Replication data for: Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach

Principal Investigator(s): View help for Principal Investigator(s) Xavier Sala-I-Martin; Gernot Doppelhofer; Ronald I. Miller

Version: View help for Version V1

Name	File Type	Size	Last Modified
BACE_appendix.pdf	application/pdf	80.2 KB	12/06/2019 10:19:AM
BACE_data.xls	application/vnd.ms-excel	145 KB	12/06/2019 10:19:AM
BACE_variables.txt	text/plain	2.6 KB	12/06/2019 10:19:AM
BACEdata.txt	text/plain	48.7 KB	12/06/2019 10:19:AM
LICENSE.txt	text/plain	14.6 KB	12/06/2019 10:19:AM
README_BACE.txt	text/plain	937 bytes	12/06/2019 10:19:AM
var13_16.pdf	application/pdf	83.9 KB	12/06/2019 10:19:AM
var17_20.pdf	application/pdf	92.3 KB	12/06/2019 10:19:AM
var1_4.pdf	application/pdf	86.8 KB	12/06/2019 10:19:AM
var21_24.pdf	application/pdf	88.5 KB	12/06/2019 10:19:AM

Project Citation:

Sala-I-Martin, Xavier, Doppelhofer, Gernot, and Miller, Ronald I. Replication data for: Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach. Nashville, TN: American Economic Association [publisher], 2004. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-06. https://doi.org/10.3886/E116024V1

Project Description

Summary: This paper examines the robustness of explanatory variables in cross-country economic growth regressions. It introduces and employs a novel approach, Bayesian Averaging of Classical Estimates (BACE), which constructs estimates by averaging OLS coefficients across models. The weights given to individual regressions have a Bayesian justification similar to the Schwarz model selection criterion. Of 67 explanatory variables we find 18 to be significantly and robustly partially correlated with long-term growth and another three variables to be marginally related. The strongest evidence is for the relative price of investment, primary school enrollment, and the initial level of real GDP per capita.

Scope of Project

JEL Classification:
      C51 Model Construction and Estimation
      C52 Model Evaluation, Validation, and Selection
      O47 Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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Published Versions

V1 [2019-12-06]

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