The Determinants of Regional Economic Growth by Quantile

Jesús Crespo-Cuaresma, Neil Foster-McGregor and Robert Stehrer
Authors registered in the RePEc Author Service: Jesus Crespo Cuaresma

No 54, wiiw Working Papers from The Vienna Institute for International Economic Studies, wiiw

Abstract: We analyse the robustness of potential determinants of the differences in the long-run growth rate of GDP per capita across EU regions using quantile regression. We propose using Bayesian Model Averaging (BMA) methods on the class of quantile regression models in order to assess the set of relevant covariates in cross-regional growth regressions allowing for different effects across quantiles of the growth variable. The results indicate that the set of robust growth determinants differs across quantiles. The set of robust variables includes skill endowment and initial GDP per capita when not and physical investment when taking country fixed effects into account. However, even when a variable is found to be robust across quantiles the estimated impact on growth of that variable is often found to differ across the quantiles.

Keywords: economic growth; Bayesian Model Averaging; quantile regressions (search for similar items in EconPapers)
JEL-codes: C11 C21 R11 (search for similar items in EconPapers)
Pages: 28 pages including 7 Tables and 4 Figures
Date: 2009-05
New Economics Papers: this item is included in nep-eec, nep-fdg, nep-geo and nep-sbm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Related works:
Journal Article: Determinants of Regional Economic Growth by Quantile (2011)
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