How important is innovation? A Bayesian factor-augmented productivity model on panel data
This paper proposes a Bayesian approach to estimate a factor augmented productivity equation. We exploit the panel dimension of our data and distinguish individual-specific and time-specific factors. On the basis of 21 technology, infrastructure and institution indicators from 82 countries over a 19-year period 1990 to 2008, we construct summary indicators of these three components and estimate their effect on the growth and the international differences in GDP per capita.
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|Date of creation:||2011|
|Date of revision:|
|Contact details of provider:|| Postal: Université Paris-Est Marne La Vallée, 5 bd Descartes, 77454 Champs sur Marne|
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