Panel VECM test results.In today’s dynamic and competitive business landscape, innovation is paramount for companies striving to maintain a competitive edge. Among various innovation strategies, corporate green innovation has gained prominence as an efficient means of achieving sustainable growth. In response to the pressing need for sustainable development, this study investigates the bidirectional cointegration link between green innovation and overall corporate innovation in a panel dataset of Chinese-listed enterprises.As China emphasizes principles like "greening" and "innovation" for twenty-first-century development, this research aligns with the nation’s goal of fostering sustainable industry growth through "green innovation”. It employs panel cointegration tests, including the Westerlund test, dynamic panel ordinary least square (DOLS), and the panel vector error correction model (VECM), using data from Chinese A-listed firms spanning from 2008 to 2020. The study reveals a robust long-term, bidirectional relationship between corporate innovation and green innovation. Notably, it demonstrates that green innovation causally impacts corporate innovation in both the short and long term. This research also conducts subsample analysis, ensuring the robustness of the main findings across both non-polluted and polluted industries. These findings provide valuable insights into how corporate innovation factors influence corporate green innovation. Consequently, they offer valuable insights for policymakers and organizations, aiding in the formulation of policies that promote environmentally friendly innovation while elevating corporate innovation standards.
Estimated Effects of Relative Prices on Trade SharesEstimated effects of relative prices on trade shares are presented in this paper for 64 countries. The equations are estimated using pooled time series, cross section data under the assumption that the error term is serially correlated across time and heteroskedastic across countries. The results
Sources for data collection.Over the decades, technology has become an essential indicator to actively participate in the economic growth of nations. The usage of technology and e-commerce had created a new pathway to improve trade in Asian countries. This study seeks to verify the linkage between e-commerce and international trade. The annual data for panel data regression analysis were collected from the World Bank covering 38 Asian countries for 11 years, from 2010 to 2020. This study applied a set of estimation procedures such as descriptive statistic, correlation matrix, stationary test (Levin–Lin–Chu test, Breitung test, Augmented Dickey Fuller test, Harris–Tzavalis and Im–Pesaran–Shin test), Kao cointegration test, autocorrelation test and heteroskedasticity test. The two-step system Generalized Method of Moments (GMM) estimator was employed for dynamic panel data analysis. Empirical findings show that e-commerce significantly impacts the international trade of Asian countries. Governments of Asian countries should employ policies related to telecommunication technologies for e-commerce improvement and realize/ reap potential benefits from international trade.
Panel unit root test summary.Affordable health care is often a result of increased government spending on the health sector. Out-of-pocket expenses remain the primary health care funding source in many South Asian nations. Lack of adequate public funding for health services, difficulty in obtaining health insurance, and high out-of-pocket costs can result in indebtedness, reductions in actual consumption, and decreased access to health care services. The study examines life expectancy and health care spending in South Asian countries. The life expectancy of South Asian countries is studied as a health outcome in relation to health care spending, gross national income per capita, and expected years of schooling. This study is based on secondary data from World Bank statistics that covers eight South Asian countries from 2000 to 2021, for a total of 176 pooled time series and cross-sectional observations. The data were analysed using econometric models, including the cross sectional dependency test, panel unit root test, panel co-integration test, vector error correction model, pair-wise Granger causality test, and Wald test statistics. The vector error correction model results indicate that health care spending, anticipated years of schooling, and gross national income per capita have a long-run association with health outcomes. Health care spending, per capita gross national income, and expected years of education have all greatly enhanced life expectancy in South Asian countries. An effective health strategy is necessary to increase people’s healthy life expectancy and well-being. To accomplish this, government may need to promote school enrolment to help people become more health literate and aware of their health outcomes. As a result, persons with more years of schooling have better health, higher levels of well-being, healthier habits, and ultimately, a longer life expectancy. This study will provide an important insight to policymakers in improving health outcomes through targeted and sustained health care spending in South Asia.
