Journal articles: 'Pooled mean group estimation'

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Blackburne, Edward F., and Mark W. Frank. "Estimation of Nonstationary Heterogeneous Panels." Stata Journal: Promoting communications on statistics and Stata 7, no. 2 (June 2007): 197–208. http://dx.doi.org/10.1177/1536867x0700700204.

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We introduce a new Stata command, xtpmg, for estimating nonstationary heterogeneous panels in which the number of groups and number of time-series observations are both large. Based on recent advances in the nonstationary panel literature, xtpmg provides three alternative estimators: a traditional fixed-effects estimator, the mean-group estimator of Pesaran and Smith (Estimating long-run relationships from dynamic heterogeneous panels, Journal of Econometrics 68: 79–113), and the pooled mean-group estimator of Pesaran, Shin, and Smith (Estimating long-run relationships in dynamic heterogeneous panels, DAE Working Papers Amalgamated Series 9721; Pooled mean group estimation of dynamic heterogeneous panels, Journal of the American Statistical Association 94: 621–634).

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Pesaran, M. Hashem, Yongcheol Shin, and Ron P. Smith. "Pooled Mean Group Estimation of Dynamic Heterogeneous Panels." Journal of the American Statistical Association 94, no. 446 (June 1999): 621–34. http://dx.doi.org/10.1080/01621459.1999.10474156.

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Ullah, Saif, and Masood Sarwar Awan. "Environmental Kuznets Curve and Income Inequality: Pooled Mean Group Estimation for Asian Developing Countries." Forman Journal of Economic Studies 15 (December 30, 2019): 157–79. http://dx.doi.org/10.32368/fjes.20191507.

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Bangake, Chrysost, and Jude C. Eggoh. "Pooled Mean Group estimation on international capital mobility in African countries." Research in Economics 66, no. 1 (March 2012): 7–17. http://dx.doi.org/10.1016/j.rie.2011.06.001.

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Martı́nez-Zarzoso, Inmaculada, and Aurelia Bengochea-Morancho. "Pooled mean group estimation of an environmental Kuznets curve for CO2." Economics Letters 82, no. 1 (January 2004): 121–26. http://dx.doi.org/10.1016/j.econlet.2003.07.008.

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Guan, Long-Fei, and Wee-Yeap Lau. "Triffin Dilemma and International Monetary System : Evidence from Pooled Mean Group Estimation." Journal of Asian Finance, Economics and Business 5, no. 2 (May 31, 2018): 5–14. http://dx.doi.org/10.13106/jafeb.2018.vol5.no2.5.

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Zaman, Khalid, Basheer M. Al-Ghazali, Aqeel Khan, Arieff Salleh Bin Rosman, S. Sriyanto, Sanil S. Hishan, and Zainudin Abu Bakar. "Pooled Mean Group Estimation for Growth, Inequality, and Poverty Triangle: Evidence from 124 Countries." Journal of Poverty 24, no. 3 (October 31, 2019): 222–40. http://dx.doi.org/10.1080/10875549.2019.1678553.

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Keho, Yaya. "Impact of Budget Deficit on Private Consumption inWAEMU Countries: Evidence from Pooled Mean Group Estimation." International Journal of Economics and Finance 8, no. 3 (February 26, 2016): 189. http://dx.doi.org/10.5539/ijef.v8n3p189.

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This study empirically investigates the impact of budget deficit on private consumption in seven member countries of the West African Economic and Monetary Union (WAEMU), namely Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal and Togo. It applies the pooled mean group estimation method to annual data covering the period 1970 to 2013. The results show that budget deficit and per capita GDP have long run positive effects on household consumption whereas inflation rate is detrimental to private consumption. This suggests that private consumption cannot be held responsible for any crowding-out effects that budget deficit might have on long run aggregate demand and economic growth in WAEMU countries. Therefore, restricting the size of budget deficits is costly for the development of WAEMU countries.

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Seraphin, Prao Yao. "Urbanization, Gender and Economic Growth in the Waemu Zone: Evidence from Pooled Mean Group Estimation." Advances in Politics and Economics 3, no. 4 (December 1, 2020): p47. http://dx.doi.org/10.22158/ape.v3n4p47.

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This study empirically analyses the influence of urbanization and the participation of men and women in the labour force on economic growth in the countries of the West African Economic and Monetary Union (WAEMU). Using data from the World Bank (2017) on the member States between 1990 and 2016, we show from Pesaran’s PMG estimator, Shin and Smith (1999) that in the short term, youth and women are very useful for economic growth. In the long term, urbanization, industrial added value and the elderly make a positive contribution to economic growth. The study urges governments to create better living conditions by ensuring adequate income levels and care, i.e., public policies should aim to increase employment, establish or improve social protection, social integration, health and the fight against discrimination.

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Khan, Hameed, Umair Khan, Li Jun Jiang, and Muhamad Asif Khan. "Impact of infrastructure on economic growth in South Asia: Evidence from pooled mean group estimation." Electricity Journal 33, no. 5 (June 2020): 106735. http://dx.doi.org/10.1016/j.tej.2020.106735.

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Goswami, Gour Gobinda, and Sadaquat H. Junayed. "Pooled Mean Group Estimation of the Bilateral Trade Balance Equation: USAvis‐à‐visher Trading Partners." International Review of Applied Economics 20, no. 4 (September 2006): 515–26. http://dx.doi.org/10.1080/02692170600874218.

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Gautam, Tej K., and Krishna P. Paudel. "Estimating sectoral demands for electricity using the pooled mean group method." Applied Energy 231 (December 2018): 54–67. http://dx.doi.org/10.1016/j.apenergy.2018.09.023.

