Portuguese tourism demand:a dynamic panel data analysis

This article considers the determinants of Portuguese tourism demand for the period 2004-2013. The econometric methodology uses a panel unit root test and the dynamic panel data (GMM-system estimator). The different techniques of panel unit root (Levin, Lin and Chu; Im, Pesaran and Shin W-stat and augmented Dickey-Fuller - Fisher Chi-square) show that the variables used in this panel are stationary. The dynamic model proves that tourism demand is a dynamic process. The variables relative prices, income per capita, human capital and government spending encourage international tourism demand for Portugal.info:eu-repo/semantics/publishedVersio

Outsourcing, foreign direct investment and tourism demand

This text was developed based on three chapters, namely: fragmentation and outsourcing, in the second chapter we emphasize foreign direct investment and the gravity model and finally the demand for tourism. Throughout the three chapters are used explanatory models that test underlying theoretical hypotheses using econometric models (panel data and time series). The book that is published is a result of the research of the last years.info:eu-repo/semantics/publishedVersio

Energy consumption and foreign direct investment: a panel data analysis for Portugal

This research considers the relationship between energy consumption and foreign direct investment (FDI) for the period 1990-2011. As econometric strategy, we use unit root test and panel data. The empirical results illustrate that the income per capita and political globalization present a positive impact on energy consumption. The selected components of globalization (cultural, social and political) show that these variables promote Portuguese foreign direct investment. The econometric models also considered two control variables, trade openness and exchange rate. These proxies are positively correlated with FDI. The variables of income per capita and the squared income per capita validate the environmental Kuznets curve assumptions.info:eu-repo/semantics/publishedVersio

The relationship between carbon dioxide emissions and Portuguese agricultural productivity

This study analyses the relationship among carbon dioxide emissions, energy consumption, agricultural labour productivity, agricultural land productivity and agricultural raw material exports using a time series for the period 1960-2015. In this article, some theroretical hypotheses are formulated, aiming to explain the bidirectional causality between agricultural productivity and climate change. These hypotheses are tested by using Vector Autoregression (VAR), Granger causality and Vector Error Correction Models (VECM). Results confirm revelant theoretical hypotheses between agricultural productivity and climate change and show that the variables used are stationary. Agricultural labour and land productivity as well as agricultural raw material exports are positively related to CO2 emissions, meaning that these variables stimulate environmental pollution. Empirical results presented in the paper might be of interest to the academic community and also to policymakers.info:eu-repo/semantics/publishedVersio

FOREIGN DIRECT INVESTMENT: LOCALIZATION AND INSTITUTIONAL DETERMINANTS

This article examines the foreign direct investment (FDI) in Portugal, i.e why foreign companies are located in Portugal. The compression of the determinants of FDI is important to take decisions on economic policy. The determinants of the location were used as market size, labour cost, taxes and economic stability. Beyond these were introduced two institutional variables the impact of globalization and corruption on FDI. The study applies a panel data approach (Fixed Effects and GMM system estimator). The results show that the market size and globalization has a positive impact on FDI. The corruption has a negative impact on investor decisions. Wages, inflation and taxes are also statistically significant.Foreign Direct Investment, Panel Data, Portugal, Globalization and Corruption.

Intra-industry trade: The Pakistan experience

The simultaneous exports and imports of a product within country or a particular industry called intra-industry trade (IIT) or two-way trade. In the recent years, the government of Pakistan had realized factors to liberalize the international trade. The literature of international economics demonstrates that this condition (trade liberalization) induces the IIT. The case study for Pakistan has been negligence in the economic literature. This manuscript analyses the Pakistan's intra-industry (IIT) during the period 1980-2006. This study uses country-specific characteristics as explanatory variables. The results indicate that IIT is a negative function of the difference in GDP per capita between Pakistan and their trade partners. Statistically strong evidence is also found that this trade is influence by the similar demand. We also introduce an economic dimension; this proxy confirms the positive effects of IIT. This result reveals the importance of scales economies and the variety of differentiated products. Our results also confirm the hypothesis that trade increases if the transportation costs decrease.Intra-industry trade, Pakistan

Portuguese Foreign Direct Investments Inflows: An Empirical Investigation

This paper examines the link between Portugal’s foreign direct investment (FDI) inflows from European Union (EU-15) countries using panel data and country specific variables for the period 1996-2006. This study applies a static and dynamic panel data approach (Fixed effects and GMM system estimators) to estimate the regression equations. Portugal’s FDI inflows from EU are found to have significant associations with size market, macroeconomic stability, and geographical distance. The inflation seems to have a positive effect on attracting FDI inflows. This result was not expected.FDI; Fixed Effects; GMM-SYS; Portugal.

The Intra Industry Trade between Portugal European Union, Portugal Spain, Portugal-France, Portugal Germany, Portugal-Ireland, Portugal-Greece and Portugal-Netherlands - a Dynamic Panel Data Analysis (1996 2000)

Portugal’s main trade partners have been Spain, Germany and France. In this paper we analyse the intra industry trade in the manufacturing industry between Portugal Spain, Portugal-France, Portugal Germany, Portugal-Ireland and Portugal-Greece. We also present the results of intra industry trade (IIT) between Portugal and the European Union. The innovation, technological progress, human capital, and scale economies are some of the explicative variables of the intra industry trade phenomena. This type of trade is associated with the product differentiation. We consider the panel data models, which are commonly used in the literature, and the recent GMM estimator. One of the objectives of this paper is to verify the estimated models of intra industry trade (IIT), horizontal intra industry trade (HIIT), and vertical intra industry trade (VIIT), and to also verify if the results obtained are different for the partners in analysis. The second objective is to test if the relationship between HIIT and VIIT is determinate by comparative advantages. The third propose is to analyse the results for IIT,HIIT and VIIT with the GMM estimator, and to observe if the models have autocorrelation or specification problems. We will use the m statistics test of Arellano and Bond (1991) and the methodology of Blundell and Bond (1998,2000) to estimated the models.

Migration and Tourist Flows

This study considers the relationship between immigration and Portuguese tourism demand for the period 1995-2008, using a dynamic panel data approach. The findings indicate that Portuguese tourism increased significantly during the period in accordance with the values expected for a developed country. The regression results show that income, shock of immigration, population, and geographical distance between Portugal and countries of origin are the main determinants of Portuguese tourism.Tourism demand; panel data; immigration and Portugal

Country-Specific Determinants of Intra-Industry Trade in Portugal

Based on the theoretical models of Helpman and Krugman (1985), Falvey and Kierzkowski (1987) and Flam and Helpman (1987) and on the empirical studies of Greenaway, Hine and Milner (1994) and Hummels and Levinsohn (1995), we use a static and dynamic panel data approach to test the country-specific determinants of Portuguese intra-industry trade (IIT). We include income variables together with supply-side variables in order to test the demand similarity and factor endowments difference hypotheses. The results suggest that the Linder hypothesis is confirmed and that differences in income levels have a positive (negative) effect on vertical IIT (horizontal IIT and IIT). However, our findings only partially confirm Helpman and Krugman’s theoretical predictions.intra-industry trade; horizontal intra-industry trade; vertical intra-industry trade; Linder hypothesis; dynamic panel data.