Over the past two decades, research institutions around the world have undertaken numerous projects to develop global multi-country input-output (MCIO) databases. This effort has resulted in the creation of several notable databases, including WIOD, Exiobase, GTAP-MRIO, OECD-ICIO, FIGARO, and Eora. These databases have allowed international organizations and countries to conduct comprehensive assessments of socioeconomic, environmental, and trade impacts. The trade-in-value -added indicators, in particular, have been widely used and have undergone detailed evaluations to compare the results across different databases. However, there has been limited examination of the compilation processes and underlying data that contribute to variations in indicators and trade values, and their implications for policy decisions. In this paper, we explored the significant discrepancies in trade policy-relevant indicators depending on the MCIO used, and delved into the reasons behind these deviations.

Using an extended spatial wage equation that introduces novel elements in the weight matrix and the treatment of immigrants' human capital, we analyzed the impact of immigration on wages. Examining the Spanish case at the provincial level as a sort of laboratory over the period 2006–2021, the results indicated a small, negative effect that disappears when immigrants are highly skilled. Furthermore, the empirical evidence does not support an association between the unemployment rate and wages, confirming that Spain's well-known high degree of wage rigidity persisted in the aftermath of the financial and economic crisis of 2008. Our results are shown to be robust across a battery of tests that assess their reliability from different perspectives.

This study analyzed the determinants of gross domestic product (GDP) for Germany and Poland using both linear econometric models and nonlinear machine learning models (decision trees, random forests, XGBoost) on data from 1991 to 2023. By comparing the model outcomes for Germany and Poland, we identified structural differences and uncovered key predictors of economic growth, measured by gross domestic product, over 33 years. Empirical results showed that nonlinear models significantly outperformed linear ones, with XGBoost achieving the best results in Germany, while the decision tree performed best in Poland. We also conducted feature importance analysis to reveal key factors. For Germany, factors such as life expectancy, net migration, and foreign direct investment were the strongest predictors of GDP. In Poland, production volume, life expectancy, urban population, internet usage, foreign direct investment, and unemployment rate emerged as the key drivers of GDP. Our insights highlight the need for specific economic modeling strategies and show how different development paths shape national growth dynamics.

<p>This article proposes a theoretical framework for constructing a new social contract through education based on three levers—affordability, accessibility, and applicability—focusing on Africa. The article argues that if governments make education more affordable, accessible, and applicable, they can ensure a virtuous cycle of trust between the government and people, resulting in policies that deliver equal opportunities, create intergenerational mobility, and reduce poverty. The contribution of the framework lies in providing a foundation for new public policy research on the interaction between sector development (like education) and social contract building. The framework is designed to be sufficiently general to systematically investigate broad trends in public policies and sufficiently flexible to accommodate specific micro-contexts in developing countries.</p>

Export trade has significantly benefited China's economic growth since it joined the World Trade Organization (WTO). However, the literature predominantly emphasizes the economic benefits of trade, with comparatively less attention devoted to its broader social welfare implications. Amidst global health crises, trade stagnation, and diminishing demographic dividends, this paper examines the health consequences of trade, especially the impact of export trade on the health of Chinese residents. Utilizing microlevel data from the China Family Panel Studies (CFPS), integrated with regional macro-data, this paper finds that (1) the growth of export trade can significantly improve the overall health of regional residents, including both subjective and objective health. (2) An analysis of the mechanisms reveals that export trade can improve the health of residents by providing employment opportunities and increasing income levels. Contrary to expectations derived from the pollution haven hypothesis, this study finds that regional export activities are associated with improved local environmental quality through reduced pollutant emissions, which, in turn, improves the health of residents. (3) An exploration of heterogeneity suggests that exports have a greater impact on the health of rural residents, women, and the middle-aged and elderly. This paper contributes to the literature on health economics and trade liberalization, and provides insights that are relevant to the formulation of trade policy, public health, and health service policy in China.

Investment incentives are policy instruments used by governments to stimulate economic growth, attract foreign capital, and develop business activities. This form of government aid plays an important role in decision-making processes regarding localization and host market selection. According to the core-periphery theory, investment incentives aim to reduce regional disparities and support the economic growth and development of structurally disadvantaged regions. Within the Czech Republic, 1070 investment incentives were granted, 599 of which were aimed at foreign investors. The objective of our research was to identify and describe trends and contexts in the development of foreign direct investment (which received an investment incentive) on the national and regional level in the Czech Republic from 1998 to the present (as of October 1, 2024). Overall, one main objective, two research hypotheses, and several partial objectives were defined. Already proven methods in this field, i.e., correlation analyses, the Kruskal-Wallis test, and Moran's coefficient, were used for the fulfilment of the set main objective and partial objectives. The number of foreign direct investments in the Czech Republic has already passed its golden era and similar patterns can be observed for follow-up reinvestments. It was identified that within the research set of 599 granted investment incentives, 113 cases represent reinvestments of original foreign investments. This fact signals that investors are staying in the region long term and shows growing satisfaction with the Czech business environment. However, the volume of these reinvestments has been continuously decreasing since 2014. From the spatial distribution point of view, the Ústí nad Labem Region (CZ042), the Moravian-Silesian Region (CZ072), and the Central Bohemian Region (CZ020) are clearly the most attractive.

