Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/72682
Authors: 
Wagner, Martin
Hlouskova, Jaroslava
Year of Publication: 
2009
Series/Report no.: 
Reihe Ökonomie / Economics Series, Institut für Höhere Studien (IHS) 236
Abstract: 
This paper offers two innovations for empirical growth research. First, the paper discusses principal components augmented regressions to take into account all available information in well-behaved regressions. Second, the paper proposes a frequentist model averaging framework as an alternative to Bayesian model averaging approaches. The proposed methodology is applied to three data sets, including the Sala-i-Martin et al. (2004) and Fernandez et al. (2001) data as well as a data set of the European Union member states' regions. Key economic variables are found to be significantly related to economic growth. The findings highlight the relevance of the proposed methodology for empirical economic growth research.
Subjects: 
frequentist model averaging
growth regressions
principal components
JEL: 
C31
C52
O11
O18
O47
Document Type: 
Working Paper

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