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Author Tsangarides, Charalambos G., author

Title Growth empirics under model uncertainty : is Africa different? / prepared by Charalambos G. Tsangarides
Published Washington, D.C. : International Monetary Fund, [2005]
©2005
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Description 1 online resource (33 pages)
Series IMF working paper ; WP/05/18
IMF working paper ; WP/05/18
Summary This paper attempts to identify robust patterns of cross-country growth behavior in the world as a whole and Africa. It employs a novel methodology that incorporates a dynamic panel estimator, and Bayesian Model Averaging to explicitly account for model uncertainty. The findings indicate that: (i) in addition to initial conditions, various economic factors such as higher investment, lower inflation, lower government consumption, better fiscal stance, improved political environment, exogenous terms-of-trade shocks, and fixed geographical factors are robustly correlated with growth; (ii) what is good for growth around the world is, in principle, also good for growth in Africa; and (iii) political and institutional variables are particularly important in explaining African growth
Bibliography Includes bibliographical references (pages 18-21)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Economic development -- Econometric models.
Africa -- Economic conditions -- Econometric models.
Africa -- Economic policy -- Econometric models.
Form Electronic book
Author International Monetary Fund. African Department, issuing body
ISBN 1451905734
9781451905731