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NARUŠEVIČIUS, Laurynas. "BANK PROFITABILITY AND MACROECONOMY: EVIDENCE FROM LITHUANIA." Technological and Economic Development of Economy 24, no. 2 (March 16, 2017): 383–405. http://dx.doi.org/10.3846/20294913.2016.1213192.

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The purpose of this paper is to investigate the relationship between profitability of the Lithuanian banking sector and its internal and external determinants. We use the panel error correction model to assess long-term and short-term determinants of items from bank income statements (net interest income, net fee and commission income and operating expenses). The results of the pooled mean group estimator show that bank size and real GDP are the main determinants in the long-term. Meanwhile, empirical examination suggests various variables as short-term determinants of income statement items. The pooled mean group estimation technique and the analysis of separate income statement items enable us to have a better insight into the Lithuanian banking sector and determinants of its revenue and expenses.

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Simões, Marta. "Education composition and growth: A pooled mean group analysis of OECD countries." Panoeconomicus 58, no. 4 (2011): 455–71. http://dx.doi.org/10.2298/pan1104454s.

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This paper uses the pooled mean group (PMG) estimator and a dataset restricted to OECD countries to examine the relationship between different levels of education, i.e. between education composition and growth. The PMG estimator allows a greater degree of parameter heterogeneity than the usual estimator procedures used in empirical growth studies by imposing common long run relationships across countries while allowing for heterogeneity in the short run responses and intercepts. Results point to a significant longterm relationship not only between higher education and growth but also between lower schooling levels and growth. This indicates that public spending on education in OECD countries should be spread across the different levels of education in a balanced way.

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Rasiah, R. R. V., M. S. Habibullah, and A. H. Baharom. "The Economic Antecedents of Human Well-Being: A Pooled Mean Group Estimation of Dynamic Heterogeneous Panel." Advanced Science Letters 21, no. 5 (May 1, 2015): 1158–61. http://dx.doi.org/10.1166/asl.2015.6015.

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Ditzen, Jan. "Estimating Dynamic Common-Correlated Effects in Stata." Stata Journal: Promoting communications on statistics and Stata 18, no. 3 (September 2018): 585–617. http://dx.doi.org/10.1177/1536867x1801800306.

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In this article, I introduce a new command, xtdcce2, that fits a dynamic common-correlated effects model with heterogeneous coefficients in a panel with a large number of observations over cross-sectional units and time periods. The estimation procedure mainly follows Chudik and Pesaran (2015b, Journal of Econometrics 188: 393–420) but additionally supports the common correlated effects estimator (Pesaran, 2006, Econometrica 74: 967–1012), the mean group estimator (Pesaran and Smith, 1995, Journal of Econometrics 68: 79–113), and the pooled mean group estimator (Pesaran, Shin, and Smith, 1999, Journal of the American Statistical Association, 94: 621–634). xtdcce2 allows heterogeneous or homogeneous coefficients and supports instrumental-variable regressions and unbalanced panels. The cross-sectional dependence test is automatically calculated and presented in the estimation output. Small-sample time-series bias can be corrected by “half-panel” jackknife correction or recursive mean adjustment. I carry out a simulation to prove the estimator's consistency.

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Jalil, Abdul, Amina Qureshi, and Mete Feridun. "Is corruption good or bad for FDI? Empirical evidence from Asia, Africa and Latin America." Panoeconomicus 63, no. 3 (2016): 259–71. http://dx.doi.org/10.2298/pan1603259j.

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This article revisits the relationship between corruption and Foreign Direct Investment inflows in a panel of 42 countries from 1984 to 2012 using pooled mean group estimator in a dynamic heterogeneous panel setting using Westerlund and ARDL panel cointegration tests where the estimations are carried out by three different estimators: the pooled mean group (PMG), mean group (MG), and the dynamic fixed effect (DFE) estimators in order to examine both the long- and short-term effects of corruption on FDI inflows. The results suggest that corruption has a positive impact on FDI inflows in the case of Asia and Africa; and a negative impact in the case of Latin America.

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Winrose, Chepng’eno. "Effect of price and exchange rate volatility on Kenyas black tea export demand: A pooled mean group estimation." Journal of Development and Agricultural Economics 10, no. 3 (March 31, 2018): 71–78. http://dx.doi.org/10.5897/jdae2017.0815.

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Sare, Yakubu Awudu, Anthony Q. Q. Aboagye, and Lord Mensah. "Financial development, sectoral effects, and international trade in Africa: An application of pooled mean group (PMG) estimation approach." International Journal of Finance & Economics 24, no. 1 (October 18, 2018): 328–47. http://dx.doi.org/10.1002/ijfe.1665.

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Chen, Ying-Hsiu, and Po-Lin Lai. "Does diversification promote risk reduction and profitability raise? Estimation of dynamic impacts using the pooled mean group model." Journal of Applied Statistics 44, no. 10 (November 22, 2016): 1893–901. http://dx.doi.org/10.1080/02664763.2016.1252729.

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Das, Anupam, and Muhammad Akhtaruzzaman . "Panel Cointegration and Pooled Mean Group Estimations of Energy-Output Dynamics in South Asia." Journal of Economics and Behavioral Studies 4, no. 5 (May 15, 2012): 277–86. http://dx.doi.org/10.22610/jebs.v4i5.328.

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This study employs the panel cointegration and pooled mean group (PMG) techniques to examine the long run relationships between energy consumption and GDP for 5 South Asian countries from 1981 to 2009. Unit root and panel cointegration tests find a long run relationship between energy consumption and GDP after allowing for country-specific effect. Furthermore, we use the PMG technique to identify the magnitude of this relationship. Our results are consistent with the theory that suggests a role of energy use in GDP. On average, a 1% increase in energy consumption leads to a 0.61% increase in the long run GDP in South Asia from 1981 to 2009. Hence, it is apparent that energy is an important component to maintain the economic activities in these countries. These results have important implications for policy makers of South Asian countries which have experienced magnificent growth performance along with a sharp rise in consumption demand for energy in last few decades.

