Search results for "pane"

Oil prices and Spanish competitiveness

2002

Abstract This paper tries to find, using panel cointegration techniques, the factors explaining the real exchange rate of the Spanish peseta following the monetary approach to exchange rate determination developed in Meese and Rogoff (1988). In addition to the real interest rate differential, the real oil price (adjusted accounting for the relative oil dependence of the countries considered) is included as one of the main long-run determinants. The results are favorable to this simple model, stressing the role played by both, demand and supply factors, to explain the behavior of the peseta real exchange rate. However, the results are not homogeneous in the case of the real oil prices: this …

Determinants of COVID-19 Vaccine Rollouts and Their Effects on Health Outcomes

2022

Background Vaccination against the coronavirus disease (SARS-CoV-2) is understood to be the key way out of the COVID-19 pandemic. Limited evidence exists on the determinants of vaccine rollouts and their health effects at the country level. Objective Examine the determinants of COVID-19 vaccine rollouts and their effects on health outcomes. Methods Ordinary least squares regressions with standard errors clustered at the country level for Cross-section and Panel daily data of vaccinations and various health outcomes (new COVID-19 cases, fatalities, intensive care unit (ICU) admissions) for an unbalanced sample of about 200 countries during the period 16 December 2020 to 20 June 2021. Results…

Mass education or a minority well educated elite in the process of growth: The case of India

2013

Abstract This paper analyzes whether mass education is more growth enhancing in developing countries than having a minority well educated elite. Using Indian Census data as a benchmark and enrollment rates at different levels of education, we compute annual attainment levels for a panel of 16 Indian states from 1961 to 2001. Results indicate that if the reduction in illiteracy stops at the primary level of education, it is not worthwhile for growth. Instead, the findings reveal a strong and significant effect on growth of a greater share of population completing tertiary education. The economic impact is also found to be large: a one percent change in tertiary education has the same effect …

TESTING FOR REAL INTEREST RATE PARITY USING PANEL STATIONARITY TESTS WITH DEPENDENCE: A NOTE*

2009

In this paper we test for real interest parity (RIRP) among the 19 major OECD countries over the period 1978:Q1–2006:Q1 using both short- and long-run definitions of interest rates. Once the independence hypothesis is rejected among these series, we test for RIRP using panel data unit root and stationarity tests based on common factor models that allow for pervasive forms of dependence. Our results indicate that there is no evidence in favor of the weak version of the RIRP since one of the common factors that have been estimated is non-stationary.

Democracy, political risks and stock market performance

2015

We study whether the emerging stock markets’ performance is affected by direct and indirect effects of democracy level and political risk. We argue that the relationship between democracy level and the political risk is parabolic instead of a simple linear relation i.e. there exists a limit in democracy after which the political risk begins to decline and this is reflected in stock prices. Using panel data for 38 emerging markets at yearly frequency and controlling for several domestic and international factors, we find a fairly robust evidence that during the period 2000-2010, this relationship is true and after some threshold, the more democratic countries produce higher returns. Similar …

A microeconometric analysis of the springboard subsidiary: The case of Spanish firms

2015

Abstract This paper provides a microeconometric analysis of the distinctive characteristics of springboard subsidiaries that have a positive impact on the subsidiaries’ performance. Based on panel data estimations for subsidiaries of European multinational companies with a presence in Spain, the authors found that if the subsidiary is located in the springboard country, then the performance improvement (increase in profit margin) of the subsidiary is about 49 percentage points. When the Spanish subsidiary is considered a springboard subsidiary, its performance is 7.7 percentage points higher than the performance of other subsidiaries that are not springboard subsidiaries. If the subsidiary …

Territorial Capital and Growth over the Great Recession: a Local Analysis for Italy"

2017

The consequences of the crisis have been mainly analyzed at national/ international levels, neglecting its differential effects on local areas. Notwithstanding the international character of the Great Recession, the different local structural features might have influenced the economic and social impact of the crisis, determining effects on the resilience and recovery chance. In this paper, we focus on the role of different territorial indicators by looking at how their relevance has changed during the recent crisis at provincial level. Our aim is threefold. First, we identify the strategic territorial elements which might be particularly relevant in ensuring a greater local absorption capa…

Infrastructures and Productivity in the Spanish Regions

1996

The aim of this paper is to analyse the role of public capital, the types of infrastructures in which it is invested, and their territorial distribution in the gains in productivity of the private sector in the Spanish regions in the period 1964-1991 using panel data techniques to control for unobserved state-specific characteristics. The results obtained show how the infrastructures most directly linked to the productive process present a significant and positive effect on productivity. They also show the importance of the network effect of the infrastructures of a productive nature as well as a decrease in the elasticity associated with such infrastructures as development progresses. El p…

ChemInform Abstract: Mixed Group 14-Group 14 Bonds. Part 5. Six Perphenylated Propane Analogues Ph3M-M′Ph2-M′′Ph3 (M, M′, M′′: Si/Ge): Electronegativ…

2010

Quantitative electron microscopic observations on Paneth cells of germfree and ex-germfree Wistar rats.

1986

Ultrastructural changes of Paneth cells of germfree (Gf) rats which had been inoculated with bacteria-containing feces from conventionally-reared (SPF) rats were quantitatively examined. 12 and 24 h after inoculation, the Paneth cells showed a striking decrease in the number of secretory granules and the occurrence of large vacuoles. Phagosomes containing bacteria were not seen. After 4 days, the secretory granules reaccumulated and smooth-surfaced apical vesicles increased in number. It is discussed that the large vacuoles may be related to membrane-retrieval events following the massive extrusion of secretory granules whereas the apical vesicles appear to serve this function when exocytos…