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Book Cover
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]
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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. 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