- Tytuł:
- On the Role of Portfolio Indicators of the Capital Flows in the Convergence Processes - An Application of Systems of Regression Equations in the Case of Selected CEE Countries
- Autorzy:
-
Adamczyk, Piotr
Pipień, Mateusz - Powiązania:
- https://bibliotekanauki.pl/articles/2119883.pdf
- Data publikacji:
- 2022
- Wydawca:
- Polska Akademia Nauk. Czytelnia Czasopism PAN
- Tematy:
-
convergence
labour productivity
economic growth
SURE
capital flows - Opis:
- We analysed the empirical importance of the capital flows in processes of economic convergence of the CEE region. We depart from reference net measures of capital flow reflecting the level of development of the financial system and focus on gross capital flow. Our econometric model is based on Seemingly Unrelated Regression Equation (SURE) elaborated by Arnold Zellner. This environment seems an alternative to standard panel regression, because it enables cross-country heterogeneity of parameters of interest (like pace of convergence). We tested several restrictions of the unconstrained SURE model, leading to simpler specifications that would allow for regional homogeneity of the role of a particular factor (like capital flows) in growth fluctuations and β-type convergence.
- Źródło:
-
Central European Journal of Economic Modelling and Econometrics; 2022, 3; 303-333
2080-0886
2080-119X - Pojawia się w:
- Central European Journal of Economic Modelling and Econometrics
- Dostawca treści:
- Biblioteka Nauki