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Corruption and the size of government: causality tests for OECD and Latin American countries

ARVATE, Paulo Roberto; CURI, Andrea Zaitune; ROCHA, Fabiana; SANCHES, Fabio A. Miessi
Fonte: ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD Publicador: ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
Tipo: Artigo de Revista Científica
Português
Relevância na Pesquisa
46.03%
The purpose of this article is to examine the causality between government size and corruption, and to verify if there is a different pattern of causality between developed Organization for Economic Co-operation and Development (OECD) countries (excluding Mexico) and developing countries (Latin American countries) during the period 1996 to 2003. Applying Granger and Huang`s (1997) methodology we find evidence that size of government Granger causes corruption in both samples. Since a larger government involvement in private markets today will be followed in future by a higher level of corruption a policy advice would be to enhance governance. The promotion of good governance helps to combat corruption given that it complements efforts to reduce corruption more directly, and it is strongly recommended by the International Monetary Fund, other multilateral institutions, and all worried with the negative impacts of corruption on economic activity.

A relação entre Customer equity e capitalização de mercado no setor de telecomunicação brasileiro

Lima, Mauricio Pozzebon de
Fonte: Universidade Federal do Rio Grande do Sul Publicador: Universidade Federal do Rio Grande do Sul
Tipo: Dissertação Formato: application/pdf
Português
Relevância na Pesquisa
25.83%
O moderno conceito de marketing, visto como filosofia empresarial, defende que a empresa deve ser centralizada no cliente, ou seja, ter todas as suas atividades integradas e alinhadas para entregar valor superior para seus consumidores. Até o final da década de 1990 havia uma clara lacuna entre o moderno conceito de marketing e as métricas existentes. Assim, as métricas de customer equity foram concebidas na tentativa de superar esse conflito entre filosofia e realidade prática de marketing. Customer equity pode ser definido como o valor monetário dos clientes enquanto um ativo da empresa, e foi apontado pela literatura como possível responsável pelo aumento da capitalização de mercado em algumas empresas. Esse estudo busca identificar a relação de causalidade entre customer equity, calculado pelo modelo de Gupta et al (2003), e a capitalização de mercado das empresas do setor de comunicação do mercado brasileiro utilizando uma série de modelos. Primeiramente rodou-se um modelo de regressão em painel com efeito aleatório, seguido de uma análise de causalidade Granger. Os resultados, em geral, não convergem com a literatura relacionada. Por fim foram discutidas as implicações gerenciais, limitações e sugestões para pesquisas futuras.; The modern concept of marketing...

Bootstrap Panel Granger-Causality Between Government Budget and External Deficits for the EU

Afonso, António; Rault, Christophe
Fonte: ISEG – Departamento de Economia Publicador: ISEG – Departamento de Economia
Tipo: Outros
Publicado em //2009 Português
Relevância na Pesquisa
56.27%
We investigate the existence of Granger-causality between current account and government budget balances over the period 1970-2007, for different EU and OECD country groupings. We use a panel-data approach based on SUR systems and Wald tests with country specific bootstrap critical values. Our results show a causal relation from budget deficits to current account deficits for several EU countries: Bulgaria, Czech Republic, Estonia, Finland, France, Italy, Hungary, Lithuania, Poland, and Slovakia, along the lines of the so-called twin-deficit relationship. Considering the effective real exchange rate in the SUR system does not substantially alter the results.

Health and Wealth of Elderly Couples: Causality Tests Using Dynamic Panel Data Models*

Michaud, Pierre-Carl; van Soest, Arthur
Fonte: PubMed Publicador: PubMed
Tipo: Artigo de Revista Científica
Português
Relevância na Pesquisa
36.21%
A positive relationship between socio-economic status (SES) and health, the “health-wealth gradient”, is repeatedly found in many industrialized countries. This study analyzes competing explanations for this gradient: causal effects from health to wealth (health causation) and causal effects from wealth to health (wealth or social causation). Using six biennial waves of couples aged 51–61 in 1992 from the U.S. Health and Retirement Study, we test for causality in panel data models incorporating unobserved heterogeneity and a lag structure supported by specification tests. In contrast to tests relying on models with only first order lags or without unobserved heterogeneity, these tests provide no evidence of causal wealth health effects. On the other hand, we find strong evidence of causal effects from both spouses’ health on household wealth. We also find an effect of the husband’s health on the wife’s mental health, but no other effects from one spouse’s health to health of the other spouse.

