Chapter 13 Modeling Parameter Heterogeneity in Cross-Country Regression Models

Andros Kourtellos

A chapter in Economic Growth and Development, 2011, pp 367-387 from Emerald Group Publishing Limited

Abstract: We employ various local generalizations of the Solow growth model that model parameter heterogeneity using human development at the beginning of the period with adult literacy rates and life expectancy at birth as a proxy. The model takes the form of a semiparametric varying coefficient model along the lines of Hastie and Tibshirani (1992). The empirical results show substantial parameter heterogeneity in the cross-country growth process, a finding that is consistent with the presence of multiple steady-state equilibria and the emergence of convergence clubs.

Keywords: Solow; growth; model (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:eme:fegzzz:s1574-8715(2011)0000011018

DOI: 10.1108/S1574-8715(2011)0000011018

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