scholarly journals Private Schooling Promotes Political and Economic Freedom? An International Fixed Effects Instrumental Variables Analysis

2017 ◽  
Author(s):  
Corey A. DeAngelis ◽  
M. Danish Shakeel
Keyword(s):  
Instrumental Variables ◽  
Fixed Effects ◽  
Economic Freedom ◽  
Private Schooling

Worker Trust in Management and Delegation in Organizations

2020 ◽  
Author(s):  
Kieron J Meagher ◽  
Andrew Wait
Keyword(s):  
Decision Making ◽  
Instrumental Variables ◽  
Fixed Effects ◽  
Employee Trust ◽  
Quality Practices ◽  
Decision Authority ◽  
Management Quality ◽  
Trust In Management ◽  
Alternative Measures ◽  
Establishment Survey

Abstract Using a unique employee–establishment survey, we find a causal relationship between an individual employee’s trust of management and their decision-making rights (delegation). We utilize both fixed effects (FE) and instrumental variables to control for unobserved factors: establishment-level FE control for management quality, practices, culture, and other characteristics; our instruments of inherited trust in management, and trust of equivalent workers in a different but similar country address the possible endogeneity of employee trust. Across all specifications, we find that delegation to a worker is more likely if that employee trusts management. In our preferred model, which includes establishment FE and accounts for endogeneity, we find a 1 standard deviation (SD) increase in employee trust increases delegation by approximately 0.6 of 1 SD. Our results are robust to the inclusion of worker preferences for individualism (which favors delegation), incentives/bonuses, and alternative measures of decision authority. (JEL D23, L22, L23).

scholarly journals A Panel Data Study of the Effects of Economic Freedom, Regulatory Quality, and Taxation on the Growth Rate of Per Capita Real GDP

2012 ◽  
Vol 30 (1) ◽  
pp. 103-122
Author(s):  
Richard J. Cebula ◽  
Maggie Foley
Keyword(s):  
Growth Rate ◽  
Fixed Effects ◽  
Economic Freedom ◽  
Government Regulation ◽  
The Third ◽  
Real Gdp ◽  
Regulatory Quality ◽  
Gdp Growth Rate ◽  
Per Capita ◽  
The Cost

Abstract This study empirically investigates three hypotheses. The first is that higher levels of economic freedom in an economy promote a higher growth rate of economic activity and hence yield a higher growth rate of per capita real GDP in that economy. The second hypothesis is that higher quality government regulation leads to a more efficient economic system, in large part by interfering less with market functioning and in part by not adding unnecessarily to the cost of conducting business in the marketplace, and thereby leads to a higher per capita real GDP growth rate. The third hypothesis is that the higher the taxation level/burden relative to GDP in an economy, the lower the growth rate of private sector spending and hence the lower the growth rate of per capita real GDP in that economy. Using a panel dataset for OECD nations over the 2003 through 2006 period, fixed effects PLS estimations find compelling evidence in support of all three of these hypotheses.

scholarly journals Novel insights into the consequences of obesity: a phenotype-wide Mendelian randomization study

2022 ◽  
Author(s):  
Chang He ◽  
Miaoran Zhang ◽  
Jiuling Li ◽  
Yiqing Wang ◽  
Lanlan Chen ◽  
...  
Keyword(s):  
Instrumental Variables ◽  
Fixed Effects ◽  
Mendelian Randomization ◽  
Portion Size ◽  
Causal Effects ◽  
Calorie Intake ◽  
Smoking Behaviors ◽  
Prostate Cancers ◽  
The Uk ◽  
Consequences Of Obesity

AbstractObesity is thought to significantly impact the quality of life. In this study, we sought to evaluate the health consequences of obesity on the risk of a broad spectrum of human diseases. The causal effects of exposing to obesity on health outcomes were inferred using Mendelian randomization (MR) analyses using a fixed effects inverse-variance weighted model. The instrumental variables were SNPs associated with obesity as measured by body mass index (BMI) reported by GIANT consortium. The spectrum of outcome consisted of the phenotypes from published GWAS and the UK Biobank. The MR-Egger intercept test was applied to estimate horizontal pleiotropic effects, along with Cochran’s Q test to assess heterogeneity among the causal effects of instrumental variables. Our MR results confirmed many putative disease risks due to obesity, such as diabetes, dyslipidemia, sleep disorder, gout, smoking behaviors, arthritis, myocardial infarction, and diabetes-related eye disease. The novel findings indicated that elevated red blood cell count was inferred as a mediator of BMI-induced type 2 diabetes in our bidirectional MR analysis. Intriguingly, the effects that higher BMI could decrease the risk of both skin and prostate cancers, reduce calorie intake, and increase the portion size warrant further studies. Our results shed light on a novel mechanism of the disease-causing roles of obesity.