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Liversidge, Helen M. "Demirjian Stage Tooth Formation Results from a Large Group of Children." Dental Anthropology Journal 23, no. 1 (September 2, 2018): 16–24. http://dx.doi.org/10.26575/daj.v23i1.66.

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The aim of this study is to present further data on the timing and variation of individual permanent mandibular teeth using Demirjian stages from a large collaboration. Seven mandibular permanent teeth were assessed from dental radiographs of healthy dental patients from Australia, Belgium, Canada, England, Finland, France, South Korea and Sweden (cross-sectional study; n = 9,371, 4,710 males, 4,661 females; aged 2–18). Data are presented in three ways, namely by tooth stage for males, females, and pooled sex. Mean age at entry of each tooth formation stage (maturity data) was calculated using logistic regression and modified for age prediction. The 51% confidence interval for age within stage of individual tooth stages was calculated for use in forensic age estimation where the burden of proof is on the balance of probabilities. Average age, standard deviation, standard error, 3rd and 97th percentile within tooth stage was calculated from a uniform age sample (171 for each year of age from 3 to 16, n = 2,394). Modified maturity data and average age within stage from the uniform age distribution are two new methods of age estimation.

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Sadik-Zada, Elkhan Richard, and Wilhelm Loewenstein. "Drivers of CO2-Emissions in Fossil Fuel Abundant Settings: (Pooled) Mean Group and Nonparametric Panel Analyses." Energies 13, no. 15 (August 1, 2020): 3956. http://dx.doi.org/10.3390/en13153956.

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The present inquiry addresses the income-environment relationship in oil-producing countries and scrutinizes the further drivers of atmospheric pollution in the respective settings. The existing literature that tests the environmental Kuznets curve hypothesis within the framework of the black-box approaches provides only a bird’s-eye perspective on the long-run income-environment relationship. The aspiration behind this study is making the first step toward the disentanglement of the sources of carbon dioxide emissions, which could be employed in the pollution mitigation policies of this group of countries. Based on the combination of two strands of literature, the environmental Kuznets curve conjecture and the resource curse, the paper at hand proposes an augmented theoretical framework of this inquiry. To approach the research questions empirically, the study employs advanced panel cointegration techniques. To avoid econometric misspecification, the study also employs for the first time a nonparametric time-varying coefficient panel data estimator with fixed effects (NPFE) for the dataset of 37 oil-producing countries in the time interval spanning between 1989 and 2019. The empirical analysis identifies the level of per capita income, the magnitude of oil rents, the share of fossil fuel-based electricity generation in the energy mix, and the share of the manufacturing sector in GDP as essential drivers of carbon dioxide emissions in the oil-rich countries. Tertiarization, on the contrary, leads to a substantial reduction of emissions. Another striking result of this study is that level of political rights and civil liberties are negatively associated with per capita carbon emissions in this group of countries. Furthermore, the study decisively rejects an inverted U-shaped income-emission relationship and validates the monotonically or exponentially increasing impact of average income on carbon dioxide emissions.

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Goh, Soo Khoon, Koi Nyen Wong, and Chee Lam Yew. "Are Merchandise Exports and FDI Inflows an Engine of Growth for ASEAN-10 Countries? New Evidence Using the Pooled Mean Group Estimation Method." Margin: The Journal of Applied Economic Research 12, no. 4 (September 4, 2018): 414–30. http://dx.doi.org/10.1177/0973801018786156.

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The Association of Southeast Asian Nations (ASEAN) has made remarkable economic progress in terms of rapid economic growth and expanding export trade and foreign direct investment (FDI). Theoretically speaking, both merchandise exports and FDI can be regarded as the key driving forces behind the ‘economic miracle’ of the regional economy. The major contribution of this study is that it is the first effort to empirically analyse the short-run and long-run growth effects of merchandise exports and FDI on the ASEAN-10 countries using time-series panel data. In this regard, this study aims to ascertain whether the spectacular regional growth is export- and FDI-driven, based on the ASEAN-10 panel data spanning from 1970 to 2016 using the pooled mean group (PMG) method. The findings show that merchandise exports are a key source of growth for the regional economy, attributable to the joint liberalisation efforts of the member states to expand trade and FDI. The study does not find evidence of FDI-led growth because the bulk of the FDI was invested in only a few ASEAN countries, and the minor FDI-recipient countries are at an early stage to benefit from the growth impacts of FDI, owing to lower absorptive capacity. JEL Classification: C51, F21, F23, O19

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Mithiya, Debasis, Simanti Bandyopadhyay, and Kumarjit Mandal. "The Impact of Price and Non-Price Factors on Area Allocated to Oilseeds in India: An Application of ARDL Model." Applied Economics and Finance 8, no. 4 (July 28, 2021): 42. http://dx.doi.org/10.11114/aef.v8i4.5238.

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The study attempts to investigate the dynamic relationship between acreage allocation of oilseeds and price (own price and prices of competitive crops) and also search for the link between area allocation and other non-price factors including productivity, irrigation, rainfall, technology and a policy-making variable (economic liberalization). The dynamic panel data for the year 1976-77 to 2017-18 have been used in the analysis. The study has used the autoregressive distributive lag (ARDL) model to understand the relationship between the dependent and the independent variables and to investigate the long-run equilibrium relationship between them. To estimate the model, both PMG (Pooled Mean Group) and MG (Mean group) estimation methods have been used. The Hausman test has been conducted to see the difference between the PMG and the MG results. The outcomes show that PMG serves as an efficient estimator here. The error correction terms are negative and significant. The results show strong evidence of area allocation towards oilseed crops, indicate a strong co-integration among their determinants in the long run. The ARDL results indicate that the speed of adjustment towards long-run equilibrium varies from 14.8 to 40.6 percent.

