Panel Data Analysis Research Articles

Enhancing Rural Economic Sustainability in China Through Agricultural Socialization Services: A Novel Perspective on Spatial-Temporal Dynamics

Rural economic development faces significant challenges in the context of rapid urbanization and agricultural transformation, particularly in developing countries like China. Agricultural socialization services (ASSs) play a crucial role in promoting rural economic sustainability by enhancing household income and fostering regional development. This study investigates the impact of ASSs on rural economic sustainability in China from both temporal and spatial perspectives, employing the entropy weight method, double fixed effects model, and Spatial Durbin Model. Analyzing panel data from 30 Chinese provinces from 2011 to 2021 reveals significant positive effects of ASSs on rural income, along with spatial spillovers to neighboring regions. The results highlight regional heterogeneity in the impact of ASSs, with the eastern region benefiting from local spillovers, while the central and western regions gain from intensification and scale effects. These findings suggest that policymakers should adopt region-specific ASSs strategies, such as facilitating technology transfer in the eastern regions while leveraging intensification and scale advantages in the central and western regions, to optimize the effectiveness of agricultural support measures. Moreover, the relationship between ASSs and rural income exhibits a non-linear trend across various urbanization stages, implying that ASS policies should be tailored to the specific challenges and opportunities associated with different levels of urbanization to maximize their impact on rural economic sustainability. These findings underscore the importance of optimizing ASSs, tailoring policies to local conditions, and harnessing the role of ASSs in the urbanization process to promote inclusive rural development and foster sustainable rural economic growth.

Examining the Drivers and Economic and Social Impacts of Cryptocurrency Adoption

This study investigates the key drivers and the economic and social impacts of cryptocurrency adoption. Based on panel data across 37 countries from 2020 to 2023, this research examines the interplay between cryptocurrency adoption and technology development, monetary policies, and economic and social development. Employing a mixed-methods approach, the research incorporates panel data analysis across multiple countries to explore correlations and causal relationships between these variables. The study found that technology development, measured by the Network Readiness Index (NRI) enables cryptocurrency adoption. Economic conditions measured by higher national inflation rates and monetary policy indicators, including lower interest and exchange rates are the key drivers for cryptocurrency adoption. The empirical findings reveal that cryptocurrency adoption has negative relationships with economic development measured by the GDP growth rate, unemployment rate, and social development represented by the governance quality corruption index. It implies that cryptocurrency is used as a virtual anchor (digital gold) for national inflation. Findings reveal how network readiness, economic conditions, and monetary policies contribute to fostering cryptocurrency adoption, while resulting in impacts on economic growth, labour markets, and governance. The research contributes to the literature by integrating technological, economic, and governance perspectives to elucidate the role of cryptocurrency in reshaping the global economic and social systems.

ESG performance and carbon emission intensity: examining the role of climate policy uncertainty and the digital economy in China’s dual-carbon era

In line with the Sustainable Development Goals (SDGs) proposed by the United Nations and the general direction of global green and low-carbon transformation, China has formulated a dual-carbon target. It aims to peak carbon dioxide emissions by 2030 and strive for carbon neutrality by 2060. Therefore, carbon emission intensity (CEI) has gradually become a research focus. This study investigates the effect of ESG performance on CEI, and explores the moderating effect of climate policy uncertainty (CPU) and the digital economy (DE) on ESG performance and CEI. Provincial-level data in China from 2011 to 2020 was used under the panel data analysis method. The analysis reveals that ESG performance significantly alleviates CEI. In addition, CPU weakens the efficiency of ESG initiatives in decreasing CEI due to regulatory unpredictability, while the digital economy’s expansion, although innovative, may exacerbate CEI in regions dependent on fossil fuels. The study contributes to the literature by highlighting the need for integrated policies that harmonize digital growth with sustainability goals. Additionally, it underscores the significance of considering CPU and DE as critical moderating factors in ESG-CEI dynamics, offering insights for policymakers aiming to balance technological advancement with environmental responsibility.

Environmental effects of foreign direct investment in India: pollution haven or pollution halo?

