Topic
Spillover effect
About: Spillover effect is a research topic. Over the lifetime, 7869 publications have been published within this topic receiving 167367 citations.
Papers published on a yearly basis
Papers
More filters
TL;DR: In this paper, the authors conduct a meta-analysis of the literature that empirically examines the microeconomic impacts of foreign direct investment (FDI) in Central and Eastern Europe and the former Soviet Union.
65 citations
TL;DR: In this article, the causal relationship between road investments and inventory decline in China was identified. But the causal impact of transport infrastructure on the economy was not investigated. But they did find that one dollar of road spending saves around two cents of inventory costs.
Abstract: This study presents new evidence on the causal impact of transport infrastructure on the economy. In China, inventory has declined over recent decades, while the country’s road infrastructure has expanded rapidly. Building on the existing literature, we introduce new approaches, including a quasi-experiment based on differential demand for distant suppliers, to identify the causal relationship between road investments and inventory decline. Examining a large panel data set of Chinese manufacturers from 1998 to 2007, we find one dollar of road spending saves around two cents of inventory costs. This effect is non-trivial but less than that in the United States in the 1970s. Moreover, our estimates also suggest spillover effect from road investments to firms in neighboring provinces.
65 citations
TL;DR: In this article, the authors examine the effect of immigration into the U.S. housing market, both in terms of rents and single family house prices, and find that an increase in immigration inflows into a particular MSA is associated with increases in rents and with house prices in that MSA while also seeming to drive up rents and prices in neighboring MSAs.
64 citations
TL;DR: An evolving network model of credit risk contagion in the credit risk transfer CRT market is introduced and provides a theoretical framework for considering credit risk spreads in an evolving network context, which is greatly relevant for credit risk management.
Abstract: We introduce an evolving network model of credit risk contagion in the credit risk transfer CRT market. The model considers the spillover effects of infected investors, behaviors of investors and regulators, emotional disturbance of investors, market noise, and CRT network structure on credit risk contagion. We use theoretical analysis and numerical simulation to describe the influence and active mechanism of the same spillover effects in the CRT market. We also assess the reciprocal effects of market noises, risk preference of investors, and supervisor strength of financial market regulators on credit risk contagion. This model contributes to the explicit investigation of the connection between the factors of market behavior and network structure. It also provides a theoretical framework for considering credit risk contagion in an evolving network context, which is greatly relevant for credit risk management.
64 citations
TL;DR: In this paper , the authors investigate the spatial effect of institutional quality on energy efficiency in a panel of 99 countries (economies) for the period 1995-2016 and find that institutional quality matters in energy efficiency improvement and being close to countries with good institutional framework has a positive effect on domestic energy efficiency.
Abstract: Several studies have studied the determinants of energy efficiency. However, the influence of government institutions was mostly ignored as only few studies have provided evidence on the role of institutions in enhancing domestic energy efficiency. In this paper, we extend the previous literature by asking whether neighboring country's institutions could also have an impact on domestic energy efficiency. Thus, with the stochastic frontier approach and spatial econometric model, we investigate the spatial effect of institutional quality on energy efficiency in a panel of 99 countries (economies) for the period 1995–2016. Our results, first confirm the presence of spatial correlations in energy efficiency across countries. Secondly, we discover that the direct positive effect of institutional quality on energy efficiency is such that it overcomes the insignificant indirect negative effect, which suggests a total positive and significant effect. Our results, therefore, indicate that institutional quality matters in energy efficiency improvement and being close to countries with good institutional framework has a positive effect on domestic energy efficiency. Finally, the energy efficiency estimates demonstrate that global energy issue can only be addressed with long-term policies that increases technological progress.
64 citations