TY - JOUR
T1 - An integrated panel data approach to modelling economic growth
AU - Feng, Guohua
AU - Gao, Jiti
AU - Peng, Bin
PY - 2021
Y1 - 2021
N2 - Empirical growth analysis is plagued with three problems – variable selection, parameter heterogeneity and cross-sectional dependence – which are addressed independently from each other in most studies. This study is to propose an integrated framework that allows for parameter heterogeneity and cross-sectional error dependence, while simultaneously performing variable selection. We derive the asymptotic properties of the estimator, and apply the framework to a dataset of 89 countries over the period from 1960 to 2014. Our results support the “optimistic” conclusion of Sala-I-Martin (1997), and also reveal some cross-country patterns not found previously.
AB - Empirical growth analysis is plagued with three problems – variable selection, parameter heterogeneity and cross-sectional dependence – which are addressed independently from each other in most studies. This study is to propose an integrated framework that allows for parameter heterogeneity and cross-sectional error dependence, while simultaneously performing variable selection. We derive the asymptotic properties of the estimator, and apply the framework to a dataset of 89 countries over the period from 1960 to 2014. Our results support the “optimistic” conclusion of Sala-I-Martin (1997), and also reveal some cross-country patterns not found previously.
KW - Cross-sectional dependence
KW - Growth regressions
KW - Parameter heterogeneity
KW - Variable selection
UR - http://www.scopus.com/inward/record.url?scp=85099828737&partnerID=8YFLogxK
U2 - 10.1016/j.jeconom.2020.09.009
DO - 10.1016/j.jeconom.2020.09.009
M3 - Article
AN - SCOPUS:85099828737
JO - Journal of Econometrics
JF - Journal of Econometrics
SN - 0304-4076
ER -