Purpose There is controversy over whether foreign direct investment (FDI) increases or reduces environmental degradation in host countries resulting in pollution havens or pollution halos. Based on the concept of scale, technology and composition effects, this paper aims to examine the causal relationship between FDI and carbon dioxide (CO2) emissions in India. Design/methodology/approach This paper analyzes panel data of the three most polluting industries between 2005 and 2021 by conducting a Granger causality test. Findings The results provide evidence of pollution havens in the manufacturing and transportation industry, and in the metallurgy and chemical sectors within the manufacturing industry. Research limitations/implications FDI inflows and CO2 emissions are characterized by large regional variations in India. Hence, future studies of the pollution haven vs pollution halo effect in India could therefore use state-level or even district-level data to test for regional variations. Practical implications This paper provides policy recommendations such as increasing the absorptive capacity of local firms to strengthen the technique effect, which would help India combat climate change. Social implications Increasing the absorptive capacity of local firms through incentives such as subsidies and environmental requirements in public contracts can lead to job creation in the green technology sector. This can provide new employment opportunities, especially in R&D and sustainable technology fields, boosting the local economy. Originality/value The study adds to the understanding of the endogenous relationship between FDI and environmental degradation, the importance of lagged feedback responses and the impact of industry- and sector-specific influences on this relationship.

China’s Outward FDI and Globalization’s Impact on CO2 Emissions: A Cross-Country Panel Data Analysis

China’s Outward FDI and Globalization’s Impact on CO2 Emissions: A Cross-Country Panel Data Analysis

Exploring the influence of medical staffing and birth volume on observed-to-expected cesarean deliveries: a panel data analysis of integrated obstetric and gynecological departments in Germany.

Cesarean deliveries account for approximately one-third of all births in Germany, prompting ongoing discussions on cesarean section rates and their connection to medical staffing and birth volume. In Germany, the majority of departments integrate obstetric and gynecological care within a single department. The analysis utilized quality reports from German hospitals spanning 2015 to 2019. The outcome variable was the annual risk-adjusted cesarean section ratio-a metric comparing expected to observed cesarean sections. Explanatory variables included annual counts of physicians, midwives, and births. To account for case number-related staffing variations, full-time equivalent midwife and physician staff positions were normalized by the number of deliveries. Uni- and multivariate panel models were applied, complemented by multiple instrument variable analyses, including two-stage least square and generalized method of moments models. Incorporating data from 509 integrated obstetric departments and 2089 observations, representing 2,335,839 deliveries with 720,795 cesarean sections (over 60% of all inpatient births in Germany), multivariate model with fixed effects revealed a statistically significant positive association between the number of physicians per birth and the risk-adjusted cesarean section ratio (0.004, p = 0.004). Two-stage least square instrument variable analysis (0.020, p < 0.001) and a system GMM estimator models (0.004, p < 0.001) validated these results, providing compelling evidence for a causal relationship. The study established a robust connection between the number of physicians per birth and the risk-adjusted cesarean section ratio in integrated obstetric and gynecological departments in Germany. While the cause of the effect remains unclear, one possible explanation is a lack of specialization within these departments due to the combined provision of both obstetric and gynecological care.

Innovation and the Characteristics of Board of Directors on the Performance of Islamic Banks in Indonesia

This study examines how board characteristics and innovation affect the performance of Islamic banks in Indonesia. It analyzes panel data from 12 banks, observed from 2010 to 2020, using secondary data and quantitative methods. The results show that a board's educational background in business negatively impacts bank performance. In contrast, both board size and innovation have positive effects. Innovation also strengthens the positive link between a board's business education and bank performance. However, it does not moderate the effect of gender diversity on performance. Instead, it moderates the negative relationship between board size and performance. While providing valuable insights, this study is limited by data availability and its focus on the Indonesian Islamic banking sector. Future research should consider additional factors and a broader context to provide a more complete understanding. This can help guide the development of strategies and policies for Islamic banks. Additionally, exploring the role of regulatory frameworks and market conditions could offer deeper insights into the dynamics of bank performance. Received: 24 July 2024 | Revised: 18 November 2024 | Accepted: 24 December 2024 Conflicts of Interest The authors declare that they have no conflicts of interest to this work. Data Availability Statement The data that support this work are available upon reasonable request to the corresponding author. Author Contribution Statement Fhatimah Nur Prawati: Conceptualization, Validation, Investigation, Writing - original draft. Sepya Catur Wulandari: Formal analysis. Nur Wahyuningsih: Resources, Project administration. Samsul Rosadi: Methodology, Software, Writing - review &amp; editing. Ade Setiawan: Supervision, Funding acquisition. Dewi Nurul Mardiana: Data curation, Visualization.

