Determinants of Economic Growth: A Bayesian Panel Data Approach
使用贝叶斯模型平均法处理面板数据中的模型不确定性和内生性问题，发现投资品价格、到世界主要城市的距离和政治权利是经济增长最稳健的决定因素。
Model uncertainty hampers consensus on the key determinants of economic growth. Some recent cross-country cross-sectional analyses have employed Bayesian model averaging to tackle the issue of model uncertainty. This paper extends that approach to panel data models with country-specific fixed effects in order to simultaneously address model uncertainty and endogeneity issues. The empirical findings suggest that in a panel setting, the most robust growth determinants are the price of investment goods, distance to major world cities, and political rights. © 2012 The President and Fellows of Harvard College and the Massachusetts Institute of Technology.