Rough and lonely road to prosperity: a reexamination of the sources of growth in Africa using Bayesian model averaging
This paper takes a fresh look at Africa's growth experience by using the Bayesian model averaging (BMA) methodology. BMA enables us to consider a large number of potential explanatory variables and sort out which of these variable can effectively explain Africa's growth experience. Posterior coefficient estimates reveal that key engines of growth in Africa are substantially different from those in the rest of the world. More precisely, it is shown that mining, primary exports and initial primary education exerted differential effect on African growth. These results are examined in relation to the existing literature. Copyright © 2008 John Wiley & Sons, Ltd.
Year of publication: |
2008
|
---|---|
Authors: | Masanjala, Winford H. ; Papageorgiou, Chris |
Published in: |
Journal of Applied Econometrics. - John Wiley & Sons, Ltd.. - Vol. 23.2008, 5, p. 671-682
|
Publisher: |
John Wiley & Sons, Ltd. |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Initial Conditions, European Colonialism and Africa's Growth
Papageorgiou, Chris,
-
The Solow model with CES technology: nonlinearities and parameter heterogeneity
Masanjala, Winford H., (2004)
-
The Solow model with CES technology : nonlinearities and parameter heterogeneity
Masanjala, Winford H., (2004)
- More ...