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Ha, Le, and Trung-Kien. "The Impact of Urbanization on Income Inequality: A Study in Vietnam." Journal of Risk and Financial Management 12, no. 3 (September 10, 2019): 146. http://dx.doi.org/10.3390/jrfm12030146.

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This paper explores the impact of urbanization on income inequality in Vietnam, using the regression estimation method with panel data including Driscoll and Kraay, and Pooled Mean Group. The research data cover 63 provinces in Vietnam from 2006 to 2016. The results show that in the long term, urbanization has an impact on reducing income inequality. In the short term, urbanization has a negligible impact on income inequality. The hypothesis of an inverted-U-shaped relationship between urbanization and income inequality is confirmed. The high school enrollment rate and the proportion of agriculture have an effect on reducing income inequality.

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Sarkodie, Samuel Asumadu, Emmanuel Ackom, Festus Victor Bekun, and Phebe Asantewaa Owusu. "Energy–Climate–Economy–Population Nexus: An Empirical Analysis in Kenya, Senegal, and Eswatini." Sustainability 12, no. 15 (July 31, 2020): 6202. http://dx.doi.org/10.3390/su12156202.

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Motivated by the Sustainable Development Goals (SDGs) and its impact by 2030, this study examines the relationship between energy consumption (SDG 7), climate (SDG 13), economic growth and population in Kenya, Senegal and Eswatini. We employ a Kernel Regularized Least Squares (KRLS) machine learning technique and econometric methods such as Dynamic Ordinary Least Squares (DOLS), Fully Modified Ordinary Least Squares (FMOLS) regression, the Mean-Group (MG) and Pooled Mean-Group (PMG) estimation models. The econometric techniques confirm the Environmental Kuznets Curve (EKC) hypothesis between income level and CO2 emissions while the machine learning method confirms the scale effect hypothesis. We find that while CO2 emissions, population and income level spur energy demand and utilization, economic development is driven by energy use and population dynamics. This demonstrates that income, population growth, energy and CO2 emissions are inseparable, but require a collective participative decision in the achievement of the SDGs.

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Aydin, Necati, Ahmed Naser Alrajhi, and Jamel Habib Jouini. "Estimating The Impact Of R&D Spending On Total Factor Roductivity For OECD Countries: Pooled Mean Group Approach." Journal of Developing Areas 52, no. 2 (2018): 159–68. http://dx.doi.org/10.1353/jda.2018.0028.

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Wu, Yi, and Nicole Lux. "U.K. House Prices: Bubbles or Market Efficiency? Evidence from Regional Analysis." Journal of Risk and Financial Management 11, no. 3 (September 13, 2018): 54. http://dx.doi.org/10.3390/jrfm11030054.

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This paper studies U.K. regional house prices across nine regions from January 2005 to December 2017 to identify regional versus national effects on house prices and potential house price bubbles. It uses a version of the Gordon dividend discount model, modelling house prices as the present value of imputed rents as a measure of fundamentals. It differentiates between long-term and short-term effect using pooled mean group (PMG) and mean group estimation (MG) to determine variations in regional house prices during different periods relating to the most recent financial crisis. The results confirm that the crisis had differentiating effects in the short term, but there is reversion back to long-run fundamentals. Regional trend analysis shows that the house price growth in the regions has been affected differently in the short run and each region has varying long-run fundamentals. Residential property values in London have shown strongest short-run momentum.

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Börke Tunalı, Çiğdem, and Naci Tolga Saruç. "An Empirical Analysis on the Relationship between Health Care Expenditures and Economic Growth in the European Union Countries." European Journal of Medicine and Natural Sciences 2, no. 1 (March 2, 2018): 12. http://dx.doi.org/10.26417/ejmn.v2i1.p12-17.

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This paper empirically investigates the relationship between health expenditure and economic growth in the European Union countries over the period 1995-2014. By using the Dumitrescu-Hurlin Test (Dumitrescu and Hurlin, 2012) which is developed to test Granger causality in panel datasets (Lopez and Weber, 2017), it is found that there is a unidirectional relationship between these variables and gross domestic product (GDP) per capita Granger causes health expenditure per capita. After determining the direction of the relationship between health expenditure per capita and GDP per capita we estimate the short run and the long run effects of GDP per capita on health expenditure per capita by using Mean Group (MG) and Pooled Mean Group (PMG) estimators which are developed by Pesaran and Smith (1995) and Pesaran, Shin and Smith (1999) respectively. According to the estimation results, GDP per capita has a positive effect on health expenditure per capita both in the short run and the long run.

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Ayele, Getaneh Mihret. "Does real exchange rate devaluation improve the current account balance of highly indebted low income countries?" African Journal of Economic and Management Studies 10, no. 2 (June 10, 2019): 212–25. http://dx.doi.org/10.1108/ajems-11-2017-0287.

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Purpose The purpose of this paper is to examine whether real exchange rate devaluation improves the current account balance of four highly indebted low-income countries of East Africa. Design/methodology/approach The pooled mean group (PMG) approach is used for panel data from four countries over the period 1970–2016. The paper also applied bound testing and ARDL model for time-series data from individual sample countries. Findings The panel PMG/ARDL estimation result reveals that real exchange rate devaluation has no significant impact on the current account balance, both in the short and long run. However, the time-series analysis using the bound testing and restricted ARDL estimation suggests that real exchange rate devaluation improves the current account balance in the long run for only Ethiopia. The overall empirical results reveal that the current account balance would improve with the rising domestic income while it deteriorates with increasing foreign income and external indebtedness in the long run. Originality/value The paper is original.

