Determinants of economic growth: A Bayesian panel data approach

Enrique Moral-Benito

No 1031, Working Papers from Banco de España

Abstract: Model uncertainty hampers consensus on the key determinants of economic growth. Some recent cross-country cross-sectional analyses have employed Bayesian Model Averaging to tackle the issue of model uncertainty. This paper extends that approach to panel data models with country-specific fixed effects in order to simultaneously address model uncertainty and endogeneity issues. The empirical findings suggest that in a panel setting the most robust growth determinants are the price of investment goods, distance to major world cities, and political rights.

Keywords: Growth determinants; model uncertainty; bayesian model averaging; dynamic panel estimation (search for similar items in EconPapers)
JEL-codes: C11 C23 O4 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2010-10
New Economics Papers: this item is included in nep-fdg
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

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http://www.bde.es/f/webbde/SES/Secciones/Publicaci ... o/10/Fic/dt1031e.pdf First version, October 2010 (application/pdf)

Related works:
Journal Article: Determinants of Economic Growth: A Bayesian Panel Data Approach (2012)
Working Paper: Determinants of Economic Growth: A Bayesian Panel Data Approach (2009)
Working Paper: Determinants of Economic Growth: A Bayesian Panel Data Approach (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:1031

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