A non-linear sensitivity analysis of cross-country growth regressions

Pantelis Kalaitzidakis, Theofanis Mamuneas () and Thanasis Stengos

Canadian Journal of Economics, 2000, vol. 33, issue 3, 604-617

Abstract: We extend the sensitivity analysis of cross-country growth regressions of Levine and Renelt (1992) by introducing a semi-parametric formulation of their regression function. Our results differ from theirs in how certain policy variables affect growth rates. We find that distortion variables, such as the standard deviation of gross domestic credit and inflation and real exchange rate distortions, have a robust negative effect on growth.

JEL-codes: C14 O47 (search for similar items in EconPapers)
Date: 2000
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