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This paper proposes a generalized speci…cation for the panel data model with random e¤ects and …rst-order spatially autocorrelated residuals that encompasses two previously suggested speci…cations. The …rst one is described in Anselin's (1988) book and the second one by Kapoor, Kelejian, and Prucha (2007). Our encompassing speci…ca-tion allows us to test(More)
In this paper, we consider a spatial-autoregressive model with autoregressive disturbances, where we allow for endogenous regressors in addition to a spatial lag of the dependent variable. We suggest a two-step generalized method of moments (GMM) and instrumental variable (IV) estimation approach extending earlier work by, e.g., Kelejian and Prucha (1998,(More)
Egger, Peter, and Pfaffermayr, Michael—The impact of bilateral investment treaties on foreign direct investment This paper uses a large panel of OECD data on stocks of outward foreign direct investment (FDI) to evaluate the impact of bilateral investment treaties. For several variants of the knowledge capital model of multinationals, we demonstrate that(More)
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