The DOI matches its Crossref record; 44 of the 44 references it cites were found in a registry or an index.
A Monte Carlo study of growth regressions
Open accessAbstract
Using Monte Carlo simulations, this paper evaluates the bias properties of estimators commonly used to estimate growth regressions derived from the Solow model. We explicitly allow for measurement error, country-specific fixed effects and regressor endogeneity. An OLS estimator applied to a single cross-section of variables averaged over time (the between estimator) performs best in terms of the extent of bias on each of the estimated coefficients. Fixed-effects and the Arellano–Bond GMM estimator overstate the speed of convergence under a wide variety of assumptions, while the between estimator understates it. Finally, fixed effects and Arellano–Bond bias towards zero the slope estimates on the human and physical capital accumulation variables, while the between estimator and the Blundell–Bond system GMM estimator bias these coefficients upwards.
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Cites
Arellano, M., & Bond, S. (1991) · The Review of Economic Studies · doi:10.2307/2297968 · Cited by 33,272
A contribution to the theory of economic growth
Solow, R. M. (1956) · The Quarterly Journal of Economics · doi:10.2307/1884513 · Cited by 24,483
Initial conditions and moment restrictions in dynamic panel data models
Blundell, R., & Bond, S. (1998) · Journal of Econometrics · doi:10.1016/s0304-4076(98)00009-8 · Cited by 22,571
Another look at the instrumental variable estimation of error-components models
Arellano, M., & Bover, O. (1995) · Journal of Econometrics · doi:10.1016/0304-4076(94)01642-d · Cited by 19,880
A Contribution to the Empirics of Economic Growth
Mankiw, N. G., Romer, D., & Weil, D. N. (1992) · The Quarterly Journal of Economics · doi:10.2307/2118477 · Cited by 15,119
(2013) · American Economic Review · doi:10.1257/aer.103.5.i · Cited by 15,100
Initial conditions and moment restrictions in dynamic panel data models
Blundell, R., & Bond, S. (1995) · Working Paper Series · doi:10.1920/wp.ifs.1995.9517 · Cited by 14,755
Economic Growth in a Cross Section of Countries
Barro, R. J. (1991) · The Quarterly Journal of Economics · doi:10.2307/2937943 · Cited by 9,263
The colonial origins of comparative development: An empirical investigation
Acemoglu, D., Johnson, S., & Robinson, J. A. (2001) · American Economic Review · doi:10.1257/aer.91.5.1369 · Cited by 8,517
Economic Growth in a Cross Section of Countries
Barro, R. (1989) · National Bureau of Economic Research · doi:10.3386/w3120 · Cited by 8,385
Cited by
Openness can be good for growth: The role of policy complementarities
Chang, R., Kaltani, L., & Loayza, N. V. (2009) · Journal of Development Economics · doi:10.1016/j.jdeveco.2008.06.011 · Cited by 687
Blunt Instruments: Avoiding Common Pitfalls in Identifying the Causes of Economic Growth
Bazzi, S., & Clemens, M. A. (2013) · American Economic Journal: Macroeconomics · doi:10.1257/mac.5.2.152 · Cited by 640
Woo, J., Kumar, M. S., JWoo@imf.org, & MKumar@imf.org (2010) · IMF Working Papers · doi:10.5089/9781455201853.001 · Cited by 485
The political economy of linguistic cleavages
Desmet, K., Ortuño-Ortín, I., & Wacziarg, R. (2012) · Journal of Development Economics · doi:10.1016/j.jdeveco.2011.02.003 · Cited by 366
Self-citationWhy Don't We See Poverty Convergence?
Ravallion, M. (2012) · American Economic Review · doi:10.1257/aer.102.1.504 · Cited by 330
Metadata
- Authors
- Hauk, W. R., & Wacziarg, R.
- Venue
- Journal of Economic Growth
- Published
- 2009-05-01
- Volume
- 14
- Issue
- 2
- Pages
- 103-147
- ISSN
- 1381-4338 (ISSN-L)
- 1573-7020
- OpenAlex
- W3125413567
- Cited by
- 304
- References
- 44
- FWCI
- 53.99
- Type
- journal article
- Language
- en
- Open access
- hybrid
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