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Tatahi, Motasam, Emre Ipekci Cetin, and M. Koray Cetin. "THE CAUSE OF HIGHER ECONOMIC GROWTH: ASSESSING THE LONG-TERM AND SHORT-TERM RELATIONSHIPS BETWEEN ECONOMIC GROWTH AND GOVERNMENT EXPENDITURE." Macroeconomic Dynamics 20, no. 1 (June 20, 2014): 229–50. http://dx.doi.org/10.1017/s1365100514000327.

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This study examines the cause of higher (5% or more) economic growth rates in countries around the world over the past 35 years. It explores the long- and short-term relationships between GDP and government expenditures in these countries. A panel data set of 60 countries over the period from 1976 to 2010 is deployed to implement pooled mean group estimation. Countries are divided into three economic growth rate groups: high, middle, and low. Panel-based/error correction models are used to estimate long-term equilibrium relationships and short-term dynamics between government expenditures and GDP growth rates. Results indicate that the hypothesis of a common long-term elasticity and a short-term dynamic relationship between GDP growth rates and government expenditures cannot be rejected for high group countries, whereas for middle group countries this is true only for the long term, not for the short term. No long-term or short-term relationship between these two variables exists for low-growth-rate countries.

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Karakotsios, Achillefs, Constantinos Katrakilidis, Dimitrios Dimitriadis, and Theodoros Christoforidis. "Examining the relationship between income inequality, taxation and economic freedom: a panel cointegration approach." Economics and Business Letters 9, no. 3 (December 8, 2020): 206–15. http://dx.doi.org/10.17811/ebl.9.3.2020.206-215.

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Income inequality has become an important challenge for both developed and developing countries. Taxation and economic freedom are considered as important factors affecting income inequality. This paper aims at the empirical investigation of the causal relationships between income inequality, taxation and economic freedom by applying panel cointegration techniques and Pooled Mean Group (PMG) estimation method on a panel of 58 countries, over the period 1995–2016. The empirical evidence supports a bidirectional long-run causal effect between taxes-to-GDP ratio and income inequality with tax-to-GDP ratio to cause negative impacts on income inequality and thus revealing the redistributive role of taxes. Furthermore, we find a positive effect from economic freedom on income inequality, suggesting a trade-off between economic freedom and income equality.

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Leemans, Eva L., Tineke P. Willems, Maarten J. van der Laan, Cornelis H. Slump, and Clark J. Zeebregts. "Biomechanical Indices for Rupture Risk Estimation in Abdominal Aortic Aneurysms." Journal of Endovascular Therapy 24, no. 2 (November 21, 2016): 254–61. http://dx.doi.org/10.1177/1526602816680088.

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Purpose: To review the use of biomechanical indices for the estimation of abdominal aortic aneurysm (AAA) rupture risk, emphasizing their potential use in a clinical setting. Methods: A search of the PubMed, Embase, Scopus, and Compendex databases was made up to June 2015 to identify articles involving biomechanical analysis of AAA rupture risk. Outcome variables [aneurysm diameter, peak wall stress (PWS), peak wall shear stress (PWSS), wall strain, peak wall rupture index (PWRI), and wall stiffness] were compared for asymptomatic intact AAAs vs symptomatic or ruptured AAAs. For quantitative analysis of the pooled data, a random effects model was used to calculate the standard mean differences (SMDs) with the 95% confidence interval (CI) for the biomechanical indices. Results: The initial database searches yielded 1894 independent articles of which 19 were included in the analysis. The PWS was significantly higher in the symptomatic/ruptured group, with a SMD of 1.11 (95% CI 0.93 to 1.26, p<0.001). Likewise, the PWRI was significantly higher in the ruptured or symptomatic group, with a SMD of 1.15 (95% CI 0.30 to 2.01, p=0.008). After adjustment for the aneurysm diameter, the PWS remained higher in the ruptured or symptomatic group, with a SMD of 0.85 (95% CI 0.46 to 1.23, p<0.001). Less is known of the wall shear stress and wall strain indices, as too few studies were available for analysis. Conclusion: Biomechanical indices are a promising tool in the assessment of AAA rupture risk as they incorporate several factors, including geometry, tissue properties, and patient-specific risk factors. However, clinical implementation of biomechanical AAA assessment remains a challenge owing to a lack of standardization.

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Odugbesan, Jamiu Adetola, and Husam Rjoub. "Relationship among HIV/AIDS Prevalence, Human Capital, Good Governance, and Sustainable Development: Empirical Evidence from Sub-Saharan Africa." Sustainability 11, no. 5 (March 4, 2019): 1348. http://dx.doi.org/10.3390/su11051348.

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: Sub-Saharan Africa is regarded as the region that accommodates about 75% of the world HIV/AIDS prevalence as of 2016. Research on the relationship between the epidemic and sustainable development is scant in this part of the world, as available literature is dominated by studies that focus on HIV and economic growth. Therefore, this study examines the relationship between sustainable development and HIV/AIDS prevalence, along with other determinants of sustainable development, such as good governance and human capital in 26 sub-Saharan Africa countries over a 27-year period from 1990—2016. The pooled mean group (PMG) estimator was employed for analysis after it was confirmed by the Hausman test for the estimation of the relationship among the variables. The results revealed a unidirectional long-run and significant relationship between HIV/AIDS prevalence and sustainable development, human capital and good governance, and human capital and sustainable development. Also, a bidirectional long-run relationship was found between good governance and HIV/AIDS prevalence. Estimation of subgroups provides a robustness check for our findings. Therefore, the paper gives new insight to the government of sub-Saharan Africa countries and major stakeholders about how to attain sustainable development in the region, while intensifying efforts on reducing HIV/AIDS prevalence, and at the same time ensuring effective good governance and human capital development.

