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Meta-Analysis in International Economics
Havránek, Tomáš ; Horváth, Roman (advisor) ; Stanley, Tom (referee) ; Wörz, Julia (referee) ; Vacek, Pavel (referee)
The dissertation consists of three papers presenting applications of meta-analysis in international economics. The first paper examines the effect of common currency on international trade, while the remaining two papers address the relationship between foreign investment and the productivity of domestic firms. An introductory chapter puts these applications into perspective. In the first application I present a meta-analysis of the effect of currency unions on trade, focusing on the euro area. I find strong publication bias in the literature. The estimated trade- promoting effect of currency unions other than the euro reaches more than 60%. In contrast, the euro's trade-promoting effect is insignificant when I correct for publication bias. The empirical literature on this topic shows signs of the so-called economics research cycle: the relation between the reported t-statistics and publication years has an inverse U-shaped form. During the last decade more than 100 researchers have examined productivity spillovers from foreign affiliates to local firms in upstream or downstream sectors. Yet results vary broadly across methods and countries. To examine these vertical spillovers in a systematic way, in the second application I collect 3,626 estimates of spillovers and review the literature quantitatively....
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Essays on Natural Resource Richness, Economic Growth and Institutional Quality
Zeynalov, Ayaz ; Horváth, Roman (advisor) ; Janda, Karel (referee) ; Frensch, Richard (referee) ; Hartwell, Christopher (referee)
Charles University in Prague Faculty of Social Sciences Institute of Economic Studies DISSERTATION THESIS ABSTRACT Essays on Natural Resource Richness, Economic Growth and Institutional Quality Author: Ayaz Zeynalov Supervisor: Doc. Roman Horvath, Ph.D Academic Year: 2016/2017 Abstract This dissertation consists of three empirical papers on natural resource, economic growth and institutional quality. The first paper analyzes possible publication bias and the reason for contradictory findings in the natural resource literature, the second paper examines the effect of natural resource exports on manufacturing performance in the 15 former Soviet Union countries, and the last addresses whether similarities in country income size and at the institutional level encourage increased amounts of bilateral trade between countries. An introductory chapter puts these three papers into perspective. In the first paper, I analyze 43 studies providing 605 different regression specifica- tions and found that approximately 40% report a negative and statistically significant effect, another 40% report no effect, and the remaining 20% report a positive and statistically significant effect of natural resources on economic growth. The findings show that including interaction between natural resources and institutional quality, controlling...
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Income Elasticity of Money Demand: A Meta-Analysis
Sedlaříková, Jana ; Havránek, Tomáš (advisor) ; Šopov, Boril (referee)
The income elasticity of money demand represents an important economic variable which affects money demand function. Precise evaluation of money demand is important for central banking and for determining the transmission mechanism. Nevertheless, there is no general agreement on the exact structure of the function of money demand and income elasticity values neither in theoretical nor practical context. Many different economic theories concerning this field were developed by various economists during the 20th century. There was also a large amount of empirical research whose goal was to estimate the value of income elasticity based on real economic data. However, these studies are characterized by strong heterogeneity of the respective results. The method of meta-analysis is considered to be an effective statistical instrument that allows systematic evaluation of these inconsistent estimates. This method was applied to the dataset consisting of 985 empirical estimates from more than 70 primary studies. The publication selection bias was detected only in the case of using broad monetary aggregates. The resulting estimates adjusted for publication bias range from 0.784 for narrow monetary aggregates to 0.93 for the broadly defined money. In addition, meta- regression analysis revealed correlation...
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Income Elasticity of Gasoline Demand: A Meta-Analysis
Kokeš, Ondřej ; Havránek, Tomáš (advisor) ; Avdulaj, Krenar (referee)
In this thesis I summarize previous studies estimating income elasticity of gasoline demand, analyze the models employed, comment on the evolution of econometric tools used, and finally perform a meta-analysis. This thesis is the first survey on gasoline income elasticity that takes into account publication bias. It also distinguishes between models including car stock information in estimation. I estimate the underlying short-run elasticity to be 0.1, long-run with car stock 0.234, and long-run without car stock 0.644. These results, on average, point to less income-elastic demand for gasoline than what previous surveys found.
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The Role of Financial Development in Economic Growth: A Meta-Analysis
Valíčková, Petra ; Horváth, Roman (advisor) ; Havránek, Tomáš (referee)
This diploma thesis presents a meta-analysis of the accumulated empirical evidence on the relationship between financial development and economic growth. So far, hundreds of studies have been written on the role of financial systems in economic growth; however, their results are ambiguous. This is supported both by theory and empirical research. In order to shed some light on the underlying relationship, narrative literature surveys have been conducted. Nevertheless, the authors of these surveys select representative studies for inclusion subjectively and thus build their results on only a limited set of information. Moreover, due to the nature of their analyses, they cannot systematically assess which factors influence the heterogeneity in reported findings or whether the results are driven by the desire to produce only positive and statistically significant results. Thus, the main focus of our work lies in investigating what the role of financial development in economic growth is, adjusted for possible publication selection, and to systematically explain the heterogeneity behind reported results. For this analysis a pool of available studies investigating the underlying relationship was collected. More specifically, our analysis takes into account data from 67 empirical studies with 1334...
