Teal, Francis; Eberhardt, Markus - Department of Economics, Oxford University - 2010
this paper investigates the potential bias arising when aggregate economy data instead of sectoral data is adopted in macro … manufacturing for a panel of 41 developing and developed countries (1963-1992). We employ novel empirical methods which can … assumption. We then investigate the potential for biased estimates due to aggregation and empirical misspecification, relying on …