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Growth, convergence and public investment. A Bayesian model averaging approach

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Author Info
Roberto León-González
Daniel Montolio

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Abstract

The aim of this study is twofold. First, the determinants of economic growth are studied among a wide set of potential variables for the Spanish provinces (NUTS3). Among others, various types of private, public and human capital in the group of growth factors are included. Also, it is analysed whether Spanish provinces have converged in economic terms in recent decades. The second objective is to obtain cross-section and panel data parameter estimates that are robust to model specification. For this purpose, a Bayesian Model Averaging (BMA) approach is used. Bayesian methodology constructs parameter estimates as a weighted average of linear regression estimates for every possible combination of included variables. The weight of each regression estimate is given by the posterior probability of each model.

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Article provided by Taylor and Francis Journals in its journal Applied Economics.

Volume (Year): 36 (2004)
Issue (Month): 17 (September)
Pages: 1925-1936
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Handle: RePEc:taf:applec:v:36:y:2004:i:17:p:1925-1936

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  31. Alicia H. Munnell, 1990. "Why has productivity growth declined? Productivity and public investment," New England Economic Review, Federal Reserve Bank of Boston, issue Jan, pages 3-22.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Prüfer, P. & Tondl, G., 2008. "The FDI-Growth Nexus in Latin America: The Role of Source Countries and Local Conditions," Discussion Paper 2008-61, Tilburg University, Center for Economic Research. [Downloadable!]
  2. DANIELE, Vittorio, 2009. "Development Policy, Public Spending and Regional Convergence in Italy (1996-2007)," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 9(2). [Downloadable!] (restricted)
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