Higgins et al. (2006) report several statistically significant partial correlates with U.S. per capita income growth. However, Levine and Renelt (1992) demonstrate that such correlations are hardly ever robust to changing the combination of conditioning variables included. We ask whether the same is true for the variables identified as important by Higgins et al. Using the extreme bounds analysis of Levine and Renelt, we find that the majority of the partial correlations can be accepted as robust. The variables associated with those partial correlations stand solidly as variables of interest for future studies of U.S. growth.
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Matthew J. Higgins & Daniel Levy & Andrew T. Young, 2006.
"Heterogeneous Convergence,"
Emory Economics
0615, Department of Economics, Emory University (Atlanta).
[Downloadable!]
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Young, Andrew & Higgins, Matthew & Levy, Daniel, 2006.
"Heterogeneous Convergence,"
MPRA Paper
954, University Library of Munich, Germany.
[Downloadable!]
Levine, Ross, 2005.
"Finance and Growth: Theory and Evidence,"
Handbook of Economic Growth,
in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 12, pages 865-934
Elsevier.
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