Determinants of long-term economic Growth redux: A Measurement Error Model Averaging (MEMA) approach

Gernot Doppelhofer (), Ole-Petter Moe Hansen () and Melvyn Weeks ()
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Gernot Doppelhofer: Dept. of Economics, Norwegian School of Economics and Business Administration, Postal: NHH , Department of Economics, Helleveien 30, N-5045 Bergen, Norway, https://www.nhh.no/en/employees/faculty/gernot-peter-doppelhofer/
Ole-Petter Moe Hansen: Dept. of Economics, Norwegian School of Economics and Business Administration, Postal: NHH , Department of Economics, Helleveien 30, N-5045 Bergen, Norway, https://www.nhh.no/en/employees/faculty/ole-petter-moe-hansen/
Melvyn Weeks: University of Cambridge, Postal: University of Cambridge, Faculty of Economics and Clare College, Cambridge CB3 9DD,, UK

No 19/2016, Discussion Paper Series in Economics from Norwegian School of Economics, Department of Economics

Abstract: This paper estimates determinants of long-run growth rates of GDP per capita in a cross section of countries. We propose a novel Measurement Error Model Averaging (MEMA) approach that accounts for measurement error in international income data as well as model uncertainty. Estimating the model using eight vintages of the Penn World Tables (PWT) together with other proposed growth determinants, we identify 18 variables related to economic growth. The results are robust to allowing for outliers in the form of heteroscedastic model errors.

Keywords: growth regression; robust growth determinants; measurement error; Bayesian modelling (search for similar items in EconPapers)
JEL-codes: C11 C82 E01 O47 (search for similar items in EconPapers)
Pages: 55 pages
Date: 2016-12-21
New Economics Papers: this item is included in nep-gro and nep-mac
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Citations: View citations in EconPapers (2)

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