Growth, convergence and public investment. A Bayesian model averaging approach
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.Download Info
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Article provided by Taylor and Francis Journals in its journal Applied Economics.
Volume (Year): 36 (2004)
Issue (Month): 17 ()
Pages: 1925-1936
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Related research
Keywords:Other versions of this item:
- Roberto Leon Gonzalez & Daniel Montolio Estivill, 2003. "Growth, Convergence and Public Investment. A Bayesian Model Averaging Approach," Working Papers in Economics 106, Universitat de Barcelona. Espai de Recerca en Economia.
- Roberto León-González & Daniel Montolio, . "Growth, Convergence And Public Investment. A Bayesian Model Averaging Approach," Working Papers 13-03 Classification-JEL , Instituto de Estudios Fiscales.
- H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
- C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Magnus, Jan R. & Powell, Owen & Prüfer, Patricia, 2010. "A comparison of two model averaging techniques with an application to growth empirics," Journal of Econometrics, Elsevier, vol. 154(2), pages 139-153, February.
- Eicher, Theo S. & Papageorgiou, Chris & Roehn, Oliver, 2007.
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- 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.
- Jesus Crespo-Cuaresma & Neil Foster & Robert Stehrer, 2009. "The Determinants of Regional Economic Growth by Quantile," wiiw Working Papers 54, The Vienna Institute for International Economic Studies, wiiw.
- Daniele VITTORIO, 2009. "Public Spending And Regional Convergence In Italy," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 4(2(8)_Summ).
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