A SENSITIVITY ANALYSIS OF CROSS-COUNTRY GROWTH REGRESSIONS
检验跨国增长回归中结论对条件信息集微小变化的稳健性,发现除投资占GDP比重和贸易占GDP比重外,多数结果不稳健,并澄清了人均产出收敛的条件。
A vast literature uses cross-country regressions to search for empirical linkages between long-run growth rates and a variety of economic policy, political, and institutional indicators. This paper examines whether the conclusions from existing studies are robust or fragile to small changes in the conditioning information set. The authors find that almost all results are fragile. They do, however, identify a positive, robust correlation between growth and the share of investment in GDP and between the investment share and the ratio of international trade to GDP. The authors clarify the conditions under which there is evidence of per capita output convergence. Copyright 1992 by American Economic Association.