The Role of Good Corporate Governance in Stock Price Determination: Evidence from BRI

Corporate governance refers to the mechanisms and processes that direct and control a company to ensure its operations are efficient and aligned with its objectives. In the context of BRI Bank, the corporate lending program poses a significant risk to its financial stability, especially amidst the ongoing economic crisis. The deterioration in the quality of non-performing loans (NPLs) has implications for evaluating asset and debt risk quality. This study employs a quantitative research method to measure data and generalize the results from a sample to the broader population. The sample consists of BRI Bank companies for the period 2017–2023. A census technique is applied, and the data is analyzed using panel data analysis to assess the relationship between corporate governance and stock prices. The findings reveal that good corporate governance has a significant effect on stock prices when considered collectively. However, when the corporate governance variable is examined individually, it does not show a significant impact on stock prices. These results suggest that while good corporate governance contributes to stock price performance in a combined context, its isolated effect is not as pronounced. The findings highlight the importance of comprehensive governance practices in influencing financial outcomes, particularly in the face of economic challenges.

Unveiling the Impact Skilled Migration has on the Creative Class: Panel Data Analysis for EU Countries

Unveiling the Impact Skilled Migration has on the Creative Class: Panel Data Analysis for EU Countries

Mitigation of regional poverty in East Kalimantan: A village level panel data analysis

Poverty is a specific problem so that programs that pay attention to spatial or demographic aspects are crucial to being able to create programs that are right on target in alleviating poverty. Apart from looking at demographic factors, we also analyze technological and institutional factors. This research aims to develop a Regional Poverty Mitigation Model in the province of East Kalimantan. This model is designed to provide a comprehensive framework for understanding and addressing poverty in the region. The focus of this research is specifically on the problem of poverty in the province of East Kalimantan. The data used in this study is the latest data from the 2021 Village Potential (Podes) of East Kalimantan province, which includes 1039 villages. The method used in this study is a quantitative analysis method using panel data which is then performed regression. The results show that geographical variables (regional areas and bordering the sea) have a negative and significant relationship to poverty in East Kalimantan, and technology has a positive and significant relationship to poverty in East Kalimantan. In addition, institutions (health and education) have a positive and significant relationship to poverty in East Kalimantan.

The contingent effects of economic growth and institutions on income inequality: An empirical study

This study empirically investigates the moderating effects of institutions interacted with economic growth as determinants of cross-country income inequality. For a sample of 43 advanced and developing countries in the OECD and Varieties of Capitalism (VoC) literature over the period of 1995–2019, we test the hypothesis that the income inequality-increasing effects of GDP growth are reduced by robust institutions through interactive terms between economic growth and labour market institutions, gender-based institutions, and governance-based institutions. We use correlated random effects, feasible generalised least squares, and systems-generalised method of moments for panel data analysis using the Gini coefficient for post-tax and post-transfer household disposable income inequality as the dependent variable. Across all models, we find consistently significant statistical evidence for contingency effects between greater GDP growth rates and robust institutions. More specifically, the positive or inequality-increasing effects of greater GDP growth are shown to be reduced by stronger employment protection legislation and greater gender parity in education. Policy implications on inclusive growth thereby call for labour market reforms in terms of employment protection and improved access to education for women.

The Impact of Intelligent Logistics on Logistics Performance Improvement

The logistics industry is essential to global economic development but continues to grapple with challenges related to quality improvement, cost reduction, and efficiency enhancement. Addressing these issues is crucial for promoting high-quality growth within the sector. The emergence of intelligent logistics—leveraging automation, data analytics, and Internet of Things (IoT) technologies—offers a promising approach to transforming traditional logistics operations. This study develops a theoretical framework that integrates these intelligent logistics components to investigate their mechanisms and limitations in influencing logistics performance. Using an empirical analysis of Chinese provincial panel data, we identify significant disparities in logistics industry performance across the provinces, with most regions exhibiting an initial improvement followed by a subsequent decline. Our findings reveal a notable spatial interaction effect between intelligent logistics and logistics performance, indicating that intelligent logistics substantially enhance performance. However, the impact varies by region: it significantly promotes performance in the eastern and western regions but has a limited effect in the central and northeastern regions, potentially due to distortions in production factors and other regional specificities. Additionally, the degree of openness to the outside world positively influences logistics performance in the western region. The proposed mechanisms are validated in all regions except the eastern region. This study provides valuable insights for policymakers on leveraging intelligent logistics to improve logistics industry performance, highlighting the need for region-specific strategies to maximize the benefits of intelligent logistics technologies.