Estimating the influence of life satisfaction and positive affect on later income using sibling fixed effects

De Neve, Jan-Emmanuel; Oswald, Andrew J.
Fonte: National Academy of Sciences Publicador: National Academy of Sciences
Tipo: Artigo de Revista Científica
Português
Relevância na Pesquisa
15.83%
The question of whether there is a connection between income and psychological well-being is a long-studied issue across the social, psychological, and behavioral sciences. Much research has found that richer people tend to be happier. However, relatively little attention has been paid to whether happier individuals perform better financially in the first place. This possibility of reverse causality is arguably understudied. Using data from a large US representative panel, we show that adolescents and young adults who report higher life satisfaction or positive affect grow up to earn significantly higher levels of income later in life. We focus on earnings approximately one decade after the person’s well-being is measured; we exploit the availability of sibling clusters to introduce family fixed effects; we account for the human capacity to imagine later socioeconomic outcomes and to anticipate the resulting feelings in current well-being. The study’s results are robust to the inclusion of controls such as education, intelligence quotient, physical health, height, self-esteem, and later happiness. We consider how psychological well-being may influence income. Sobel–Goodman mediation tests reveal direct and indirect effects that carry the influence from happiness to income. Significant mediating pathways include a higher probability of obtaining a college degree...

The Effect of Poverty, Gender Exclusion, and Child Labor on Out-of-School Rates for Female Children

Laborda Castillo, Leopoldo; Salem, Daniel Sotelsek; Sarr, Leopold Remi
Fonte: Taylor and Francis Publicador: Taylor and Francis
Tipo: Artigo de Revista Científica
Português
Relevância na Pesquisa
15.93%
In this article, the authors analyze the effect of poverty, social exclusion, and child labor on out-of-school rates for female children. This empirical study is based on a dynamic panel model for a sample of 216 countries over the period 1970 to 2010. Results based on the generalized method of moments (GMM) of Arellano and Bond (1991) and the tests of causality and zero autocorrelation to the panel data show a negative and significant relation between contributing family workers (female) and number of primary school-age children out of school (female) in Europe and Central Asia region. However, the authors cannot find empirical evidence between primary school-age children out of school rates (female) and the variables used to analyze the effect of poverty and social exclusion (poverty headcount ratio at national poverty line and total vulnerable employment). Moreover, the article identifies effects of other variables like proportion of seats held by women in national parliaments. In addition, this article examines geographic regions separately, with the anticipation that differentials in livelihood strategies and opportunities could be reflected in female child schooling decisions.

World Bank Policy Lending and the Quality of Public Sector Governance

Smets, Lodewijk; Knack, Stephen
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Trabalho em Andamento
Português
Relevância na Pesquisa
25.83%
This study investigates the impact of World Bank development policy lending for public sector governance on the quality of public sector management and institutions. The World Bank’s Country Policy and Institutional Assessments (CPIA) are used to measure the latter, the study considers only policy conditions targeted at improvements in those areas. The analysis uses a comprehensive country-year panel data set of aid receiving-countries and finds a significant and inverse U-shaped effect of public sector conditions on the quality of public sector governance. For most observed values in the data, the impact is positive, but it turns negative beyond a value of 80 conditions. At that point, the predicted CPIA score is about 0.25 point (0.3 standard deviation) higher than with zero conditions. For most observations, the number of cumulative conditions is below 80, so the estimated effect of more conditions is generally positive. The analysis corrects for potential endogeneity and shows that the results are robust to sample restrictions...

Examining Alcohol's Contribution to the US African-American/White Cirrhosis Mortality Differential from 1950 to 2002

Kerr, William C.; Karriker-Jaffe, Katherine J.; Ye, Yu
Fonte: Oxford University Press Publicador: Oxford University Press
Tipo: Artigo de Revista Científica
Português
Relevância na Pesquisa
25.83%
Aims: The aim of this study was to estimate the overall impact of alcohol on US race- and sex-specific age-adjusted cirrhosis mortality rates and to consider beverage-specific effects that represent changes in drinking patterns over time, comparing states with large and small African-American/White cirrhosis mortality differentials. Methods: Using series data from 1950 to 2002, the effects of per capita alcohol consumption on cirrhosis mortality for African American and White men and women were estimated using generalized least squares panel models on first-differenced data. Granger causality tests explored geographic patterning of racial differences in cirrhosis mortality. Results: Cirrhosis mortality was significantly positively related to apparent consumption of alcohol, with an overall impact of 8–14%/l of ethanol. This effect was driven by spirits which were more strongly associated with mortality for African-American women and for African-American men in states with larger mortality differentials. This disparity first emerged in New York and spread through the Northeast and into Midwestern states. Conclusion: Differences in the contribution of alcohol to cirrhosis mortality rates suggest variation by race and gender in life-course patterns of heavy consumption...

