Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/72702
Authors: 
Schneider, Ulrike
Wagner, Martin
Year of Publication: 
2008
Series/Report no.: 
Reihe Ökonomie / Economics Series, Institut für Höhere Studien (IHS) 232
Abstract: 
This paper uses the adaptive LASSO estimator to determine the variables important for economic growth. The adaptive LASSO estimator is a computationally very simple procedure that performs at the same time both consistent parameter estimation and model selection. The methodology is applied to three data sets, the data used in Sala-i-Martin et al. (2004), in Fernandez et al. (2001) and a data set for the regions in the European Union. The results for the former two data sets are very similar in many respects to those found in the published papers, yet are obtained at a tiny fraction of computational cost. Furthermore, the results for the regional data highlight the importance of human capital for economic growth.
Subjects: 
adaptive LASSO
economic convergence
growth regressions
model selection
JEL: 
C31
C52
O11
O18
O47
Document Type: 
Working Paper

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