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Trade openness and economic growth: Bayesian model averaging estimate of cross-country growth regressions

Eriṣ, Mehmet N.; Ulaṣan, Bülent - In: Economic Modelling 33 (2013) C, pp. 867-883

In this paper, we investigate the robustness of the relationship between trade openness and long-run economic growth over the sample period 1960–2000, utilising Bayesian model averaging techniques to account for model uncertainty issues in a systematic manner. We find no evidence that trade...

Persistent link: https://www.econbiz.de/10011048896

Determinants of Economic Growth: A Bayesian Panel Data Approach

Moral-Benito, Enrique - In: The Review of Economics and Statistics 94 (2012) 2, pp. 566-579

Model uncertainty hampers consensus on the key determinants of economic growth. Some recent cross-country cross-sectional analyses have employed Bayesian model averaging to tackle the issue of model uncertainty. This paper extends that approach to panel data models with country-specific fixed...

Persistent link: https://www.econbiz.de/10011009978

The role of model uncertainty and learning in the US postwar policy response to oil prices

Rondina, Francesca - In: Journal of Economic Dynamics and Control 36 (2012) 7, pp. 1009-1041

This paper studies optimal monetary policy in a framework that explicitly accounts for policymakers' uncertainty about the channels of transmission of oil prices into the economy. More specifically, using postwar US data, I examine the evolution of the policy recommendations originating from an...

Persistent link: https://www.econbiz.de/10010871027

The Argentina Paradox: Microexplanations and Macropuzzles

Taylor, Alan M. - C.E.P.R. Discussion Papers - 2014

The economic history of Argentina presents one of the most dramatic examples of divergence in the modern era. What happened and why? This paper reviews the wide range of competing explanations in the literature and argues that, setting aside deeper social and political determinants, the various...

Persistent link: https://www.econbiz.de/10011083510

Testing for Stochastic and Beta-convergence in Latin American Countries

ESCOBARI, Diego - In: Applied Econometrics and International Development 11 (2011) 2

This paper uses time-series data from nineteen Latin American countries and the U.S. to test for income convergence using two existing definitions of convergence and a new testable definition of ?-convergence. Only Dominican Republic and Paraguay were found to pair-wise converge according to the...

Persistent link: https://www.econbiz.de/10009386021

FOREIGN DIRECT INVESTMENT BY SPAIN IN LATIN AMERICA: BRAZIL, ARGENTINA AND MEXICO

MARTINEZ, Elena; JAREÑO, Francisco - In: Applied Econometrics and International Development 14 (2014) 2

This paper analyzes the evolution of Spanish foreign direct investment (FDI) in Latin America in recent years (from the … 1990s through 2012). Additionally, a summary of the primary explanatory factors of FDI evolution in the three countries … offers a significant and adequate (negative) relation as an explanatory factor of FDI evolution. …

Persistent link: https://www.econbiz.de/10010938503

ANALYSIS OF THE COBB-DOUGLAS PRODUCTION FUNCTION AS A TOOL TO INVESTIGATE THE IMPACT OF FDI NET INFLOWS ON GROSS DOMESTIC PRODUCT VALUE IN POLAND IN THE PERIOD 1994–2012

Kosztowniak, Aneta - In: Oeconomia Copernicana 5 (2014) 4, pp. 169-190

parts. Parts I and II present some aspects of the FDI influence on economic growth from the theoretical and empirical point … of view. Part III defines conditions indispensable for the positive FDI impact on the economy of the host country. Part … IV outlines changes of FDI flows in Poland in the period of 1994-2012. Part V includes the main assumptions of the Cobb …

Persistent link: https://www.econbiz.de/10011273730

Capital's long march west : saving and investment frictions in Chinese regions

Cudré, Samuel - 2014

While China has been pivotal in discussions and academic research on global imbalances, little is known about macroeconomic external imbalances among Chinese regions and the factors driving them. We use aggregate regional data and estimate provincial total factor productivity growth over...

Persistent link: https://www.econbiz.de/10010402791

Sectoral FDI and economic growth : evidence from Egyptian governorates

Hanafy, Shima'a - 2015 - This version: 30 November 2015

This paper investigates the effect of sectoral foreign direct investment (FDI) on economic growth in Egypt, using a … theoretical models on the channels through which FDI can enhance economic growth, empirical findings are still inconclusive. We … argue that one possible reason for the ambiguous effect is the use of aggregate FDI data across different sectors. Our …

Persistent link: https://www.econbiz.de/10011403109

Revisiting the FDI-led growth Hypothesis: The case of China

Yalta, A. Yasemin - In: Economic Modelling 31 (2013) C, pp. 335-343

that a statistically significant relationship between FDI and GDP growth does not exist. We also explore whether this … relationship due to this contingency effect. Our results indicate that FDI does not necessarily lead to higher economic growth at … for the formulation of effective macroeconomic policies concerning the flows of FDI. …

Persistent link: https://www.econbiz.de/10010636295

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