Jumanov Umidjon Do'smonovich, & Worldly Knowledge Publishing Centre. (2026). LOTIN YOZUVIGA O'TISHNING O'ZBEK TILIGA TA'SIRI AFZALLIK VA QIYINCHILIKLARI [Data set]. В Iqro (Т. 19, Выпуск 02, сс. 864–866). Zenodo. https://doi.org/10.5281/zenodo.18427041Gross Domestic Product (GDP) is one of the main determinants of a country’s economic growth. This paper investigates the impact of Islamic finance on the economic growth of six Arab countries over the 14-year period from 2009 to 2022. A dynamic panel data analysis is applied to six countries (United Arab Emirates, Saudi Arabia, Oman, Iran Islamic Republic, Lebanon, and Jordan), using 84 observations. Data were collected from World Development Indicators (WDI) provided by the World Bank (2020) and PSIFIs Data (2020). The GDP growth rate is used as a proxy for economic growth, while the annual growth rate of Islamic finance, inflation, exports, gross capital formation, FDI, and gross domestic savings are used as proxies for Islamic finance. Econometric regression analysis was conducted using Pooled OLS, Fixed Effects, and Random Effects models. Multiple diagnostic tests were used to address multicollinearity, heteroscedasticity, autocorrelation, and cross-sectional dependence. After detecting heteroscedasticity and cross-sectional dependence, robust standard errors were applied in the random-effects model estimation. The empirical results indicate that the Islamic financial system has no significant impact on the economic growth of the six Arab countries studied.
Small-Sample Methods for Cluster-Robust Variance Estimation and Hypothesis Testing in Fixed Effects ModelsIn panel data models and other regressions with unobserved effects, fixed effects estimation is often paired with cluster-robust variance estimation (CRVE) to account for heteroscedasticity and un-modeled dependence among the errors. Although asymptotically consistent, CRVE can be biased downward when the number of clusters is small, leading to hypothesis tests with rejection rates that are too high. More accurate tests can be constructed using bias-reduced linearization (BRL), which corrects the CRVE based on a working model, in conjunction with a Satterthwaite approximation for t -tests. We propose a generalization of BRL that can be applied in models with arbitrary sets of fixed effects, where the original BRL method is undefined, and describe how to apply the method when the regression is estimated after absorbing the fixed effects. We also propose a small-sample test for multiple-parameter hypotheses, which generalizes the Satterthwaite approximation for t -tests. In simulations covering a wide range of scenarios, we find that the conventional cluster-robust Wald test can severely over-reject while the proposed small-sample test maintains Type I error close to nominal levels. The proposed methods are implemented in an R package called clubSandwich. This article has online supplementary materials.
A projection-based approach for interactive fixed effects panel data modelsThis article introduces a straightforward sieve-based approach for estimation and inference of regression parameters in panel data models with interactive fixed effects. The method’s key assumption is that factor loadings can be decomposed into an unknown smooth function of individual characteristics plus an idiosyncratic error term. Our estimator offers advantages over existing approaches by taking a simple partial least squares form, eliminating the need for iterative procedures or preliminary factor estimation. The limiting distribution exhibits a discontinuity that depends on how well our basis functions explain the factor loadings, as measured by the variance of the error factor loadings. As a consequence, conventional “plug-in” methods using the estimated asymptotic covariance can produce excessively conservative coverage probabilities. We demonstrate that uniformly valid non conservative inference can be achieved through the cross-sectional bootstrap method. Monte Carlo simulations confirm the estimator’s strong performance in terms of mean squared error and good coverage results for the bootstrap procedure. An application to cross-country growth rates shows that higher consumption and government spending are associated with lower growth. Contrary to existing methods, we find that within OECD countries investment fosters growth, whereas a higher investment price level reduces it.
PVAR Estimates.Source: CouchSurfing US dataset. Legend: *, ** , ***. N = 67,183.Each variable is time-demeaned to take into account any secular trends. We controlled for heteroskedasticity by dividing each variable by its time dependent standard deviation. We addressed autocorrelation of individual observations by subtracting the forward mean, which corresponds to the mean of all future observations for each individual (Helmert transformation). The reported coefficients are -scores.
