Catching Growth Determinants with the Adaptive Lasso
Ulrike Schneider and
Martin Wagner
No 55, wiiw Working Papers from The Vienna Institute for International Economic Studies, wiiw
Abstract:
This paper uses the adaptive Lasso estimator to determine the variables important for economic growth. The adaptive Lasso estimator is a computationally very simple procedure that can perform at the same time model selection and consistent parameter estimation. The methodology is applied to three data sets, the data used in Sala-i-Martin et al. (2004), in Fernandez et al. (2001) and a data set for the regions in the European Union. The results for the former two data sets are similar in several respects to those found in the published papers, yet are obtained at a negligible fraction of computational cost. Furthermore, the results for the European regional data highlight the importance of human capital for economic growth.
Keywords: adaptive Lasso; economic convergence; growth regressions; model selection (search for similar items in EconPapers)
JEL-codes: C31 C52 O11 O18 O47 (search for similar items in EconPapers)
Pages: 34 pages including 8 Tables and 6 Figures
Date: 2009-06
New Economics Papers: this item is included in nep-cmp and nep-ecm
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Citations: View citations in EconPapers (5)
Published as wiiw Working Paper
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Related works:
Journal Article: Catching Growth Determinants with the Adaptive Lasso (2012) 
Journal Article: Catching Growth Determinants with the Adaptive Lasso (2012) 
Working Paper: Catching Growth Determinants with the Adaptive LASSO (2008) 
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