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Determinants of economic growth: A varying-coefficient path identification approach

机译:经济增长的决定因素:不同系数路径识别方法

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Identifying the determinants of economic growth is an important issue for policy-decision making. However, the disparities in the conclusions of cross-country growth empirics confuse policymakers. This paper focuses on the divergence of determinants of cross-country growth in Varian (2014) and provides an alternative explanation for the divergence by proposing a novel varying coefficient path identification approach with non-parametric techniques. With this approach, we verify the importance of four variables Initial Income, Life expectancy, Fraction of Confucian, and Equipment Investment, which is consistent with Varian (2014). Meanwhile, we interpret that the divergence of determinants mentioned in Varian (2014) is mainly due to the neglect of the potential non-linearities and cross-country heterogeneity in the growth process. Finally, new features of growth during 1960-2016 are investigated, and the determinants, apart from Initial Income, remain fairly consistent with those during 1960-1992. These conclusions are further confirmed by the convergence test and robustness test.
机译:确定经济增长的决定因素是政策决策的重要问题。然而,差异在跨国增长实证混淆政策制定者的结论。本文重点介绍了Varian(2014)的越野增长的决定因素的分歧,并通过提出具有非参数化技术的新改变系数路径识别方法来提供替代解释。通过这种方法,我们验证了四个变量初始收入,儒家寿命,儒家和设备投资的重要性,这与Varian(2014)符合。同时,我们解释了Varian(2014)中提到的决定因素的分歧主要是由于忽视了生长过程中潜在的非线性和跨国异质性。最后,调查了1960 - 2016年1960 - 2016年增长的新特征,除了初始收入,决定因素与1960-1992期间的初始收入相当一致。通过收敛试验和稳健性测试进一步证实了这些结论。

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