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Economic Development: Evidence from Directed Acyclic Graphs

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  • David A. Bessler
  • Nathan Loper

Abstract

We use directed acyclic graphs to study post‐1970 cross‐section data from 79 world economies and a subset of 59 less developed economies. Openness to trade, government savings and natural resource exports are direct causes of GDP growth rate. Openness to trade and government savings contribute positively and natural resource exports contributes negatively to growth rate in GDP. An institutional quality index, agricultural productivity, life expectancy, initial GDP and a tropical climate dummy are related to but are not direct causes of GDP growth rate in one or more versions of the models uncovered. Implications on modeling are explored.

Suggested Citation

  • David A. Bessler & Nathan Loper, 2001. "Economic Development: Evidence from Directed Acyclic Graphs," Manchester School, University of Manchester, vol. 69(4), pages 457-476, September.
    • Handle: RePEc:bla:manchs:v:69:y:2001:i:4:p:457-476
    DOI: 10.1111/1467-9957.00258
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    Cited by:

    1. Chen, Jing & Han, Qian & Ryu, Doojin & Tang, Jing, 2022. "Does the world smile together? A network analysis of global index option implied volatilities," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 77(C).
    2. Hogun Chong & Mary Zey & David A. Bessler, 2010. "On corporate structure, strategy, and performance: a study with directed acyclic graphs and PC algorithm," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 31(1), pages 47-62.
    3. Haughton, Dominique & Le, Thanh Loan Thi, 2007. "Shifts in Living Standards: The Case of Vietnamese Households 1992-1998," Philippine Journal of Development PJD 2005 Vol. XXXII No. 1, Philippine Institute for Development Studies.
    4. Titus Awokuse, 2006. "Export-led growth and the Japanese economy: evidence from VAR and directed acyclic graphs," Applied Economics, Taylor & Francis Journals, vol. 38(5), pages 593-602.
    5. Selva Demiralp & Kevin Hoover & Stephen Perez, 2014. "Still puzzling: evaluating the price puzzle in an empirically identified structural vector autoregression," Empirical Economics, Springer, vol. 46(2), pages 701-731, March.
    6. Oxley, Les & Reale, Marco & Wilson, Granville Tunnicliffe, 2009. "Constructing structural VAR models with conditional independence graphs," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 79(9), pages 2910-2916.

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