically the effects of foreign direct investment on the productivity performance of domestic firms in three emerging economies of Central and Eastern Europe: Bulgaria, Romania and Poland. To this end, a unique firm-level panel dataset is used with detailed information on foreign ownership at the firm level. Two main questions are addressed in the present paper: (1) do foreign firms perform better than their domestic counterparts? (2) do foreign firms generate spillovers to domestic firms? The estimation technique in this paper takes potential endogeneity of ownership, spillovers and other factors into account by estimating a fixed effects model using instrumental variables in the general methods of moment technique for panel data. Only in Poland, do foreign firms perform better than firms without foreign participation. Moreover, for all three countries studied here, I find no evidence of positive spillovers to domestic firms, on average. In contrast, on average, there are negative spillovers to domestic firms in Bulgaria and Romania, while there are no spillovers to domestic firms in Poland. This suggests a negative competition effect that dominates a positive technology effect. JEL classification: D24, F14, O52, P31. [source] DOES DUAL SOURCING LOWER PROCUREMENT COSTS?,THE JOURNAL OF INDUSTRIAL ECONOMICS, Issue 2 2006THOMAS P. LYON U.S. defense policy encourages the use of dual sourcing to reduce government procurement costs, but recent theoretical work raises doubts about the benefits of this policy. I study the determinants of dual sourcing and its effects on government procurement costs using a panel dataset of tactical missiles. I find dual sourcing is not driven by failures to reduce costs; instead, it is used more often after incumbent suppliers demonstrate quality control problems, and in settings where tacit collusion is likely to be difficult. After correcting for selection bias, dual sourcing is found to reduce government procurement costs significantly. [source] Productivity Spillovers from FDI in Malaysian Manufacturing: Evidence from Micro-panel Data,ASIAN ECONOMIC JOURNAL, Issue 2 2009Noor Aini Khalifah C23; F23; L6 Using an establishment-level panel dataset for the Malaysian manufacturing industries for 2000,2004, we argue that differences in the proxies and degrees of foreign shareholdings in measuring foreign presence lead to opposite signs and/or significance of spillover effects. The results show significant evidence of positive productivity spillovers to local establishments in the same industry, based on a broad measure of foreign presence. However, there is no evidence of positive spillover when employment share is used as a proxy for foreign presence. Furthermore, significant negative spillover effects are related to higher employment shares of wholly foreign-owned establishments. Although there is no significant difference in labor productivity between wholly foreign-owned and locally-owned establishments, both majority and minority foreign-owned establishments have significantly lower levels of labor productivity than locally-owned establishments in Malaysia. [source] Does Allocation of Public Spending Matter in Poverty Reduction?ASIAN ECONOMIC JOURNAL, Issue 4 2008Evidence from Thailand H41; H53; H54 The present paper uses a panel dataset to estimate the marginal returns to different types of government expenditure on agricultural growth and rural poverty reduction in Thailand. The study finds that additional government spending on agricultural research provides the largest return in terms of agricultural productivity and has the second largest impact on rural poverty reduction. Increased investment in rural electrification has the largest poverty reduction impact, mainly through improved nonfarm employment. Rural education has the third largest impact on both productivity and poverty reduction. Irrigation has a positive impact on agricultural productivity, but regional variation is considerable. Government spending on rural roads has no significant impact on agricultural productivity and its poverty reduction impact ranks last among all investment alternatives considered. Additional investment in the Northeast Region has a greater impact on poverty reduction than in other regions. [source] Technical Inefficiency and Production Risk in Rice Farming: Evidence from Central Luzon Philippines,ASIAN ECONOMIC JOURNAL, Issue 1 2006Renato Villano Q12; C13 There have been many previous studies of technical inefficiency in rice production in the Philippines, but none has focused simultaneously on production risk and technical inefficiency at the farm level. Rice production is inherently risky because of the heterogeneous production environment. In this study, we analyze technical inefficiency in a rainfed lowland rice environment in Central Luzon using a stochastic frontier production function with a heteroskedastic error structure. An 8-year panel dataset collected from 46 rainfed rice farmers was used to estimate flexible functional specifications. Over the whole period, the average technical efficiency was found to be 79 percent. Results indicate that there is a high degree of variability in technical efficiency estimates, which can be attributed to the instability of farming conditions in the rainfed lowland environment. Mean output was signifificantly influenced by area planted to rice, labor and the amount of fertilizer used. Consequently, these inputs were found to be risk-increasing, whereas herbicide was found to be a risk-reducing input. [source] Socioeconomic Changes and the Decline in Poverty: A View from Three Villages in the Philippines, 1985,1997,ASIAN ECONOMIC JOURNAL, Issue 4 2005Jonna P. Estudillo O10; O15 The present paper examines socioeconomic changes and decline in rural poverty using a panel dataset collected in the Philippine villages in 1985, 1993 and 1997. The most important finding is the transition of the rural economy away from a regime of low nonfarm income to a regime of high nonfarm income accompanied by a marked decline in poverty. The relative contribution of access to land on rural poverty reduction declined, whereas the relative contribution of human capital, more importantly represented by college schooling, increased over time. [source] Evidence from panel unit root and cointegration tests that the Environmental Kuznets Curve does not existAUSTRALIAN JOURNAL OF AGRICULTURAL & RESOURCE ECONOMICS, Issue 3 2003Roger Perman The Environmental Kuznets Curve (EKC) hypothesis , an inverted U-shape relation between various indicators of environmental degradation and income per capita , has become one of the ,stylised facts' of environmental and resource economics. This is despite considerable criticism on both theoretical and empirical grounds. Cointegration analysis can be used to test the validity of such stylised facts when the data involved contain stochastic trends. In the present paper, we use cointegration analysis to test the EKC hypothesis using a panel dataset of sulfur emissions and GDP data for 74 countries over a span of 31 years. We find that the data is stochastically trending in the time-series dimension. Given this, and interpreting the EKC as a long run equilibrium relationship, support for the hypothesis requires that an appropriate model cointegrates and that sulfur emissions are a concave function of income. Individual and panel cointegration tests cast doubt on the general applicability of the hypothesised relationship. Even when we find cointegration, many of the relationships for individual countries are not concave. The results show that the EKC is a problematic concept, at least in the case of sulfur emissions. [source] Mergers and acquisitions, employment, wages, and plant closures in the U.S. meat product industries,AGRIBUSINESS : AN INTERNATIONAL JOURNAL, Issue 1 2009Sang V. Nguyen The purpose of this article is to evaluate the impact of mergers and acquisitions (M&As) on wages, employment, and plant closures in the meat packing, prepared meat products, and poultry slaughter and processing industries during two merger periods, 1977,1987 and 1982,1992. The analysis relies on two balanced panel datasets of all plants owned by meat and poultry firms that existed in the 1977 Census of Manufacturing and survived until 1987 and another dataset of plants that existed in 1982 and survived until 1992. We find that (a) M&As are positively associated with wages in the meat packing and prepared meat products industries during 1977,1987, but not during 1982,1992; (b) changes in employment are positively related to M&As in all three meat and poultry industries during 1977,1987, but only in the poultry industry during 1982,1992; and (c) M&As are generally negatively associated with plant closures [EconLit. Citations: J630]. © 2009 wiley Periodicals, Inc. 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