This paper develops an adaptive elastic-net GMM estimator with many possibly invalid moment conditions. We allow for the number of structural parameters (p0) as well as the number of moment conditions increasing with the sample size (n). The new estimator conducts simultaneous model and moment selection. We estimate the structural parameters along with parameters associated with the invalid mom...

According to Balassa-Samuelson hypothesis which explains real exchange rate movements by productivity differences between tradable and non-tradable sectors, an increase in the relative of sector leads a appreciation domestic currency. In this study, we analyze whether is valid employing recent panel data tehniques for set covering 25 OECD countries period 1990-2016. To aim, effect sectoral on e...

This paper investigates the impact of government size on economic growth in selected economies of the MENA countries by using a non-linear panel data approach over the period 1990-2011. The estimation results of Panel Smooth Threshold Regression model show that when the level of government consumption is very large, the positive impact of labor force on growth is intensified. On the other hand,...

the long term goal attaining of economic system management requires the establishment of a dynamic framework to integrate multiple perspectives. this article considers the problem of economic development in macro level. as economic systems are complex adaptive systems composed of numerous numbers of components of dynamic and multidimensional nature, dynamics method is applied in this research. ...

development of financial markets as an important factor in the economic growth process always has been of interest to economists. the purpose of this paper is to study the relationship between regional financial development and economic growth. this study uses provincial annual data over the period 2000-2011 by using panel data technique. the panel co integration techniques have been used to te...

This paper analyses structural and cyclical determinants of banking profitability in 16 Western European countries. We find that financial structure matters, particularly through the beneficial effect of the capital market orientation in the respective national financial system. Furthermore, higher diversification regarding banks’ income sources shows a positive effect. The industry concentrati...

This study intends to provide an empirical answer to the question of whether Maastricht and SGP fiscal rules have affected growth of European Union countries. A growth equation augmented with fiscal variables and controlling for the period in which fiscal rules were implemented in Europe is estimated over a panel of 15 EU countries (and 8 OECD countries) for the period 1970-2005 with the purpos...

This paper studies estimation and inference in a quantile regression dynamic panel model with fixed effects. Panel data fixed effects estimators are typically biased in the presence of lagged dependent variables as regressors. To reduce the dynamic bias in the quantile regression fixed effects estimator I suggest the use of the instrumental variables quantile regression method of Chernozhukov a...