Competition and the growth of nations: International evidence from Bayesian model averaging

Georg Man

Economic Modelling, 2015, vol. 51, issue C, 491-501

Abstract: I apply Bayesian model averaging (BMA) and complementary approaches to international data for the time span 1988–2007 in order to find out whether competition in the economic and political arenas is a robust determinant of aggregate growth, and whether there exists jointness among competition variables versus other growth determinants. Several indicators of competition are used, and I control for a range of other factors potentially affecting growth. My results provide some support for the importance and positive impact on growth of financial market competition. No other competition area emerges as robust growth driver. The jointness analysis suggests a moderate degree of complementarity between financial market competition and important growth determinants, implying manageable policy complexity.

Keywords: Bayesian model averaging; Competition; Economic growth; Financial intermediation; Jointness of growth determinants; Robustness analysis (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0264999315002242
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:51:y:2015:i:c:p:491-501

DOI: 10.1016/j.econmod.2015.08.012

Access Statistics for this article

Economic Modelling is currently edited by S. Hall and P. Pauly

More articles in Economic Modelling from Elsevier
Bibliographic data for series maintained by Catherine Liu ().