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Full-Text Articles in International Economics
Bank Credit And Economic Growth: A Dynamic Panel Analysis, Nuno Carlos Leitão
Bank Credit And Economic Growth: A Dynamic Panel Analysis, Nuno Carlos Leitão
Nuno Carlos Leitão
This study examines the link between bank lending and economic growth for European Union (EU-27) for the period 1990 to 2010. We apply a dynamic panel data (GMM-system estimator). This estimator permits to solve the problems of serial correlation, heteroskedasticity and endogeneity for some explanatory variables. As the results show, savings promotes growth. The inflation and bank credit have a negative impact on economic growth as previous studies.
Foreign Direct Investment-Economic Growth Nexus: The Role Of Domestic, Nuno Carlos Leitão
Foreign Direct Investment-Economic Growth Nexus: The Role Of Domestic, Nuno Carlos Leitão
Nuno Carlos Leitão
The aim of present paper is to examine the role of financial development on FDI-Growth nexus using annual data over the period of 1975-2008. The results show that financial development is playing its role well but not satisfactory. This study will provide new guidelines for policy making authorities for Portuguese's economy. The manuscript applies the unrestricted error correction model (ECM) estimator advanced by Inder (1993) while ARDL bounds testing approach is employed to find cointegration among variables. Stationarity issue is investigated by Ng-Perron unit root test. The results show that financial development stimulates economic growth for the case of Portugal. …
Fragmentation, Vertical Intra-Industry Trade, And Automobile Components, Nuno Carlos Leitão
Fragmentation, Vertical Intra-Industry Trade, And Automobile Components, Nuno Carlos Leitão
Nuno Carlos Leitão
By analyzing vertical intra-industry trade (VIIT) within Portugal's automobile parts and components industry, this study adds new empirical evidence for the international fragmentation of the production process. For trade partner countries, we choose the EU countries, the BRICs, and the US during the period 1995 to 2005. From panel data analysis, the empirical evidence supports the notion that shorter geographical distance, dissimilar income levels, and dissimilar endowments between two economies lead to a higher VIIT of automobile components. In addition, our results also confirm the hypothesis that automobile (assembly) production in each country promotes higher VIIT of auto parts, while …