Determinants of Economic Growth in the Developing Countries: An Extreme Bounds Analysis

Fatimah Hosseinpour, Mansour Zarra-Nezhad, Sayed Aziz Arman and Ahmad Salahmanesh
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Fatimah Hosseinpour, Mansour Zarra-Nezhad, Sayed Aziz Arman and Ahmad Salahmanesh: Khorramshahr University of Marine Science and Technology, Shahid Chamran University
Authors registered in the RePEc Author Service: Mansour Zarra Nezhad ()

Journal of Economic Development, 2019, vol. 44, issue 4, 43-67

Abstract: The present study aimed to test the hypothesis of inadequacy of growth theories in developing countries by identifying the robust determinants of economic growth under uncertainty in model selection. The extreme bounds analysis approach was adopted, and nearly 11 million regressions were estimated. Results showed that in developing countries, the behavior of some potential determinants of growth, such as corruption and bureaucracy quality, is against economic growth theories, and some of other variables are weak determinants of growth. The findings also confirmed the power of variables such as investment and trade proxies.

Keywords: Economic Growth; Extreme Bounds Analysis; Developing Countries (search for similar items in EconPapers)
JEL-codes: O1 O40 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:jed:journl:v:44:y:2019:i:4:p:43-67

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