Doppelhofer, Gernot. <br/><br/>
Determinants of Long-Term Growth:  A Bayesian Averaging of Classical Estimates (BACE) Approach / 
Gernot Doppelhofer, Ronald I. Miller, Xavier Sala-i-Martin. 
 - Cambridge, Mass.  National Bureau of Economic Research  2000. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w7750 .
 - Working Paper Series (National Bureau of Economic Research)  no. w7750. .
<br/><br/> June 2000. 
<br/><br/> This paper examines the robustness of explanatory variables in cross-country economic growth regressions.  It employs a novel approach, Bayesian Averaging of Classical Estimates (BACE), which constructs estimates as a weighted average of  OLS estimates for every possible combination of included variables.  The weights applied to individual regressions are justified on Bayesian grounds in a way similar to the well-known Schwarz criterion.  Of 32 explanatory variables we find 11 to be robustly partially correlated with long-term growth and another five variables to be marginally related.  Of all the variables considered, the strongest evidence is for the initial level of real GDP per capita. 
<br/><br/>
<br/><br/><br/>System requirements: Adobe [Acrobat] Reader required for PDF files. <br/>Mode of access: World Wide Web.