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Tahir, Muhammad, Khizar Hayat, and Nisar Ahmad. "Investigating the Influence of Financial Development Indicators on Economic Growth: Evidence from South Asia." Accounting and Finance Research 7, no. 3 (April 29, 2018): 9. http://dx.doi.org/10.5430/afr.v7n3p9.

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The study empirically investigates the influence of Financial Development on Economic Growth in South Asia by using six indicators of Financial Development i-e: Gross Fixed Capital Formation (GFCP), Broad Money (M2), Domestic Credit to Private Sector (DCPS), Market Capitalization (MC), Trade Openness (TO) and Foreign Direct Investment (FDI). While Economic Growth is measured by Real Gross Domestic Product per Capita (GDP). For this purpose, the study used panel data from “World Development Indicators” for the period of 1980-2015 of six major South Asian countries i.e. Pakistan, India, Bangladesh, Bhutan, Sri Lanka and Nepal. These countries have common feature of being under-developed. The study shows its uniqueness by considering six under-developed South Asian countries and applying three result estimation techniques i-e: Pooled Group Mean (PMG), The Mean Group (MG) and The Dynamic Fixed Effect (DFE). Different results were produced through these three techniques. Final conclusion was drawn on the basis of Hausman test; that is PMG model estimation technique. Unit root test was also applied to check stationarity. The long run results of PMG model show significance of all independent variables, while short run results state insignificance of all independent variables except FDI. The results are consistent with the literature. Along with other recommendations, the study, especially, focuses that the trade barriers should be removed among South Asian countries as trade openness has positive influence on economic growth. It will result in expanding the magnitude of growth.

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Fofack, A. D., and S. D. Temkeng. "A cross-sectoral analysis of the relation between labor productivity and labor compensation in the European Union." Applied Econometrics 62 (2021): 54–65. http://dx.doi.org/10.22394/1993-7601-2021-62-54-65.

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The aim of this paper is to assess and compare the link between labor productivity and compensation in four industries — air transport, electronics, finance, and telecommunications — of twenty‐five member states of the European Union (EU) from 2000 to 2014. The long‐run and short‐run dynamics of productivity and compensation are analyzed using the pooled mean group (PMG), the mean group (MG) and the dynamic fixed effects (DFE) estimators. The results confirm the existence of a gap between productivity and compensation in each of those industries as mentioned in previous studies. However, the results show that despite that gap, the link between the two variables is not broken. That is, productivity and compensation are not only linked in the long run, but they also return to their long‐run equilibrium after every short‐run disturbance. The econometric analysis also reveals that the relation between productivity and compensation does not follow a significantly different pattern from one industry to the other. These findings robust to alternative models, estimation techniques and across industries, suggest that there are some other cross‐sectoral factors preventing productivity gains to be fully reflected on paychecks.

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Ijirshar, Victor U. "Impact of Trade Openness on Economic Growth among ECOWAS Countries: 1975-2017." Central Bank of Nigeria Journal of Applied Statistics, Vol. 10 No. 1 (August 27, 2019): 75–96. http://dx.doi.org/10.33429/cjas.10119.4/6.

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This study assesses the impact of trade openness on economic growth among ECOWAS countries uses secondary data from 1975 to 2017. The study uses non-stationary heterogeneous dynamic panel models through the application of Pooled Mean Group (PMG) and Mean Group (MG) estimators since time dimension was more than cross-sections. Using the Hausman test, PMG estimator was preferred. Results show that trade openness has positive effects on growth in ECOWAS countries in the long-run but mixed effects in the short-run. The study therefore recommends that ECOWAS member countries improve cooperation among economic actors by using export consortia so as to help SMEs in the region access international markets and to pursue a twin strategy of trade and competitiveness.

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Tinker, N. A., D. E. Mather, and M. G. Fortin. "Pooled DNA for linkage analysis: practical and statistical considerations." Genome 37, no. 6 (December 1, 1994): 999–1004. http://dx.doi.org/10.1139/g94-141.

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In an F2 population, the alleles at two loci with a recombination fraction r < 0.5 are in linkage disequilibrium. If r is small, then a pool of DNA from k diploid individuals that are fixed at one locus has a relatively high probability (P = (1 − r)2k) of containing only the coupled allele at the second locus. Based on this principle, several methods have been described to detect linkage (using one or two pools) or to estimate r (using a group of n pools). This report compares maximum likelihood and approximate estimators of r for use in pooled-DNA analysis and illustrates the use of this analysis for dominant markers. Expected values and expected mean squares for estimators of r were computed for varying levels of r, k, and n. Both estimators were biased, but the bias and variability were slightly smaller for the maximum-likelihood estimator. Bias was not severe except when k was large relative to r and (or) n. Methods for optimizing k are discussed relative to several criteria: minimizing variance, minimizing bias, minimizing the probability that linkage cannot be detected, and minimizing the number of samples that must be screened.Key words: pooled DNA, linkage analysis, molecular markers, RAPD, genetic mapping.

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Tan, Ai-Lian, and Normaz Wana Ismail. "Foreign Direct Investment, Sovereign Debt and Growth: Evidence for the Euro Area." American Journal of Trade and Policy 2, no. 2 (August 31, 2015): 51–58. http://dx.doi.org/10.18034/ajtp.v2i2.383.