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Dendrochronological dating of catastrophic slope movements
Tumajer, Jan ; Treml, Václav (advisor) ; Burda, Jan (referee)
Mass-movements are one example of natural processes that can pose a serious risk for human beings and their possessions. Dendrochronology, a method capable of their reconstruction, can provide parameters of former events, which can be used for planning protective measures. The possibilities for the application of dendrochronological methods have been tested by means of meta-analysis of electronic and printed scientific articles and a case study focused on former avalanche activity in Schustler's avalanche path (Labský důl, Krkonoše Mts.). The main conclusion of the first one is the clear spatial disproportion of the recent dendrogeomorphological research activities - e.g. the dating of avalanches is typical for mountains of Montana (USA); the Alpine region (mainly Switzerland), on the other hand, absolutely dominates in the research of debris-flows. In the case study, the analysis of material with well-chosen indicators led to high accuracy results comparable with the results of scientific articles focused on avalanches, and made the identification of 14 years (in the period 1953-2007) with potential avalanche acitvity possible. Although methods of dendrogeomorphology are usually neglected in the research of avalanches in the Czech republic, their great potential for future applications is shown....
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Meta-Analysis in Economics: Application to Measuring the Euro's Trade Effect
Polák, Petr ; Havránek, Tomáš (advisor) ; Havránková, Zuzana (referee)
Meta-analysis is a very strong and effective tool designed for the synthesis of results of empirical research. It provides a possibility to make reliable conclusions and offers more systematic and unbiased view at empirical studies than do narrative reviews. This thesis begins with description of meta-analysis from the theoretical point of view and, therefore, is the first Czech-written methodology of modern meta-analysis suitable for economics. This part is followed by an applied meta-analysis that investigates the euro effect on common trade exchange, and the analysis is focused on publication bias and the use of the multilevel random effects model. The empirical part is based on 2580 estimates gathered from 33 studies that investigate the relationship between euro and trade volume. The meta-analysis reveals the presence of publication bias, confirms the economic research cycle hypothesis and estimates, according to the available literature, that the true Rose effect lies probably between 2 and 6 percent.
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Creation and evaluation of information resources in medicine
Janda, Aleš ; Kasal, Pavel (advisor) ; Hendl, Jan (referee) ; Mihál, Vladimír (referee) ; Sumerauer, David (referee)
A field covering generation and evaluation of the medical information is a broad one. During my doctoral studies I focused on medical information mainly using the evidence-based medicine (EBM) principles. This approach leads to the use of currently best available medical data in the treatment of patients. The EBM methodology might be classified into two basic groups: afferent and efferent one. The afferent part is focused on development of information resources whereas the efferent one promotes optimal use of these resources and a critical application of the retrieved facts. Due to practical reasons (to limit extent of the text) I concentrated in the thesis on only one field of my activity. The text deals mainly with afferent part of EBM, namely with formation of a qualitative and quantitative synthesis of knowledge through compilation of a systematic review and meta-analysis. Compilation of systematic reviews of prognostic markers is discussed in a detail. It is a field not appropriately covered in the Czech literature. The practical outcome documented in the thesis is a description of the systematic review of immunohistochemical prognostic markers in intracranial ependymomas that was created and published by our research team. Compilation of this systematic review and meta-analysis was one of the...
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Corporate Tax Competition: A Meta-Analysis
Labíková, Nikol ; Polák, Petr (advisor) ; Schneider, Ondřej (referee)
This thesis provides the first meta-analysis investigating the effect of corporate tax competition among states, with special focus on the effect of the corporate tax rate change in competing country on the corporate tax rate in the home country. It examines 523 estimates from 20 published studies and working papers. Results of the meta-analysis show an evidence of substantial publication selectivity: researchers tend to discard negative and insignificant estimates, which overvalues the estimated effect size. Conducted precision effect test failed to find the evidence for the existence of a genuine effect of corporate tax competition. Empirical analysis shows that differences in the measurement of statutory and effective tax rate matter, thus the analysis was conducted on two separate sub-samples. Meta-regression analysis have found significant impact of variables related to publication bias for both sub-samples. Next to it, the results provide an evidence of significant influence of politically orientated controls, especially of the variable controlling whether or not there were elections in the particular year and state in case when the corporate tax rate changed. Powered by TCPDF (www.tcpdf.org)
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Intracranial Aneurysms - Treatment Options and Natural Course. Safety and Efficacy of Treatment Strategies for Posterior Inferior Cerebellar Artery Aneurysms.
Petr, Ondřej ; Beneš, Vladimír (advisor) ; Haninec, Pavel (referee) ; Přibáň, Vladimír (referee)
BACKGROUND: Posterior inferior cerebellar artery (PICA) aneurysms are an uncommon, heterogeneous group of aneurysms with poorer neurological outcomes compared to other intracranial aneurysms. At first, as part A, we conducted a systematic review of the literature to evaluate the safety and efficacy of treatment strategies for PICA-aneurysms. Subsequently, as part B, we performed a multicenter retrospective study to analyze the outcome in a large series of patients treated with contemporary microsurgical and endovascular techniques. METHODS: For the meta-analysis, a systematic search of Medline, EMBASE, Scopus and Web of Science was done for studies published through November 2015. We included studies that described treatment of PICA-aneurysms with ≥10 patients. Random-effects meta-analysis was used to pool the following outcomes: complete occlusion, technical success, periprocedural morbidity/mortality, stroke rates, aneurysm recurrence/rebleed, CN-palsies rates, and long-term neurological morbidity/mortality. As the second part, aiming to report the current trends and results in treatment strategies for PICA-aneurysms, records of 94 patients treated for PICA-aneurysms between 2000 and 2015 at 3 large referral neurovascular centers were retrospectively reviewed. RESULTS: In the meta-analysis, we...
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