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

Open Innovation Clusters: The Case of Cova da Beira Region (Portugal)

This paper aims to reveal the role played by open innovation schemes in the development of new competitive advantages. Furthermore, it aims to present a normative model for networking knowledge clusters, that is, traditional clusters that are applied to the case of the Cova da Beira region (Portugal) such as Agro-Food, Textile, and Public Sector; and a set of emergent clusters that include Bioscience, Biotechnology, Multimedia, Tourism, Health, and Knowledge. In this paper, the basic framework about clusters was expanded, taking as reference the studies of Porter (1985, 1990, 1998, 2005), Feldman (1994), Porter and Stern (2001), and Furman, Porter and Stern (2002). The problematic related to open innovation schemes is integrated in this framework in order to reveal the importance of building new kinds of open innovation networks that don’t involve the geographic concentration of the enterprises. After making a literature review in order to present the analytical framework that includes the clusters theory, a normative model is presented through the development of a case study applied to the Cova da Beira region (Portugal). This option is due to the existence of a local University that has historically interfaced the launching of open-innovation spin-offs into local and international clusters networks. The present paper reveals a high degree of originality, since it contributes to the introduction of the concept of open innovation into the literature about clusters. The main point is that open innovation provides two main implications to build up and leverage both internal and external knowledge into international clusters networks. First, this study presents a basic implication for several agents such as, entrepreneurs, researchers, and policy makers; that is, universities are principals in interfacing the sources of open innovation and the transfer of processes of knowledge into the international clusters networks. Second, it promotes the inclusion of the issue related to the creation of international and institutional networks in the short agenda of the referred agents in order to promote the introduction of new open innovation schemes.Clusters; Entrepreneurship; Institutional Networks; Open Innovation

DEMAND PULL AND SUPPLY PUSH IN PORTUGUESE CABLE TELEVISION

In this paper a Vector Autoregressive Model is applied to the most representative Portuguese cable television operators, in order to obtain a dynamic analysis of the interactivity established between the supply and the demand of network services, through the strategy of vertical integration of services. The results reveal the existence of two driving forces in the Portuguese main cable networks, on the one hand, the supply push which contributes to the enhancement of the basic cable demand, and on the other hand, the demand pull which intensifies the introduction of new vertically integrated services. In the two case studies, it is also detected that vertical integration of services has a negative impact on the price of the basic cable television service.Cable Television, Vector Autoregressive Model, Cointegration.

Interconnection of Cable Networks: A Regulation Proposal for Broadband Internet Services

In this article a brief revision of the European and Portuguese Regulatory frameworks is made, especially in terms of the interconnection of broadband internet services that are offered by cable operators. A formalization with two cable networks is presented, in order to obtain a benchmark for symmetric networks, and two scenarios: collusion and regulated market; are developed. This justifies the implementation of regulatory policies, with the establishment of caps for the interconnection tariffs, in order to assure a larger penetration rate of the broadband internet services and a bigger total welfare.Regulation; Tariffs of Interconnection; Goodwill

The Taylor Effect on the Performances of the Red Devils’ Football Brand

In this paper we present an impact analysis of the regulation associated to the adoption of the Taylor Report, both on business strategy and sportive and financial performances of the Manchester United Football Club. An econometric approach is presented, by using a Cointegrated Vector Autoregressive (CVAR) model. This aims to analyse the impact of the regulation in terms of the national sportive performance, the value added, and the sales of the club, from 1967 to 1997. The importance of the Taylor Report on better national sportive performances of the football club in study is ratified. The growing importance of generating value added as a precedent mechanism that explains the best national sportive performance is confirmed.

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.