The Rise and Fall of Cross-Country Growth Regressions
回顾了跨国回归在增长经济学中的使用历史,指出早期解释不当导致对新增长理论证据的夸大,同时认为这些回归在识别增长典型事实方面仍有价值。
This paper discusses the history of the use of cross-country regressions in modern growth economics. These regressions continue to be the workhorse of empirical growth analysis even though their meaning continues to be controversial. I argue that the early interpretations of these regressions have proven to be inappropriate and led to substantial exaggeration of the evidentiary support for various new growth theories. On the other hand, I argue that these regressions have a valuable role to play in identifying the modern analog of stylized facts for growth behavior.