The main aim of this paper is to analyse the effect of Common Agricultural Policy (CAP) subsidies on technical efficiency of Polish dairy farms. We have distinguished several types of subsidies and provided an analysis to find out which types are most likely to engender systematic differences in technical efficiency. A balanced panel of microeconomic data on Polish dairy farms over an eight-year period (between 2004 and 2011), taken from the Farm Accountancy Data Network (FADN), is used. The translog production function is estimated by employing the Bayesian approach. The empirical results show that the elasticity of production with respect to livestock is the highest, whereas with respect to feed is the lowest. The mean technical efficiency in the covered period is 83%. The research reveals the negative effect of subsidies on technical efficiency.

The studies using Mincer equations are generally applied to cross-sectional data at the micro-level. There are however limited studies conducted with macro or panel data for wage equations. Pseudo panel data methods can be applied to empirical studies by creating cohorts from repeated cross-sectional data in the absence of genuine panel data. Difference in both the human and labour resources according to the spatial positions may also affect the prediction of the wage equations. We aim to introduce the application of spatial pseudo panel models by creating cohorts according to the birth years of employees and regions in which they live from the Turkish household labour survey for the period 2010-2015. As a result, we find that the spatial autocorrelation model is appropriate for wage equations of Turkey. We also find that return of education on wages is 11% while return of experience on wages is 4%.

This study examines whether the lowering interest-rate environment in CEE countries since the early 2000’s increased bank risk-taking behaviour. We employ 6,979 annual observations from the Bankscope database over the period 1997‒2011 and find a positive relationship between bank risk-taking, measured by risk assets, and interest rates. On the contrary, there is a negative relationsh ipbetween non-performing loans and interest rates. These results are robust across a number of different specifications that account,inter alia, for the potential endogeneity of interest rates and/or the dynamics of bank risk. Moreover, we provide evidence that these findings are mainly driven by the banking sector of the Russian Federation rather than that of the rest CEE countries.

This paper presents an empirical analysis of economic growth in respect of its components, namely input change, technological progress and changes in efficiency. In this work the Bayesian Stochastic Frontier method as well as the output change decomposition procedure, are used in order to evaluate their influence on economic growth. The use of panel data in the study allows for a detailed analysis of economic growth in a given economy and enables the search for general patterns that govern the process. The study is carried using a set of sixteen countries over the period 1995‒2005.

This paper investigates the relationship between energy use and economic development in five South-Asian countries using national-level panel data from 1990 to 2014. Although many studies have already addressed the nexus between energy consumption and economic growth, there is a mixed finding. According to many researchers, South Asian countries have expanded energy consumption since the 1990s. Therefore, energy consumption as a variable for a specific period is considered for the countries of Bangladesh, India, Nepal, Pakistan and Sri Lanka. Furthermore, foreign direct investment (FDI) and international trade (IT) are also considered to be related variables in this study. Pooled ordinary least squares, random effects, and fixed effects estimation techniques are used to provide a reliable estimation, offsetting the country fixed effects. The fixed effect model is the most effective model that reveals the association between electricity usage and growth factors, as per the specification test and Hausman test. A statistically significant correlation was found between international trade, FDI, economic growth, and power usage. FDI has the highest impact on the rising power demand, followed by global commerce and per capita GDP (gross domestic product). More specifically, the study findings reveal that increased power consumption causes more investment, which results in increased economic growth in South Asian countries. The findings of the study further show that FDI significantly impacted upon power consumption and the area of SAARC’s energy demand, resulting in the entry of new technology and an increase in both economic growth and energy consumption. Future policies may focus on investment in the energy sector to promote economic development.