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Determinants of economic growth: Will data tell?

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  • Antonio Ciccone

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  • Marek Jarocinski

Abstract

Many factors inhibiting and facilitating economic growth have been suggested. Can agnostics rely on international income data to tell them which matter? We find that agnostic priors lead to conclusions that are sensitive to differences across available income estimates. For example, the PWT 6.2 revision of the 1960-96 income estimates in the PWT 6.1 leads to substantial changes regarding the role of government, international trade, demography, and geography. We conclude that margins of error in international income estimates appear too large for agnostic growth empirics.

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Bibliographic Info

Paper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 1052.

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Date of creation: Oct 2007
Date of revision: Sep 2009
Handle: RePEc:upf:upfgen:1052

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Web page: http://www.econ.upf.edu/

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Keywords: Growth regressions; robust growth determinants; agnostic Bayesian econometrics;

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