Crisis facilitates policy change, not liberalization

2016 ◽  
Vol 8 (2) ◽  
pp. 248-267 ◽  
Author(s):  
Marshall L. Stocker
Keyword(s):  
Economic Policy ◽  
Policy Change ◽  
Capital Market ◽  
Fixed Effects ◽  
Economic Freedom ◽  
Equity Market ◽  
Market Returns ◽  
Content Type ◽  
Market Sentiment ◽  
Crisis Events

Purpose Crisis events are windows of opportunity during which a country’s leaders may implement economic policy adjustments which change that country’s level of economic freedom and affect the local capital market. This paper aims to investigate the relationship between annual changes in an economic freedom index, six types of crises and equity market returns. Design/methodology/approach The author uses fixed-effects regressions on annual panel data for 69 countries during the period 2000-2010. Findings Banking, domestic debt and inflation crises decrease economic freedom, and an external debt crisis weakly relates to increases in economic freedom. Only banking crises relate to a change in economic freedom in the following year, suggesting that crisis-driven changes in economic freedom happen quickly. Gains in economic freedom are more likely to occur during periods of positive local and global equity returns. Preceding and contemporaneous to increases in economic freedom, a country’s equity market outperforms a global equity index, offering observers a leading indicator for economic policy change. Originality/value The author finds that crises coincide with decreases in economic freedom, while gains in economic freedom happen during periods of positive capital market sentiment. The absence of a relationship between one-year lagged crisis events and changes in economic freedom suggests prior research relating gains in economic freedom to a crisis occurring 5 or 10 years earlier is a relationship which is more complex, non-linear and specific to the selected data period or spurious. Furthermore, relative equity market returns are related to changes in economic freedom, suggesting that equity markets identify which countries have increased economic freedom, long before popular economic freedom indexes are published.

Advertising expenditures in Brazil and its connection with the international economy

2016 ◽  
Vol 9 (1) ◽  
pp. 43
Author(s):  
Fábio Pesavento ◽  
André Marques
Keyword(s):  
Fixed Effects ◽  
Economic Freedom ◽  
Inflation Rate ◽  
The United States ◽  
International Economy ◽  
Fixed Effects Model ◽  
Trade Relations ◽  
Level Of Activity ◽  
Economic Freedom Index ◽  
Significant Patterns

The strong performance of the Brazilian economy during the 2000s allows the expansion of various sectors, including the advertising market, associated with the growth of the domestic market and the intensification of trade relations with other countries. The main objective of this study is to test the Relative Constancy Principle (RCP) in the context of greater integration with international economy, controlling for several factors that may exhibit some influence on the performance of the advertising market. We adopt a panel data of two periods for 49 countries and estimate a linear fixed effects model with dummies, controlling for the heterogeneity and unobserved factors of the countries. The results suggest that the advertising market of China, the United States and India have significant patterns above the average. The study does not support the RCP, yet they identify important regularities in those countries in relation to the advertising market. The level of activity and international reserves have a significant effect on the advertising market in countries; the higher the share of industry and services (urbanization), the higher the expenses on advertising; the inflation rate is nonlinearly related to the advertising market performance; the economic freedom index and the presence of Generations X and Y are associated with a reduction in advertising expenditure.

Income and Democracy

2008 ◽  
Vol 98 (3) ◽  
pp. 808-842 ◽  
Author(s):  
Daron Acemoglu ◽  
Simon Johnson ◽  
James A Robinson ◽  
Pierre Yared
Keyword(s):  
Instrumental Variables ◽  
Fixed Effects ◽  
Causal Effect ◽  
Statistical Association ◽  
The Past ◽  
Critical Junctures ◽  
Per Capita ◽  
Cross Country ◽  
Development Paths ◽  
Political Economic

Existing studies establish a strong cross-country correlation between income and democracy but do not control for factors that simultaneously affect both variables. We show that controlling for such factors by including country fixed effects removes the statistical association between income per capita and various measures of democracy. We present instrumental-variables estimates that also show no causal effect of income on democracy. The cross-country correlation between income and democracy reflects a positive correlation between changes in income and democracy over the past 500 years. This pattern is consistent with the idea that societies embarked on divergent political-economic development paths at certain critical junctures. (JEL D72, E21)

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