Determinants of economic growth: Different time different answer?

Almost all studies that use Bayesian model averaging to identify robust growth determinantsfocusonthegrowthperiodbetween1960andthe1990s.WeapplyBayesianModelAveragingtoa rolling time window of 20 and 35 years using a newly compiled dataset with 37 growth de-terminants for the years 1960 to 2010. Our findings indicate instabilities in the inferences ongrowth determinants across growth periods. In line with prior research, we find support forrobustambiguityinearlygrowthperiods,thatis,cross-countrygrowthregressionsprovidelittlesupportforsomegrowthdeterminantsbeingmoreimportantthanothers.However,determinantsrelatedtodemography,education,trade,investmentandtosomeextentreligionseemtomatterinthesubsequentgrowthperiodswitheducationanddemographybeingmostimportantinre-centgrowthperiods.

Jaar van publicatie:2020

Trefwoorden:Bayesian model averaging, Growth regressions, Model uncertainty, Heterogeneity

BOF-keylabel:ja

IOF-keylabel:ja

BOF-publication weight:0.5

CSS-citation score:1

Auteurs:International

Authors from:Higher Education

Toegankelijkheid:Open