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In light of the global financial crisis, an extensive implementation of fiscal stimulus packages has triggered an enormous soared of public debt in Europe. While grappling with this albatross, the high debt level has aroused the paramount interest of this study casts doubt on the role of sovereign debt towards the linkage between FDI and economic growth. To this end, this study aims to assess the effects of debt on growth through the channel of FDI in European countries by applying Pooled Mean Group (PMG) estimation. The empirical findings, by and large, suggest that a lower growth performance is evident with the association of high government debt through foreign investment. In a nutshell, over borrowing of public finance would crowd out private investment and hence stifle economic growth. JEL Classifications Code: F21, F34, F43, G01

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Alekhin, B. I. "Vertical Fiscal Imbalance and Regional Economic Growth." Financial Journal 12, no. 6 (2020): 39–53. http://dx.doi.org/10.31107/2075-1990-2020-6-39-53.

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This study examines the impact of fiscal decentralization on regional economic growth using panel data for 82 subjects of the Russian Federation for the period 2005-2018. General theoretical framework was drawn from the second-generation theory of fiscal federalism, and panel data econometrics suggested the appropriate empirical model and estimation method. The pooled mean group method was used to estimate an autoregressive distributed lags model based on Solow-Swan theory of economic growth. The results indicate that vertical fiscal gap has a negative and significant long-term impact on regional economic growth while vertical fiscal imbalance has a positive and significant long-term effect. The study is consistent with the modern theory of fiscal federalism, W.E. Oates’ matching hypothesis and previous empirical work using Russian data. The study also found evidence of conditional convergence of regional economies.

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Hafeez, Abida, Karim Bux Shah Syed, and Fiza Qureshi. "Exploring the Relationship between Government R & D Expenditures and Economic Growth in a Global Perspective: A PMG Estimation Approach." International Business Research 12, no. 4 (March 28, 2019): 163. http://dx.doi.org/10.5539/ibr.v12n4p163.

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This paper analyses the impact of research and development (R&D) expenditures on economic growth in a global perspective utilizing the data of 60 developed and developing countries from 1998 to 2015. This study employs the Pooled Mean Group Estimators (PMGE) proposed by Pesaran et al. (1999) to find a heterogeneous trend among different groups of countries. The findings suggest that there exist a significant & positive relationship amongst R&D spending and economic growth globally, which appears consistent with economic theory. The study also confirms both long and short run relationship of economic growth and expenditures on R& D except that the short-run coefficient appears insignificant in the case of developing countries. This study implies that economies with higher R& D spending tend to have higher economic growth. This study has retentive policy implications for management and policymakers who could make important endeavors at the national level in this regard.

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Alvan, Arzu. "Role of Capital Productivity in Economic Growth." International Journal of Social Sciences and Humanities Invention 8, no. 08 (August 6, 2020): 6098–110. http://dx.doi.org/10.18535/ijsshi/v7i08.02.

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The main aim of this study is to measure the value of the capital in labour productivity growth at Turkish manufacturing industry within the years of 1980-2011 by applying an econometric model that account for cross-section dependence and heterogeneity of production technology in a panel setting, which is not done before. That is the common correlated effects (CCE) type estimator of Pesaran is applied. The cross-sectional averages of the dependent and explanatory variables are used at the CCE estimator. The main findings of the study are; first, individual industry regression results convey apparent technology heterogeneity across the industries. Second, imposing slope homogeneity restriction in the pooled models lends a lot of precision to the capital productivity estimate. When tested, the industries are not poolable. But, interestingly, the mean-group and pooled estimates of technology coefficients are close. The technology estimates are sensitive to the presence of observed and unobserved common factors, justifying the use of CCE estimators.

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Vincent, Ruby Ramya, Devapriya Appukuttan, Dhayanand John Victor, and Aruna Balasundaram. "Oxidative stress in chronic periodontitis patients with type II diabetes mellitus." European Journal of Dentistry 12, no. 02 (April 2018): 225–31. http://dx.doi.org/10.4103/ejd.ejd_244_17.

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ABSTRACT Objective: Oxidative stress (OS) refers to the disequilibrium between free radicals and antioxidant defense mechanisms and is significantly implicated in the pathogenesis of chronic degenerative and inflammatory diseases such as chronic periodontal disease (CP) and diabetes mellitus (DM). This study aimed to evaluate the total antioxidants capacity (TAOC) and total oxidants status (TOS) in the gingival crevicular fluid (GCF) in CP participants with type II DM. Materials and Methods: A total of 80 participants were allotted into four groups as follows: Group 1: Generalized CP (GCP) without type II DM (n = 20); Group 2: GCP with type II DM (n = 20); Group 3: Type II DM without CP (n = 20); and Group 4: Systemically and periodontally healthy (PH) (n = 20). Clinical parameters such as plaque index, gingival index, probing pocket depth, and clinical attachment level were recorded. Pooled GCF was collected followed by the estimation of TAOC, TOS, and OS index (OSI) using Erel O Colorimetric analysis. Results: The clinical parameters recorded showed the statistically significant difference (P < 0.001) between the groups. The mean TAOC value was the highest in PH group. The mean TOS and OSI were higher in Group 1, 2, and 3 participants when compared to the PH participants. All the biochemical parameters evaluated showed a statistically significant difference (P < 0.001) between groups. Conclusions: The study further validates the use of OSI as a marker for periodontal disease activity and emphasizes the role of OS in the pathogenesis of Type II diabetic patients with the chronic periodontal disease.

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Bosnjak, Mile, Vlatka Bilas, and Ivan Novak. "Sustainability of merchandise trade flows between Croatia and other EU member states: Panel cointegration approach." Panoeconomicus 66, no. 1 (2019): 113–31. http://dx.doi.org/10.2298/pan160409022b.

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This research examined the sustainability of merchandise trade flows between Croatia and other European Union (EU) member states. Merchandise exports and imports were disaggregated into bilateral merchandise trade flows between Croatia and nineteen EU trading partners for the period 1999-2014. Following Granger-causality and cointegration tests for panel data, we specified the model to be estimated. Using a pooled mean group (PMG) estimator for dynamic heterogeneous panel data, the relationship between Croatian merchandise export and import was assessed empirically. Research results revealed unsustainable Croatian merchandise exports and imports vis-?-vis nineteen EU partners.

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Kim, Dong-Hyeon, and Shu-Chin Lin. "DYNAMIC RELATIONSHIP BETWEEN INFLATION AND FINANCIAL DEVELOPMENT." Macroeconomic Dynamics 14, no. 3 (April 23, 2010): 343–64. http://dx.doi.org/10.1017/s1365100509090312.

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This paper studies the long- and short-run relationships between inflation and financial development. Applying the Pooled Mean Group estimator of Pesaran, Shin, and Smith (1999, Journal of the American Statistical Association 94, 621–634) to unbalanced panel data for 87 countries over the period 1960–2005, we find that a negative long-run relationship between inflation and financial development coexists with a positive short-run relationship. However, when the data are split into different income or inflation groups, these results can be observed only in low-income or low-inflation economies.

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Joy, Ryan, Cesar M. Rodriguez, and Inder J. Ruprah. "The Labor Share Squeeze in Latin America: A Dynamic Heterogeneous Approach." Global Economy Journal 18, no. 2 (November 14, 2017): 20170083. http://dx.doi.org/10.1515/gej-2017-0083.

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This paper analyzes the long-run relationship between labor share and its determinants for 20 Latin American countries from 1980 to 2014. Using the pooled mean group estimator, we find evidence that technological change, the globalization process, and financial integration, have contributed to the decline of labor share in Latin America. We also find evidence of the importance of institutional factors and public spending for the labor share. Finally, we discuss the role of the informal sector on the dynamics of the decline. Our key findings are robust to various specifications and methodologies.

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Louail, Bilal, and Mohamed Salah Zouita. "The relationship between foreign direct investment, financial development and growth economic in Next-11 Countries: a PMG/ARDL estimation." Management 25, no. 1 (January 1, 2021): 28–50. http://dx.doi.org/10.2478/manment-2019-0058.

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Summary This study investigates the relationship between FDI, economic growth and financial development in the Next 11 countries. An analysis of the results was performed accordingly on the panel data gathered from the Next 11 countries from 1985 to 2019— using the Pooled Mean Group (PMG) estimation method and the Autoregressive Distributed Lag model approach (ARDL). The results indicate an impact of both economic growth and financial development on the FDI flows to the study of countries during the period between 1985 and 2019 in the long run, while no such proof is affirmed in the short run. This study’s contribution provides a better understanding of the dynamic relationship between FDI, economic growth, and financial development by providing decision-makers to understand the nature of the dynamic association between the study variables. This study provides empirical evidence about the association between inflows of FDI, economic growth and financial development within the context of the Next-11 countries. The previous literature lacks empirical study on the relationship between variables of study for the Next-11 countries.

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Mehmood, Bilal, Hafeezur Rehman, and Syed Husnain Haider Rizvi. "From Information Society to Knowledge Society: The Asian Perspective." Pakistan Journal of Information Management and Libraries 15 (December 1, 2014): 37–46. http://dx.doi.org/10.47657/201415759.

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In an era, where ‘traditional society’ is replaced by a ‘knowledge society’, there is a global inclination towards creating knowledge and nurturing its affiliated factors. Accordingly, this paper intends to scrutinize the hypothesized causal relationship between ICT and knowledge creation. Variables for ICT and knowledge creation are taken from World Development Indicators (WDI).To the best of our knowledge, this is the first study of its kind that explicitly constructs an empirical framework for ICT and knowledge creation. Depending on the availability of data, 24 countries have been selected from Asia. Time dimension for the data set is from 1990-2013, yielding a panel data set. To conduct statistical analysis of the relevant variables, we use Pooled Mean Group Estimator (PMGE), Mean Group Estimator (MGE) and Dynamic Fixed Effects Estimator (DFEE).Recommendations are made on the basis of findings from empirical analysis. To nurture knowledge creation in the knowledge society, the role of ICT is found to be positive. For a mature knowledge society, ICT, expenditure in R&D and researchers in R&D have a constructive role.

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Yeap, Geok Peng, and Hooi Hooi Lean. "NONLINEAR RELATIONSHIP BETWEEN HOUSING SUPPLY AND HOUSE PRICE IN MALAYSIA." International Journal of Strategic Property Management 24, no. 5 (July 23, 2020): 313–22. http://dx.doi.org/10.3846/ijspm.2020.12343.

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The novelty of this paper is to ascertain a nonlinear relationship between housing supply and house price. This study is conducted based on panel dataset of four different types of houses in Malaysia from 2002Q3 through 2016Q4. Although housing supply has been theoretically assumed to be positively and linearly related to house price, we observed that the number of new houses build in Malaysia has declined despite the increasing house prices. Hence, we posit that housing supply and house price are nonlinearly related. The results from pooled mean group estimation show the existence of inverted U-shaped housing supply curve. The threshold level of house price index is found at 186.92 where the effect of house price on housing starts will become negative after this point. We also find that the marginal effects of house price evaluated at the minimum and maximum levels are positive and negative, respectively, and statistically significant. This paper suggests that the squared term of house price should be included in estimating housing supply in Malaysia. The evidence of inverted U-shaped housing supply curve in Malaysia shows that housing authorities have taken steps to overcome the challenges of oversupply by reducing the approvals for housing development projects.

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Journal articles on the topic 'Pooled mean group estimation'

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