Kourtellos, Andros; Stengos, Thanasis; Tan, Chih Ming - Department of Economics and Finance, College of … - 2012
three sources of model uncertainty that characterize cross-country growth data: parameter heterogeneity, theory uncertainty … results in lower growth for countries in the Low-Democracy regime. Our results are consistent with the presence of parameter … heterogeneity in the cross-country growth process due to fundamental determinants of economic growth proposed by the new growth …