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http://hdl.handle.net/2445/123395
Title: | Growth, convergence and public investment. A Bayesian model averaging approach |
Author: | León-González, Roberto Montolio, Daniel |
Keywords: | Política econòmica Inversions públiques Estadística bayesiana Espanya Economic policy Public investments Bayesian statistical decision Spain |
Issue Date: | 2004 |
Publisher: | Taylor and Francis |
Abstract: | The aim of this study is twofold. First, the determinants of economic growth are studied among a wide set of potential variables for the Spanish provinces (NUTS3). Among others, various types of private, public and human capital in the group of growth factors are included. Also, it is analysed whether Spanish provinces have converged in economic terms in recent decades. The second objective is to obtain cross-section and panel data parameter estimates that are robust to model specification. For this purpose, a Bayesian Model Averaging (BMA) approach is used. Bayesian methodology constructs parameter estimates as a weighted average of linear regression estimates for every possible combination of included variables. The weight of each regression estimate is given by the posterior probability of each model. |
Note: | Versió postprint del document publicat a: https://doi.org/10.1080/0003684042000245534 |
It is part of: | Applied Economics, 2004, vol. 36, num. 17, p. 1925-1936 |
URI: | http://hdl.handle.net/2445/123395 |
Related resource: | https://doi.org/10.1080/0003684042000245534 |
ISSN: | 0003-6846 |
Appears in Collections: | Articles publicats en revistes (Economia) |
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523140.pdf | 135.77 kB | Adobe PDF | View/Open |
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