S1 Data -Over the decades, technology has become an essential indicator to actively participate in the economic growth of nations. The usage of technology and e-commerce had created a new pathway to improve trade in Asian countries. This study seeks to verify the linkage between e-commerce and international trade. The annual data for panel data regression analysis were collected from the World Bank covering 38 Asian countries for 11 years, from 2010 to 2020. This study applied a set of estimation procedures such as descriptive statistic, correlation matrix, stationary test (Levin–Lin–Chu test, Breitung test, Augmented Dickey Fuller test, Harris–Tzavalis and Im–Pesaran–Shin test), Kao cointegration test, autocorrelation test and heteroskedasticity test. The two-step system Generalized Method of Moments (GMM) estimator was employed for dynamic panel data analysis. Empirical findings show that e-commerce significantly impacts the international trade of Asian countries. Governments of Asian countries should employ policies related to telecommunication technologies for e-commerce improvement and realize/ reap potential benefits from international trade.
Panel cointegration test.Affordable health care is often a result of increased government spending on the health sector. Out-of-pocket expenses remain the primary health care funding source in many South Asian nations. Lack of adequate public funding for health services, difficulty in obtaining health insurance, and high out-of-pocket costs can result in indebtedness, reductions in actual consumption, and decreased access to health care services. The study examines life expectancy and health care spending in South Asian countries. The life expectancy of South Asian countries is studied as a health outcome in relation to health care spending, gross national income per capita, and expected years of schooling. This study is based on secondary data from World Bank statistics that covers eight South Asian countries from 2000 to 2021, for a total of 176 pooled time series and cross-sectional observations. The data were analysed using econometric models, including the cross sectional dependency test, panel unit root test, panel co-integration test, vector error correction model, pair-wise Granger causality test, and Wald test statistics. The vector error correction model results indicate that health care spending, anticipated years of schooling, and gross national income per capita have a long-run association with health outcomes. Health care spending, per capita gross national income, and expected years of education have all greatly enhanced life expectancy in South Asian countries. An effective health strategy is necessary to increase people’s healthy life expectancy and well-being. To accomplish this, government may need to promote school enrolment to help people become more health literate and aware of their health outcomes. As a result, persons with more years of schooling have better health, higher levels of well-being, healthier habits, and ultimately, a longer life expectancy. This study will provide an important insight to policymakers in improving health outcomes through targeted and sustained health care spending in South Asia.
The Dynamic Relationship between Income Inequality and Economic Growth from the Perspective of Distribution EconomicsThe objective of this study is to investigate the dynamic relationship between income inequality (ICIE) and economic growth (EG) from the perspective of distribution economics. By developing a comprehensive dynamic model, the study examines this relationship across different countries and regions. Utilizing various econometric methods, including panel data regression analysis, dynamic panel models, and structural equation models, empirical tests are conducted using panel data from 30 provinces in China spanning the period 2014-2023. The results reveal a significant negative correlation between ICIE (measured by the Gini coefficient) and EG (per capita Gross Domestic Product growth rate), with an average ICIE of 0.49 and a standard deviation of 0.26, indicating considerable variability within the sample. Furthermore, the findings suggest that reducing ICIE can foster robust EG by stimulating consumer demand, promoting human capital accumulation, and ensuring social stability (P<0.01). Therefore, reducing ICIE is of great importance for promoting healthy EG and provides scientific evidence for policymakers to improve income distribution and promote sustainable EG.
Results of hadri LM test for unit root.Using a two-step approach GMM, this study examines the short- and long-term effects of fiscal deficit on the economic growth of 42 Sub-Saharan African nations between 2011 and 2021. The World Development Index, the most reliable source, is where the panel data is taken from. Using the Levin-Lin-Chu and Hadri LM tests for unit root, it was determined that there is no risk of a random walk in the data. The study’s findings indicate that while the fiscal deficit has short-term, positive, and significant benefits on the economic growth of SSA countries, it has long-term, negative repercussions. According to the system GMM’s results, an increase in the fiscal deficit of SSA countries is linked to a short-term increase in economic growth of 0.036 percent, while an increase in the fiscal deficit of one percentage point is linked to a long-term decline in economic growth of SSA countries of 0.013 percent, holding all other factors constant. The study’s findings also showed that the budget deficit has a larger positive short-run coefficient than a negative long-run coefficient. The study also revealed that while real effective exchange rates and inflation short-term hinder economic growth, gross fixed capital creation and real interest rates are the primary drivers of economic expansion. Long-term economic growth in the SSA countries is also found to be positively and significantly impacted by gross fixed capital formation. According to the study, SSA nations should manage their fiscal deficits and, in the long run, provide more funds for gross fixed capital development.