Determinants of Economic Growth: Will Data Tell?
37 Pages Posted: 6 Jun 2008
There are 2 versions of this paper
Determinants of Economic Growth: Will Data Tell?
Abstract
Many factors inhibiting and facilitating economic growth have been suggested. Will international income data tell which matter when all are treated symmetrically a priori? We find that growth determinants emerging from agnostic Bayesian model averaging and classical model selection procedures are sensitive to income differences across datasets. For example, many of the 1975-1996 growth determinants according to World Bank income data turn out to be irrelevant when using Penn World Table data instead (the WB adjusts for purchasing power using a slightly different methodology). And each revision of the 1960-1996 PWT income data brings substantial changes regarding growth determinants. We show that research based on stronger priors about potential growth determinants is more robust to imperfect international income data.
Keywords: growth regressions, robust growth determinants
JEL Classification: E01, O47
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
By Eduardo Ley and Mark F.j. Steel
-
By Eduardo Ley and Mark F.j. Steel
-
Are Any Growth Theories Robust?
By Steven N. Durlauf, Andros Kourtellos, ...
-
Jointness of Growth Determinants
By Gernot Doppelhofer and Melvyn Weeks
-
Determinants of Economic Growth: Will Data Tell?
By Antonio Ciccone and Marek Jarocinski
-
Growth Empirics Under Model Uncertainty: Is Africa Different?
-
By Theo S. Eicher, Chris Papageorgiou, ...
-
Jointness in Bayesian Variable Selection with Applications to Growth Regression
By Eduardo Ley and Mark F.j. Steel
-
Jointness in Bayesian Variable Selection With Applications to Growth Regression
By Eduardo Ley and Mark F.j. Steel