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001-es BibID:	BIBFORM074587
Első szerző:	Czeglédi Pál (közgazdász)
Cím:	Institutions and policies of economic freedom: different effects on income and growth / Kapás Judit, Czeglédi Pál
Dátum:	2017
ISSN:	1120-2890 1973-820X
Megjegyzések:	The aim of this paper is to provide some additional results concerning how economic freedom enhances growth and/or long-run income. Our hypothesis is that institutions and policies of economic freedom may have different effects on long-run income and growth, both in terms of their size and working mechanisms. To test our hypothesis, we apply both Acemoglu et al.'s (Am Econ Rev 91(5):1369?401, 2001) and Mankiw et al.'s (Q J Econ 107(2):407?437, 1992) modeling strategies in our cross-country regression analyses. The major finding is that the institutions of economic freedom are of primary importance in economic development: they matter both in the long run and during the catching up period, and have both direct and indirect effects. On the other hand, the effects of economic freedom policies (monetary and fiscal) matter only during the catching up period, with the fiscal policy having a more straightforward effect. Furthermore, the estimates from the two modeling strategies are in line with each other, which can be seen as a further corroboration of our results.
Tárgyszavak:	Társadalomtudományok Közgazdaságtudományok idegen nyelvű folyóiratközlemény külföldi lapban Economic freedom Institutions Economic policy Growth Long-run income
Megjelenés:	Economia Politica. - 34 : 2 (2017), p. 259-282. -
További szerzők:	Kapás Judit (1962-) (közgazdász)
Internet cím:	Szerző által megadott URL DOI Intézményi repozitóriumban (DEA) tárolt változat
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001-es BibID:	BIBFORM094814
Első szerző:	Kapás Judit (közgazdász)
Cím:	The impact of culture on FDI disentangled: separating the "level" and the "distance" effects / Kapás Judit, Czeglédi Pál
Dátum:	2020
ISSN:	1120-2890 1973-820X
Megjegyzések:	he most important concern of this paper centers on the question of whether the difference in inward FDI across countries is a result of the fact that destination countries have different cultures, or the fact that they are more distant culturally from the origin country than others? We argue that answering this question requires disentangling the impact of culture, which consists of separating two effects: the "level" (the former) and the "distance" effect (the latter), which are mixed in the literature, leading in this way to biased conclusions in relation to how cultural distance matters for FDI. In this paper we propose an econometric method to separate the two effects of the culture, in which the key is that cultural distance does not depend on the origin country's culture. Our empirical results indicate a "strong" level effect in the sense that it is a working effect in the case of all the three cultural values we use, and its size is economically significant, as well. The distance effect, however, is at best as important as the level effect but very probably less so, accordingly, it seems that the literature has "overemphasized" the impact of cultural distance.
Tárgyszavak:	Társadalomtudományok Közgazdaságtudományok idegen nyelvű folyóiratközlemény külföldi lapban folyóiratcikk
Megjelenés:	Economia Politica. - 37 : 1 (2020), p. 223-250. -
További szerzők:	Czeglédi Pál (1979-) (közgazdász)
Pályázati támogatás:	K 120686 Egyéb
Internet cím:	Szerző által megadott URL DOI Intézményi repozitóriumban (DEA) tárolt változat
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