privatization advocates believe that transfer to private sector increases firm’s performance and value, business environment, and therefore economic growth and welfare improves. in this research, by using the 70 accepted firms in the tehran stock exchange for the period of 2005 to 2009, we investigate the effect of firm’s ownership structure on their value by applying generalized method of mome...

We examine the effect of corruption control on volatility economic growth using cross-country data that cover 131 economies worldwide for period 1985–2018. To estimate model, we employ system generalized method-of-moments estimator dynamic panel data, which addresses potential endogeneity concerns internal instruments. Our results show significantly reduces volatility. This is robust to control...

This study investigated the linkages between foreign direct investment (FDI) and financial development measured by banks stock markets in 30 Asian developing countries from 1986 to 2019. We used a bivariate model with Granger causality tests test reverse FDI multivariate models system generalized method of moments (GMM) estimator identify how one factor affected other. Our results showed bidire...

It is well known that the class of strong (Generalized) AutoRegressive Conditional Heteroskedasticity (or GARCH) processes is not closed under contemporaneous aggregation. This paper provides the dynamics followed by the aggregate process when the individual persistence parameters are drawn from the same (unknown) distribution. Assuming heterogeneity across individual parameters, the dynamics o...

We propose a new, computationally efficient way to approximate the “grouped fixed effects” (GFE) estimator of Bonhomme and Manresa (2015), which estimates grouped patterns unobserved heterogeneity. To do so, we generalize fuzzy C-means objective regression settings. As clustering exponent m $$ approaches 1, converges GFE objective, recast as standard generalized method moments problem. replicat...

In a recent paper, Hausman et al. (2012) propose a new estimator, HFUL (Heteroscedasticity robust Fuller), for the linear model with endogeneity. This estimator is consistent and asymptotically normally distributed in the many instruments and many weak instruments asymptotics. Moreover, this estimator has moments, just like the estimator by Fuller (1977). The purpose of this note is to discuss ...

The purpose of this paper is to construct a dynamic stochastic production frontier incorporating the sluggish adjustment of inputs, to measure the speed of adjustment of output, and to compare the technical efficiency estimates from this dynamic model to those from a static model. Assuming that the adjustment speed of all inputs is similar for every production unit, a linear partial adjustment ...