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The Empirical Economic Growth Literature

Author

Listed:
  • Raymond J.G.M. Florax

    (Vrije Universiteit Amsterdam)

  • Henri L.F. de Groot

    (Vrije Universiteit Amsterdam)

  • Reinout Heijungs

    (Leiden University)

Abstract

The empirical economic growth literature is criticized for its lack ofrobustness. For different definitions of robustness, conclusions vary from 'almost everycorrelation is fragile' to 'a substantial number of explanatory variables are robust.' Were-analyze the empirical results of the economic growth literature for various alternativedefinitions of robustness using quasi-experiments. The analysis pertains to sign, size andsignificance of the effects, and we relax the quasi-experimental procedure by no longerapplying a set of 'fixed' variables. Response surface analyses of the quasi-experimentsreveal that the number of robust variables is limited, the effects crucially depend on thespecification of conditioning variables, and the default specification based on theconvergence/catch-up model is associated with estimated effects of conditioning variablesthat constitute outliers.

Suggested Citation

  • Raymond J.G.M. Florax & Henri L.F. de Groot & Reinout Heijungs, 2002. "The Empirical Economic Growth Literature," Tinbergen Institute Discussion Papers 02-040/3, Tinbergen Institute, revised 31 Oct 2003.
    • Handle: RePEc:tin:wpaper:20020040
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    Citations

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    Cited by:

    1. Victor Montuenga-Gomez & Melchor Fernandez & Andres Romeu, 2007. "The Link Between Wages and Productivity in Spain," International Review of Applied Economics, Taylor & Francis Journals, vol. 21(2), pages 247-272.
    2. Roberto Leon-Gonzalez & Daniel Montolio, 2004. "Growth, convergence and public investment. A Bayesian model averaging approach," Applied Economics, Taylor & Francis Journals, vol. 36(17), pages 1925-1936.
    3. Sergio J. Rey & Boris Dev, 2004. "Sigma-convergence in the presence of spatial effects," Urban/Regional 0404008, University Library of Munich, Germany, revised 22 Apr 2004.
    4. Mina Baliamoune-Lutz, 2002. "Assessing the Impact of One Aspect of Globalization on Economic Growth in Africa," WIDER Working Paper Series DP2002-91, World Institute for Development Economic Research (UNU-WIDER).

    More about this item

    Keywords

    economic growth; sensitivity analysis; robustness; response surface.;
    All these keywords.

    JEL classification:

    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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