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Growth Effects of Cross-border Mergers and Acquisitions in European Transition Countries


This paper deals with the economic effect of cross-border mergers and acquisitions on GDP per capita in European transition countries for the 2000- 2014 period. Our analysis shows that cross-border mergers and acquisitions have a negative effect on GDP per capita in the current period, whereas their lagged level positively impacts output performance. We found that transition countries characterized by a higher quality of institutional setting have achieved a positive impact on GDP per capita.

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Convergence in GDP per capita across the EU regions— spatial effects


The aim of this paper is to offer an empirical insight into the spatial effects of growth of regional income and disparities across EU regions (NUTS 2). Since regions are spatial units and there are interrelated standard linear regression is not sufficient to evidence the convergence process. Two models (Spatial Lag Model – SLM and Spatial Error model – SEM), derived from spatial econometrics, have been used to identify and explain spatial effects in convergence clubs—all EU countries (EU-28), countries that entered the EU in 2004 (EU-13) and countries that were in EU prior to 2004 (EU-15). Unconditional and conditional β-convergence has been examined in the period 2000-2015 thus covering two financial perspectives (including n + 2 rule3). Dummy variables have been also applied to catch the country-specific effects, such as national policies, legislation, technology progress, etc.

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Greenfield and Brownfield Investments and Economic Growth: Evidence from Central and Eastern European Union Countries

., & López-Bazo, E. (2005). Breaking the panels: An application to the GDP per capita. Econometrics Journal, 8 (2), 159–175. De Mello, L. R. (1999). Foreign direct investment-led growth: evidence from time series and panel data. Oxford Economic Papers, 51 (1), 133-151. Dumitrescu, E. I., & Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling, 29 (4), 1450-1460. Eberhardt, M

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Statistical Analysis of the Development Indicators’ Impacts on E-Commerce of Individuals in Selected European Countries

%20-%20SWD%202013%20217%20FINAL.pdf Eurostat (2014). Information society statistics - households and individuals. Retrieved from Eurostat (2016a). GDP per capita in PPS. Retrieved from Eurostat (2016b). Households with broadband access. Retrieved from

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