{
  "title": "Growth Determinants Revisited",
  "publication": "IMF Working Papers, December 1, 2009",
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  "summary": "This paper revisits the cross-country growth empirics debate using a novel Limited Information Bayesian Model Averaging framework to address model uncertainty in the context of a dynamic growth model in panel data with endogenous regressors.",
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    {
      "heading": "Summary",
      "content": "- The paper revisits the cross-country growth empirics debate using a novel Limited Information Bayesian Model Averaging framework to address model uncertainty in the context of a dynamic growth model in panel data with endogenous regressors.\n- Once model uncertainty is accounted for there is strong evidence that initial income, investment, life expectancy, and population growth are robustly correlated with economic growth.\n- The authors also find evidence that debt, openness, and inflation are robust growth determinants.\n- The set of robust growth determinants found in this paper differs from those identified by other studies that incorporate model uncertainty but ignore dynamics and/or endogeneity.\n- The findings underscore the importance of accounting for model uncertainty and endogeneity in the investigation of growth determinants."
    },
    {
      "heading": "Methodology",
      "content": "- Framework used: Limited Information Bayesian Model Averaging.\n- Context: dynamic growth model in panel data with endogenous regressors.\n- Purpose: to address model uncertainty while explicitly accounting for dynamics and endogeneity."
    },
    {
      "heading": "Key empirical findings",
      "content": "- Robustly correlated with economic growth:\n  - initial income\n  - investment\n  - life expectancy\n  - population growth\n- Additional robust determinants identified:\n  - debt\n  - openness\n  - inflation\n- Comparative result:\n  - The identified robust determinants differ from those in studies that ignore dynamics and/or endogeneity even when they incorporate model uncertainty.\n\n---\n\n Content in this bundle\n\n- wp09268\n  - wp09268 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp09268 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/growth-determinants-revisited-23426"
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    "Authors: Charalambos G Tsangarides, Alin T Mirestean",
    "Published: December 1, 2009",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451874136.001",
    "The paper revisits the cross-country growth empirics debate using a novel Limited Information Bayesian Model Averaging framework to address model uncertainty in the context of a dynamic growth model in panel data with endogenous regressors.",
    "Once model uncertainty is accounted for there is strong evidence that initial income, investment, life expectancy, and population growth are robustly correlated with economic growth.",
    "The authors also find evidence that debt, openness, and inflation are robust growth determinants.",
    "The set of robust growth determinants found in this paper differs from those identified by other studies that incorporate model uncertainty but ignore dynamics and/or endogeneity.",
    "The findings underscore the importance of accounting for model uncertainty and endogeneity in the investigation of growth determinants.",
    "Framework used: Limited Information Bayesian Model Averaging.",
    "Context: dynamic growth model in panel data with endogenous regressors.",
    "Purpose: to address model uncertainty while explicitly accounting for dynamics and endogeneity.",
    "Robustly correlated with economic growth:",
    "Additional robust determinants identified:",
    "Comparative result:",
    "**_wp09268**"
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