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Determinants of Long-term Economic Development: An Empirical Cross-country Study Involving Rough Sets Theory and Rule Induction

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  • Obersteiner, Michael

    (Institute for Advanced Studies)

  • Wilk, Szymon

    (International Institute for Applied Systems Analysis)

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    Abstract

    Empirical findings on determinants of long-term economic growth are numerous, sometimes inconsistent, highly exciting and still incomplete. The empirical analysis was almost exclusively carried out by standard econometrics. This study compares results gained by cross-country regressions as reported in the literature with those gained by the rough sets theory and rule induction. The main advantages of using rough sets are being able to classify classes and to discretize. Thus, we do not have to deal with distributional, independence, (log-)linearity, and many other assumptions, but can keep the data as they are. The main difference between regression results and rough sets is that most education and human capital indicators can be labeled as robust attributes. In addition, we find that political indicators enter in a non-linear fashion with respect to growth.

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    File URL: http://www.ihs.ac.at/publications/tec/te-11.pdf
    File Function: First version, 1999
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    Bibliographic Info

    Paper provided by Institute for Advanced Studies in its series Transition Economics Series with number 11.

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    Length: 24 pages
    Date of creation: Sep 1999
    Date of revision:
    Handle: RePEc:ihs:ihstep:11

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    Related research

    Keywords: Economic growth; Rough sets; Rule induction;

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    1. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
    2. J. Stiglitz, 1998. "More Instruments and Broader Goals: Moving toward the PostWashington Consensus," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 8.
    3. Sergio Rebelo, 1999. "Long Run Policy Analysis and Long Run Growth," Levine's Working Paper Archive 2114, David K. Levine.
    4. S Durlauf & Danny Quah, 1998. "The New Empirics of Economic Growth," CEP Discussion Papers dp0384, Centre for Economic Performance, LSE.
    5. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    6. Robert J. Barro, 1996. "Determinants of Economic Growth: A Cross-Country Empirical Study," NBER Working Papers 5698, National Bureau of Economic Research, Inc.
    7. Paul Krugman, 1998. "Space: The Final Frontier," Journal of Economic Perspectives, American Economic Association, vol. 12(2), pages 161-174, Spring.
    8. Xavier Sala-i-Martin, 1997. "I just ran four million regressions," Economics Working Papers 201, Department of Economics and Business, Universitat Pompeu Fabra.
    9. Levine, Ross & Renelt, David, 1992. "A Sensitivity Analysis of Cross-Country Growth Regressions," American Economic Review, American Economic Association, vol. 82(4), pages 942-63, September.
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