Research & development and growth: A Bayesian model averaging analysis

Economic Modelling

Volumn 28, Issue 6, 2011, Pages 2669-2673

  Horvath, Roman ^a,b  

^a CHARLES UNIVERSITY   (Czech Republic)

^b INSTITUTE OF MATHEMATICS   (Czech Republic)

Author keywords

Bayesian model averaging; Growth; Research and development

Indexed keywords

EID: 80052530407     PISSN: 02649993     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.econmod.2011.08.007     Document Type: Article

References (21)

1. Barro R., Sala-i-Martin X. Economic Growth 1995, McGraw-Hill, New York.
2. Durlauf S.N., Kourtelos A., Tan C.-M. Are any growth theories robust?. Economic Journal 2008, 118(3):329-346.
3. Eicher T., Papageorgiou C., Raftery A.E. Default priors and predictive performance in Bayesian model averaging, with application to growth determinants. Journal of Applied Econometrics 2011, 26(1):30-55.
4. Eris M. Population heterogeneity and growth. Economic Modelling 2010, 27(5):1211-1222.
5. Falk M. R&D spending in the high-tech sector and economic growth. Research in Economics 2007, 61(3):140-147.
6. Feldkircher M., Zeugner S. Benchmark Priors Revisited: On Adaptive Shrinkage and the Supermodel Effect in Bayesian Model Averaging. IMF Working Paper 09-202 2009.
7. Fernandez C., Ley E., Steel M. Model uncertainty in cross-country growth regressions. Journal of Applied Econometrics 2001, 16(5):563-576.
8. Fernandez C., Ley E., Steel M. Benchmark priors for Bayesian model averaging. Journal of Econometrics 2001, 16(5):563-576.
9. Foster D.P., George E.I. The risk inflation criterion for multiple regressions. The Annals of Statistics 1984, 22(4):1947-1975.
10. Goel R.K., Payne J.E., Ram R. R&D expenditures and U.S. economic growth: a disaggregated approach. Journal of Policy Modeling 2008, 30(2):237-250.
11. Guellec D., Van Pottelsberghe De La Potterie B. From R&D to productivity growth: do the institutional settings and the source of funds of R&D matter?. Oxford Bulletin of Economics and Statistics 2004, 66(3):353-378.
12. Hasan I., Tucci C.L. The innovation-economic growth nexus: global evidence. Research Policy 2010, 39(10):1264-1276.
13. Henderson, D.J., Papageorgiou, C., Parmeter, C.F., forthcoming. Growth empirics without parameters. Economic Journal. doi:. http://doi:10.1111/j.1468-0297.2011.02460.x.
14. Koop G. Bayesian Econometrics 2003, Wiley, Chicester, UK.
15. Koop G., Poirier D.J., Tobias J. Bayesian Econometric Methods 2007, Cambridge University Press.
16. Lee K., Kim B.-Y. Both institutions and policies matter but differently for different income groups of countries: determinants of long-run economic growth revisited. World Development 2009, 37(3):533-549.
17. Ley E., Steel M. On the effect of prior assumptions in Bayesian model averaging with applications to growth regression. Journal of Applied Econometrics 2009, 24(4):651-674.
18. Liang F., Rui P., German M., Clyde M., Berger J. Mixtures of g-priors for Bayesian Model Selection. Journal of the American Statistical Association 2008, 89(3):1535-1546.
19. Madigan D., York J. Bayesian graphical models for discrete data. International Statistical Review 1995, 63(2):1023-1036.
20. Montgomery J.M., Nyhan B. Bayesian model averaging: theoretical developments and practical applications. Political Analysis 2010, 18(2):245-270.
21. Moral-Benito, E., forthcoming. Determinants of economic growth: a Bayesian panel data approach. Review of Economics and Statistics. doi:. http://doi:10.1162/REST_a_00154.