EconPapers    
Economics at your fingertips  
 

Determinants of economic growth: Different time different answer?

Stephan B. Bruns and John P.A. Ioannidis

Journal of Macroeconomics, 2020, vol. 63, issue C

Abstract: Almost all studies that use Bayesian model averaging to identify robust growth determinants focus on the growth period between 1960 and the 1990s. We apply Bayesian Model Averaging to a rolling time window of 20 and 35 years using a newly compiled dataset with 37 growth determinants for the years 1960 to 2010. Our findings indicate instabilities in the inferences on growth determinants across growth periods. In line with prior research, we find support for robust ambiguity in early growth periods, that is, cross-country growth regressions provide little support for some growth determinants being more important than others. However, determinants related to demography, education, trade, investment and to some extent religion seem to matter in the subsequent growth periods with education and demography being most important in recent growth periods.

Keywords: Bayesian model averaging; Growth regressions; Model uncertainty; Heterogeneity (search for similar items in EconPapers)
JEL-codes: C51 O40 O47 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0164070419300503
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:jmacro:v:63:y:2020:i:c:s0164070419300503

DOI: 10.1016/j.jmacro.2019.103185

Access Statistics for this article

Journal of Macroeconomics is currently edited by Douglas McMillin and Theodore Palivos

More articles in Journal of Macroeconomics from Elsevier
Bibliographic data for series maintained by Haili He ().

 
Page updated 2020-07-25
Handle: RePEc:eee:jmacro:v:63:y:2020:i:c:s0164070419300503