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Methodological problems in cross-country analyses of economic growth

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  • Azam, Jean-Paul
  • Guillaumont, Sylviane

Abstract

Many cross country studies have been conducted over the last twenty years to explain how various factors affect economic growth rates in the developing countries. The data in these studies - which underlie international economic comparisons and serve as the basis for economic policy recommendations - give researchers the systematic and scientific information required for their investigations. But the conclusions are often fragile and sometimes contradictory. This paper finds that research results are sensitive to the choices of components, the aim of the investigation, and the type of model used. In general, researchers need to have better statistical data, particularly on economic policy indicators, and must subject the selected sample to careful tests. Cross-country studies are particularly unreliable when it comes to estimating the economic impact of government budgetary and regulatory policies. These studies thus provide only a weak basis for developing country economic policies.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 22.

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Date of creation: 30 Jun 1988
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Handle: RePEc:wbk:wbrwps:22

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Related research

Keywords: Economic Theory&Research; Achieving Shared Growth; Inequality; Governance Indicators; Economic Conditions and Volatility;

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  1. Kormendi, Roger C. & Meguire, Philip G., 1985. "Macroeconomic determinants of growth: Cross-country evidence," Journal of Monetary Economics, Elsevier, vol. 16(2), pages 141-163, September.
  2. Feder, Gershon, 1983. "On exports and economic growth," Journal of Development Economics, Elsevier, vol. 12(1-2), pages 59-73.
  3. Venieris, Yiannis P & Gupta, Dipak K, 1983. "Sociopolitical and Economic Dimensions of Development: A Cross-Section Model," Economic Development and Cultural Change, University of Chicago Press, vol. 31(4), pages 727-56, July.
  4. Ram, Rati, 1985. "Exports and Economic Growth: Some Additional Evidence," Economic Development and Cultural Change, University of Chicago Press, vol. 33(2), pages 415-25, January.
  5. Wheeler, David, 1984. "Sources of stagnation in sub-Saharan Africa," World Development, Elsevier, vol. 12(1), pages 1-23, January.
  6. Devarajan, Shantayanan & de Melo, Jaime, 1987. "Evaluating participation in African monetary unions: A statistical analysis of the CFA Zones," World Development, Elsevier, vol. 15(4), pages 483-496, April.
  7. Lal, Deepak & Rajapatirana, Sarath, 1987. "Foreign Trade Regimes and Economic Growth in Developing Countries," World Bank Research Observer, World Bank Group, vol. 2(2), pages 189-217, July.
  8. Fry, Maxwell J & Lilien, David M, 1986. "Monetary Policy Responses to Exogenous Shocks," American Economic Review, American Economic Association, vol. 76(2), pages 79-83, May.
  9. Moran, Cristian, 1983. "Export fluctuations and economic growth : An empirical analysis," Journal of Development Economics, Elsevier, vol. 12(1-2), pages 195-218.
  10. Ram, Rati, 1986. "Government Size and Economic Growth: A New Framework and Some Evidencefrom Cross-Section and Time-Series Data," American Economic Review, American Economic Association, vol. 76(1), pages 191-203, March.
  11. Faini, Riccardo & Annez, Patricia & Taylor, Lance, 1984. "Defense Spending, Economic Structure, and Growth: Evidence among Countries and Over Time," Economic Development and Cultural Change, University of Chicago Press, vol. 32(3), pages 487-98, April.
  12. Guillaumont, Patrick & Guillaumont, Sylviane & Plane, Patrick, 1988. "Participating in African monetary unions: An alternative evaluation," World Development, Elsevier, vol. 16(5), pages 569-576, May.
  13. Breusch, T S & Pagan, A R, 1979. "A Simple Test for Heteroscedasticity and Random Coefficient Variation," Econometrica, Econometric Society, vol. 47(5), pages 1287-94, September.
  14. Kavoussi, Rostam M., 1984. "Export expansion and economic growth : Further empirical evidence," Journal of Development Economics, Elsevier, vol. 14(1), pages 241-250.
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