Growth Empirics in Panel Data under Model Uncertainty and Weak Exogeneity

Enrique Moral-Benito

No 1243, Working Papers from Banco de España

Abstract: This paper considers panel growth regressions in the presence of model uncertainty and reverse causality concerns. For this purpose, my econometric framework combines Bayesian Model Averaging with a suitable likelihood function for dynamic panel models with weakly exogenous regressors and fixed effects. An application of this econometric methodology to a panel of countries over the 1960-2000 period indicates that there is no robust determinant of economic growth and that the rate of conditional convergence is indistinguishable from zero.

Keywords: growth regressions; panel data; model uncertainty; bayesian model averaging (search for similar items in EconPapers)
JEL-codes: C11 C23 O40 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2012-12
New Economics Papers: this item is included in nep-ecm and nep-fdg
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Growth Empirics in Panel Data Under Model Uncertainty and Weak Exogeneity (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:1243

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