Download or read book A Sensitivity Analysis of Cross country Growth Regressions written by Ross Levine and published by . This book was released on 1991 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: A vast literature uses cross-country regressions to find empirical links between policy indicators and long-run average growth rates. But conclusions from those studies are fragile if there are small changes in the independent variables.
Download or read book A Sensitivity Analysis of Cross Country Growth Regressions written by Rami Kiwan and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Non Linear Sensitivity Analysis of Cross Country Growth Regressions written by Theofanis P. Mamuneas and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We extend the sensitivity analysis of cross-country growth regressions of Levine and Renelt (1992) by introducing a semi-parametric formulation of their regression function. Our results differ from theirs in how certain policy variables affect growth rates. We find that distortion variables, such as the standard deviation of gross domestic credit and inflation and real exchange rate distortions, have a robust negative effect on growth.
Download or read book On the Sensitivity Analysis of Cross country Growth Regressions written by University of Guelph. Department of Economics and published by . This book was released on 1996 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Robust Sensitivity Analysis of Cross Country Finance Growth Regressions written by Arshad Bhatti and published by . This book was released on 2014 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper addresses the issue of outliers in finance-growth literature and provides a robust sensitivity analysis of some past studies and an updated data set. We employ the robust regression methods of median quantile regression and least trimmed squares. It shows that the findings of past studies are sensitive to outlier observations. Further, we find that the positive effect of financial development on growth disappears and even becomes negative once we use our extended data set of 86 countries over the period 1997-2006. This last finding is consistent with Rousseau and Wachtel (2011). Moreover, we investigate whether our understanding of the finance-growth relationship can further be improved by introducing a measure of R&D into the standard analysis. We note that our measure of R&D has a strong positive effect on growth and may proxy the role of an omitted variable which is highly correlated with economic growth.
Download or read book Cross country Studies of Growth and Policy written by Ross Levine and published by World Bank Publications. This book was released on 1991 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: The design, implementation, and interpretation of cross- country investigations should be improved. This review of conceptual, methodological, and statistical weaknesses in cross- country studies suggests that existing findings warrant only limited confidence.
Download or read book On the Sensivitivity Analysis of Cross country Growth Regressions written by Pantelis Kalaitzidakis and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On the Sensititvity Analysis of Cross country Growth Regressions written by Pantelis Kalaitzidakis and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Analysis of Sample Selection Bias in Cross Country Growth Regressions written by Jayant Ray and published by . This book was released on 2018 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sample sizes in cross-country growth regressions vary greatly, depending on data availability. But if the selected samples are not representative of the underlying population of nations in the world, ordinary least squares coefficients (OLS) may be biased. This paper re-examines the determinants of economic growth in cross-sectional samples of countries utilizing econometric techniques that take into account the selective nature of the samples. The regression results of three major contributions to the empirical growth literature by Mankiw-Romer-Weil (1992), Barro (1991) and Mauro (1995), are considered and re-estimated using a bivariate selectivity model. Our analysis suggests that sample selection bias could significantly change the results of empirical growth analysis, depending on the specific sample utilized. In the case of the Mankiw-Romer-Weil paper, the value and statistical significance of some of the estimated coefficients change drastically when adjusted for sample selectivity. But the results obtained by Barro and Mauro are robust to sample selection bias.
Download or read book Evaluating Specification Search in Cross Country Growth Regressions written by Kevin D. Hoover and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is a substantially revised version of our earlier working paper, "Truth and Robustness in Cross-country Growth Regressions." The most important revisions concern the handling of missing observations in the cross-country data set. In the earlier paper, these had been handled through case-wise deletion-the method common to all previous studies. In this version, they are handled through multiple imputation-a method that retains substantially more of the information content of the data set. Two variants of Leamer's (1983) extreme-bounds analysis are evaluated for their ability to recover the true specification and compared to a cross-sectional version of the general-to-specific search methodology associated with the LSE approach to econometrics. Evaluations are based on a realistic Monte Carlo experiment in which the universe of potential determinants is drawn from those in Levine and Renelt's (1992) study. Levine and Renelt's method is shown to have low size and extremely low power: nothing is robust. Sala-i-Martin's (1997a, b) method is shown to have high size and high power: it is undiscriminating. The general-to-specific methodology is shown to have size near nominal size and high power. Sala-i-Martin's method and the general-to-specific method are then applied to the actual data from Sala-i-Martin's original study. The results are consistent with the Monte Carlo results and suggest that only a few of the 61 potential determinants of growth matter.
Download or read book We Just Averaged over Two Trillion Cross Country Growth Regressions written by Mr.Eduardo Ley and published by International Monetary Fund. This book was released on 1999-07-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the issue of model uncertainty in cross-country growth regressions using Bayesian model averaging (BMA). We find that the posterior probability is distributed among many models, suggesting the superiority of BMA over any single model. Out-of-sample predictive results support that claim. In contrast with Levine and Renelt (1992), our results broadly support the more “optimistic” conclusion of Sala-i-Martin (1997b), namely, that some variables are important regressors for explaining cross-country growth patterns. However, the variables we identify as most useful for growth regression differ substantially from Sala-i-Martin’s results.
Download or read book Weak Instruments in Growth Regressions written by Aart Kraay and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Growth in Latin America written by Mr.Jose De Gregorio and published by International Monetary Fund. This book was released on 1991-07-01 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies growth determinants in 12 Latin American countries during the period 1950-85. In a simple growth accounting framework, the share of labor in income is found to be lower in the sample group than in developed countries, while factor productivity growth accounts for a larger proportion of growth in the fastest growing countries in the sample. Using panel data, macroeconomic stability is found to play, in addition to investment (physical and human), a crucial role in growth. To a lesser extent, growth is negatively correlated with government consumption and political instability. The terms of trade appear to have no significant effect on growth.
Download or read book More Evidence on Income Distribution and Growth written by George R. G. Clarke and published by World Bank Publications. This book was released on with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cross country Growth Regressions written by Jess Benhabib and published by . This book was released on 1997 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Friedrich A Hayek written by John Cunningham Wood and published by Taylor & Francis US. This book was released on 2004 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Politics and Economic Growth written by Aymo Brunetti and published by Development Centre of the Organisation for Economic Co-operation and Development. This book was released on 1997 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:
