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Specification and sensitivity analysis of cross-country growth regressions

Author

Listed:
  • Thanasis Stengos

    (Department of Economics, University of Guelph, Guelph, Ontario N1G 2W1, Canada)

  • Theofanis P. Mamuneas

    (Department of Economics, University of Leicester, University Road, Leicester, LE1 7RH, UK and University of Cyprus.)

  • Pantelis Kalaitzidakis

    (Department of Economics, University of Crete, Rethimno, Greece 74100 and University of Cyprus.)

Abstract

We compare the sensitivity analysis of cross-country growth regressions based on extreme bounds analysis to a more direct specification testing approach using non-nested hypotheses tests. The results suggest that those specifications that are adequate are also those that include two of the only few conditioning variables that are found to be robust, namely the standard deviation of inflation and the standard deviation of domestic credit.

Suggested Citation

  • Thanasis Stengos & Theofanis P. Mamuneas & Pantelis Kalaitzidakis, 2002. "Specification and sensitivity analysis of cross-country growth regressions," Empirical Economics, Springer, vol. 27(4), pages 645-656.
  • Handle: RePEc:spr:empeco:v:27:y:2002:i:4:p:645-656
    Note: Received: November 2000/Final Version Received: May 2001
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    Citations

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    Cited by:

    1. Leonidas Spiliopoulos, 2005. "What determines macroeconomic volatility? A cross-section and panel data study," Macroeconomics 0505026, University Library of Munich, Germany.
    2. Spiliopoulos, Leonidas, 2010. "The determinants of macroeconomic volatility: A Bayesian model averaging approach," MPRA Paper 26832, University Library of Munich, Germany.
    3. Christie Smith, 2004. "The long-run effects of monetary policy on output growth," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 67, September.

    More about this item

    Keywords

    Specification Testing · Sensitivity Analysis · Growth Regressions.;

    JEL classification:

    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General

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