Studying strategic behaviour of small industrial enterprises in the context of the organizational and industry life cycle concepts

Unlike large corporations whose business patterns have been extensively studied and categorized, there is a lack of research on small business strategies, leaving them largely unexplored. The article explores the strategic behaviour of small industrial enterprises in Russia within the organizational and industry life cycle concept. The research methodology is based on strategic management theory and the concept of the life cycle. The research methods include panel data analysis, the Beta coef f icient calculation, and the matrix method. The information base is the reporting data of 134 small enterprises from industries at different stages of the life cycle: metal casting (growth) and newspaper printing (maturity). Statistics for analysis were obtained from the SPARK Interfax database for the period of 1999–2021. We identified three types of strategic behaviour (‘aggressive’, ‘de fender’, and ‘counterstrategy’) and assessed their prevalence among small enterprises in the two industries under consideration. The results showed that mature small enterprises with an ‘aggressive’ intuitively strategic behaviour are the predominant type of business in a mature industry, while for small enterprises in a growing industry ‘defender’ and ‘counterstrategy’ are the prevalent strategies at all the life cycle stages. This paradox additionally proves the validity of our idea of the intuitively strategic behaviour of small businesses. Our findings contribute to the development of the SME life cycle theory and strategic management, can be used to adjust industry policy and government support measures, and can also be of interest to managers of small enterprises.

Possibilities of using the integral index of the border position of regions in econometric estimates of regional development factors

Subject. The article explores the economic development of border regions. Objectives. The study aims to substantiate the application of the integral position index of border regions in econometric estimates of regional development factors based on the analysis of panel data. Methods. The study rests on economic and statistical methods of regional economy research, the neoclassical theory of economic growth, and methods of synthesis, analysis, and generalization. Results. The study shows that using the index enables to increase the effectiveness of econometric estimates when investigating various relationships and factors describing the economic development of border regions. The results of the panel data assessment made it possible to substantiate the conclusion that in order to identify factors affecting the economic development of border regions, it is necessary to analyze panel data designed specifically for border regions. Conclusions. Factors of regional economic development are different for internal regions and for cross-border ones. The calculations helped verify that the border situation does not just affect the economic development of Russian border regions, but has a differentiated effect depending on the length of the State border coinciding with the administrative border of a particular subject of the Federation, combined with the saturation of the cross-border infrastructure.

Does Profitability Influence the CSR-Firm Value Relationship? Evidence from Indonesia Stock Exchange

Research Aims: this study aims to examine the relationship between corporate social responsibility (CSR) engagement and firm value, with a focus on LQ45 companies listed consecutively on the Indonesia Stock Exchange from 2018 to 2022. Additionally, it investigates the moderating role of profitability in this relationship. Design/ methodology/ approach: The study employs panel data analysis using financial data from LQ45 companies over a five-year period (2018–2022). CSR, leverage, liquidity, profitability, and firm value are measured and analyzed to evaluate direct and moderating effects. Research Findings: CSR does not significantly enhance firm value, and in some cases, it negatively affects it, suggesting that the costs associated with CSR may outweigh its benefits in markets where short-term financial performance is prioritized. Regarding the moderating role of profitability in the CSR-firm value relationship; the results indicate no significant moderating effect. Despite this, the inclusion of profitability in the model improves explanatory power, highlighting the complexity of the CSR-profitability-firm value relationship. Theoretical Contribution/ Originality: These findings challenge shareholder theory, particularly in developing markets, where CSR may be perceived as a non-value-adding expense. Firms in such markets should consider CSR strategies to local conditions and prioritize financial sustainability. Future research should explore external factors, such as stakeholder perceptions and regulatory environments, that influence CSR effectiveness.

