This paper addresses the issue of outliers in finance-growth literature and provides a robust sensitivity analysis of some past studies and an updated data set. We employ the robust regression methods of median quantile regression and least trimmed squares. It shows that the findings of past...

Cross-country regressions are a well-established means of attempting to uncover the empirical determinants of economic growth. However, in an influential paper, Levine and Renelt (1992) demonstrate that the results of these studies are very sensitive to the choice of conditioning variables....