Growth Empirics without Parameters∗

نویسندگان

  • Daniel J. Henderson
  • Chris Papageorgiou
  • Christopher F. Parmeter
چکیده

Recent research on growth empirics has been focused on resolving model and variable uncertainty. The conventional approach has been to assume a linear growth process and then to proceed with investigating the relevant variables that determine cross-country growth. This paper questions the linearity assumption underlying the vast majority of such research and uses recently-developed nonparametric techniques to consider nonlinearities and variable selection jointly. We show that inclusion of nonlinearities is necessary for determining the empirically relevant variables and uncovering key mechanisms of the growth process. We also show how nonparametric methods can sometimes point towards the correct parametric specification. Each of these points are demonstrated by considering specific growth theories. JEL Classification: C12, C14, C15, O10, O40.

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تاریخ انتشار 2010