Inversiones de las AFP en empresas chilenas, determinantes y efectos en el mercado

Fuentes Figueroa, Sebastián Jorge
Fonte: Universidad de Chile Publicador: Universidad de Chile
Tipo: Tesis
Português
Relevância na Pesquisa
25.99%
Magíster en Economía Aplicada; Ingeniero Civil Industrial; A julio del 2008, más del 50% de la población Chilena se encuentra afiliada al sistema de pensiones, y en donde más del 80% de los afiliados tiene menos de 50 años. Por su parte, las inversiones de las AFP representan el 56% del PIB nacional teniendo un tercio de su renta variable en acciones locales. Por otro lado, los índices accionarios, tipos de cambio y commodities, muestran volatilidades dispares y que reaccionan ante diferentes escenarios macro económicos. Lo anterior, nos lleva a tratar de responder dos preguntas: ¿Son capaces las AFP de afectar la volatilidad de los precios de las acciones de mercado? Y ¿Cumplen las AFP su rol Fiduciario? La primera pregunta se contesta utilizando una metodología distinta a la utilizada por el Banco Central de Chile en un estudio similar, y la segunda abre una nueva línea de investigación en el tema. Primero se realiza un testeo de los límites de inversión establecidos por la Superintedencia de Pensiones, que regula a las AFP, descartando que existan sesgos en los resultados debido a ellos. Para la primera pregunta, se utiliza la metodología descrita en Christophe Hurlin and Baptiste Venet (2003), Granger Causality Tests in Panel Data Models with Fixed Coefficients. Se divide la muestra por tamaño y por sector económico testeando así un modelo no lineal...

Estimating the influence of life satisfaction and positive affect on later income using sibling fixed-effects

De Neve, Jan-Emmanuel; Oswald, Andrew J.
Fonte: Centre for Economic Performance, London School of Economics and Political Science Publicador: Centre for Economic Performance, London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em //2012 Português
Relevância na Pesquisa
15.83%
The question of whether there is a connection between income and psychological well-being is a long-studied issue across the social, psychological, and behavioral sciences. Much research has found that richer people tend to be happier. However, relatively little attention has been paid to whether happier individuals perform better financially in the first place. This possibility of reverse causality is arguably understudied. Using data from a large US representative panel we show that adolescents and young adults who report higher life satisfaction or positive affect grow up to earn significantly higher levels of income later in life. We focus on earnings approximately one decade after the person’s well-being is measured; we exploit the availability of sibling clusters to introduce family fixed-effects; we account for the human capacity to imagine later socio-economic outcomes and to anticipate the resulting feelings in current wellbeing. The study’s results are robust to the inclusion of controls such as education, IQ, physical health, height, self-esteem, and later happiness. We consider how psychological well-being may influence income. Sobel-Goodman mediation tests reveal direct and indirect effects that carry the influence from happiness to income. Significant mediating pathways include a higher probability of obtaining a college degree...

Energy consumption and real GDP: Panel co-integration and causality tests for sub-Saharan African countries

Fowowe,Babajide
Fonte: Journal of Energy in Southern Africa Publicador: Journal of Energy in Southern Africa
Tipo: Artigo de Revista Científica Formato: text/html
Publicado em 01/01/2012 Português
Relevância na Pesquisa
46.3%
This paper investigates the causal relationship between energy consumption and real GDP in 14 Sub-Saharan African countries over the period 1971-2004. The results of panel co-integration tests showed that energy consumption and real GDP do not have a stable long-run equilibrium relationship. We find that for all members of the panel, there is homogenous causality from energy consumption to real GDP and vice versa. This bi-directional causality supports the feedback hypothesis.

Energy consumption and economic growth nexus: Panel co-integration and causality tests for Sub-Saharan Africa

Fatai,Basiru Oyeniran
Fonte: Journal of Energy in Southern Africa Publicador: Journal of Energy in Southern Africa
Tipo: Artigo de Revista Científica Formato: text/html
Publicado em 01/11/2014 Português
Relevância na Pesquisa
46.34%
This study reassesses the causal relationships between energy consumption and economic growth in 18 Sub-Saharan Africa countries over the period 1980-2011. The Panel Unit Root Test results show that variables (both exogenous and endogenous) are stationary at their first difference with individual effects and individual linear trends, while the results of panel co-integration tests show that energy consumption and economic growth do have a stable long-run equilibrium relationship. There is unidirectional causality from energy consumption to economic growth in East and the Southern Africa Sub-region, which supports the growth hypothesis. As a result, the related authorities in the regions should take a special interest in different sources of energy and invest more in this sector, make suitable policies in this regard and find new alternative and cheap sources of energy. But, there is no causality between energy consumption and economic growth in Central and the West Africa Sub-region, which is in line with the neutrality hypothesis. In other words, both energy consumption and economic growth are neutral with respect to each other. Our results confirm the inconclusive nature of a causality relationship between energy consumption and economic growth.