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An analysis of sample selection bias in cross-country growth regressions

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Author Info
Jayant Ray () (Columbia University - Department of International & Public Affairs)
FRANCISCO RIVERA-BATIZ () (Columbia University - Department of International & Public Affairs)

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Abstract

Sample sizes in cross-country growth regressions vary greatly, depending on data availability. But if the selected samples are not representative of the underlying population of nations in the world, ordinary least squares coefficients (OLS) may be biased. This paper re-examines the determinants of economic growth in cross-sectional samples of countries utilizing econometric techniques that take into account the selective nature of the samples. The regression results of three major contributions to the empirical growth literature by Mankiw-Romer-Weil (1992), Barro (1991) and Mauro (1995), are considered and re-estimated using a bivariate selectivity model. Our analysis suggests that sample selection bias could significantly change the results of empirical growth analysis, depending on the specific sample utilized. In the case of the Mankiw-Romer-Weil paper, the value and statistical significance of some of the estimated coefficients change drastically when adjusted for sample selectivity. But the results obtained by Barro and Mauro are robust to sample selection bias.

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Paper provided by Columbia University, Department of Economics in its series Discussion Papers with number 0102-10.

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Length: 45 pages
Date of creation: 2002
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Handle: RePEc:clu:wpaper:0102-10

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  2. Levine, Ross & Zervos, Sara, 1998. "Stock Markets, Banks, and Economic Growth," American Economic Review, American Economic Association, vol. 88(3), pages 537-58, June. [Downloadable!] (restricted)
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  3. Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-61, January. [Downloadable!] (restricted)
  4. Mauro, Paolo, 1995. "Corruption and Growth," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 681-712, August. [Downloadable!] (restricted)
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  7. Eric A. Hanushek & Dennis D. Kimko, 2000. "Schooling, Labor-Force Quality, and the Growth of Nations," American Economic Review, American Economic Association, vol. 90(5), pages 1184-1208, December. [Downloadable!] (restricted)
  8. Easterly, William & Levine, Ross, 1997. "Africa's Growth Tragedy: Policies and Ethnic Divisions," The Quarterly Journal of Economics, MIT Press, vol. 112(4), pages 1203-50, November.
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  9. Knack, Stephen & Keefer, Philip, 1997. "Does Social Capital Have an Economic Payoff? A Cross-Country Investigation," The Quarterly Journal of Economics, MIT Press, vol. 112(4), pages 1251-88, November.
  10. Sachs, Jeffrey D & Warner, Andrew M, 1997. "Sources of Slow Growth in African Economies," Journal of African Economies, Oxford University Press, vol. 6(3), pages 335-76, October.
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  13. Mark Bils & Peter J. Klenow, 2000. "Does Schooling Cause Growth?," American Economic Review, American Economic Association, vol. 90(5), pages 1160-1183, December. [Downloadable!] (restricted)
  14. repec:att:wimass:1920010 is not listed on IDEAS
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