Jointness of Growth Determinants

Gernot Doppelhofer () and Melvyn Weeks ()

Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge

Abstract: Model uncertainty arises from uncertainty about correct economic theories, data issues and empirical specification problems. This paper investigates mutual dependence or jointness among variables in explaining the dependent variable. Jointness departs from univariate measures of variable importance, while addressing model uncertainty and allowing for generally unknown forms of dependence. Positive jointness implies that regressors are complements, representing distinct, but interacting economic factors. Negative jointness implies that explanatory variables are substitutes and act as proxies for a similar underlying mechanism. In a cross-country dataset, we show that jointness among 67 determinants of growth is important, ffecting inference and economic policy.

Keywords: Model Uncertainty; Dependencies among Regressors; Jointness; Determinants of Economic Growth (search for similar items in EconPapers)
JEL-codes: C11 C52 O20 O50 (search for similar items in EconPapers)
Date: 2005-09
New Economics Papers: this item is included in nep-dev
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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Related works:
Working Paper: Jointness of Growth Determinants (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:cam:camdae:0542

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