<p>We aimed to estimate the housing price determinants and elasticities in Portugal's metropolitan areas to help understand the dynamics of the abnormal price increase of the last decade, one of the highest in Europe and the World.</p> <p>We followed a three-step methodology applying panel data and time series regression estimation. First, we estimated the determinants of housing prices at the national and metropolitan area levels. Second, we split the sample by coastal and inner metropolitan areas and estimated the determinants of housing prices and the supply elasticities of each group. Third, we estimated the correlations between housing price growth and elasticities to find whether these determinants correlate.</p> <p>The results showed that at the national level, housing prices are inelastic to aggregate income (0.112). <italic>Momentum</italic> is the most significant determinant of housing prices (0.760). At the metropolitan areas level, we found an inelastic housing supply, a price-to-income elasticity close to zero, and a more inelastic supply in coastal areas. We found no significant correlation between housing price growth, price-to-income, and supply elasticity. The coastal areas registered housing price growth and a <italic>momentum</italic> effect much higher than the inner areas, suggesting the existence of dynamic speculative forces that cause prices to move beyond what can be explained by equilibrium models.</p> <p>The present study contributes to the literature on housing price dynamics by showing that the conventional equilibrium stock-flow model does not explain the increase in Portugal's current housing prices, suggesting that other forces (such as economic uncertainty and sentiment) determine the housing price dynamics. The explanation for the housing price growth in Portugal is a <italic>conundrum</italic>. We believe this knowledge can help define better housing policies at the local and national levels.</p>

<p>This research intended to identify the techniques and objectives and motivations of creative accounting in the Czech Republic and confirm the responses similarity between two groups of respondents. The views of 318 financial professionals were analyzed through a questionnaire. The statistical Friedman test was used for testing two hypotheses: (H1) There is no difference in the presented results in the techniques of creative accounting between groups of financial professionals (ACPA, CFO, Lender, CPA, and MBA); (H2) There is no difference in the presented results in the objectives and motivations behind creative accounting between groups of financial professionals. This paper shows that the most used techniques are holding open books to record additional sales, delaying shipments, recognizing revenue on partial shipments, and changing inventory values. Common objectives and motivations included reducing earnings volatility, supporting stock prices, increasing income or cash flow, and creating a consensus earnings forecast of analytics. Both hypotheses H1 and H2 were confirmed. The presented article is based on our own research. Using the information obtained, it will be possible for auditors and other authorities to focus on specific areas of creative accounting and its motivations.</p>

<p>A major objective of economic development or growth is poverty reduction, and it is especially a high priority in developing, low-income economies such as Vietnam. Vietnam is an important transition open high-growth economy since Doi Moi in 1987 and with increasing global geopolitical influence in South East Asia but with concerning high poverty incidence. While poverty is recognised internationally as a multidimensional incidence with interdependent relationships among the country's many activities in the sense of Marshall or Haavelmo, rigorous studies with focus on these multidirectional causality issues for Vietnam are currently very limited. The paper addresses these issues by introducing an endogeneity or simultaneous multi-equation modelling approach with World Bank and other international data and system estimation to studying the growth-poverty relationship with Vietnam as a case study. The objective is to explore empirical evidence for this causal relationship with an economy-wide transmission mechanism and with common causality postulates for the improvement of sustainable growth and poverty reduction strategic policy analysis. The main findings show growth-poverty circular causality and the strong impact of growth on poverty reduction and of trade openness on growth. The approach advances the literature, and the findings are also a useful guide for aid consultants, economic researchers, policy makers, nongovernment organizations (NGOs), and official development assistance (ODA) donors in Vietnam in particular and in developing countries in general.</p>

<abstract> <p>The purpose of the article is to substantiate the directions of health tourism development in Czechia. The purpose of the study is the subjects of health tourism: well-known rehabilitation centers in Czechia, medical institutions, health resorts. The methodological basis was formed by the following methods: abstract-logical; statistical; expert evaluation; cluster analysis; piecewise linear approximation. Among the most popular regions of Czechia for health tourism, the main places are Prague, Moravian-Silesia, Olomouc, Plzeň, South Moravian and South Bohemian. The increase in the number of patients among residents of the country and foreigners who use health tourism services is studied. The five leaders among the countries that used the services are identified. The main problems and advantages of health tourism in Czechia are identified. The Czech tourism development strategy for 2021–2030 is analyzed and directions for its implementation are proposed. <bold>Originality / value</bold>: the originality of the study lies in forecasting the directions of health tourism development in Czechia using the method of piecewise linear approximation in the following areas: adults with health insurance; adults at their own expense, children and teenagers, which will increase the volume of income for health tourism institutions in Czechia. According to the forecasting results, the demand for health services will increase by 3% annually. The results of this study can be useful for substantiating the directions of further health tourism development in the country, which will ensure the competitiveness and investment attractiveness of the country.</p> </abstract>