The Impact of Governance and the Interaction Between FDI and Human Capital on Economic Growth in Arab Countries: A Dynamic Panel Data Analysis

The Impact of Governance and the Interaction Between FDI and Human Capital on Economic Growth in Arab Countries: A Dynamic Panel Data Analysis

The Impact of Exchange Rate and Inflation on Economic Growth: Empirical Evidence from the MENA region using Panel Data Analysis

The volatility of exchange rates and inflation represents a critical challenge to economic stability in the MENA (Middle East and North Africa) region. This study delves into the complex relationship between these macroeconomic factors and economic growth from 2000 to 2023, with a focus on providing actionable insights for policymakers. Using a panel dataset of nine MENA countries, the research employs Feasible Generalized Least Squares (FGLS) to address issues of heteroskedasticity, serial correlation, and cross-sectional dependence, offering a robust analysis of the dynamic interactions. The findings reveal that inflation significantly hampers GDP growth, confirming that rising inflation undermines investment and creates economic uncertainty. In contrast, a more competitive Real Effective Exchange Rate (REER) fosters economic growth by improving export competitiveness, especially in non-oil sectors. Interestingly, the analysis also highlights that imports have a positive effect on GDP growth, emphasizing their role in supporting domestic production through the provision of essential goods and technologies. This study calls for targeted policy measures in the MENA region to stabilize inflation, enhance exchange rate competitiveness, and diversify exports. Such strategies are essential for sustaining economic growth and ensuring long-term economic stability.

Trajectories of Cognitive Function and Predictors Among Older Adults in Korea for 8 Years: A National Panel Data Analysis.

This study aims to examine the trajectory of older adults' cognitive function over time and identify its predictors. Based on the model of neuroplasticity and cognitive reserve, participants' general characteristics as well as their physical, mental, and social factors were included as predictors of cognitive function. A latent growth model analysis was used to examine the trajectory of cognitive function and its predictors. The analysis of the unconditional model revealed that older adults' cognitive function significantly decreased over time. The rate of cognitive decline was significantly related with age, current smoking status, depression scores, number of social activities, time spent in group cognitive activities, and number of individual cognitive activities. The findings identified predictors affecting initial cognitive function and the rate of cognitive decline in older adults. The rate of cognitive decline varies widely among individuals. Identifying these differences is essential for effectively tailoring interventions that address individual needs.

High-zinc rice and randomized nutrition training among women farmers: A panel data analysis of long-term adoption in Bangladesh

Abstract This paper aims to examine the effect of nutrition training on the adoption of high-zinc rice among female farmers with young children in Bangladesh. The authors first conducted a randomized control trial by providing female farmers with micronutrient training in randomly selected villages in May-June 2017, followed by a phone-based survey on high-zinc rice seeds among farmer trainees and counterparts in control villages. We conducted a three-visit panel survey in 2018–2020 to measure the effect of nutrition training on high-zinc rice adoption. We found that the adoption of high-zinc rice in the Aman or rainy season during July-August declined from 59% in 2018 to 8% in 2020 among treated farmers and from 13% to 2% among control farmers. The regression analysis indicated that nutrition training had a significant but diminishing effect on the adoption of high-zinc rice. Unavailability of seeds and low yields were cited as the major reasons for not using high-zinc rice, while lack of knowledge about high-zinc rice was the dominant reason among the control farmers. The results have shown that continuous training, public messaging, and improving seed systems are required to sustain zinc rice adoption. The trainings should tackle the nutritional advantages of biofortified crops to ensure knowledge retention and farm practices and management techniques to achieve optimal production. JEL codes: I12, O33, Q16

Globalization and the Environment: A Path to Sustainable Development for SAARC Nations

This study examines the complex connection between globalization, environmental sustainability, and international climate policy via the lens of the Environmental Kuznets Curve model. Therefore, it examines the aspects of globalization and the consequent CO2 emissions in certain South Asian countries. The paper analyses panel data from 1991 to 2023, employing multiple econometric approaches to substantiate the Environmental Kuznets Curve theory, which elucidates the inverted U-shaped relationship between economic growth and environmental pollution. The study illustrates that economic globalization facilitates technology transfers and the adoption of sustainable practices, resulting in decreased emissions. Conversely, political globalization obstructs environmental advancements due to inadequate governance and the inability to enforce global agreements. Although social globalization now exerts a minimal positive influence on environmental awareness and sustainability, there appears to be an increase in these characteristics. Therefore, the current research advocates for the advancement of contextualized methodologies, emphasizing institutional frameworks, international cooperation, and climate financing. This study contributes to the literature on balancing economic growth with environmental preservation in a highly integrated global economy and provides policy recommendations for developing countries.