- Autor
- Próchniak Mariusz (Szkoła Główna Handlowa w Warszawie), Witkowski Bartosz (Szkoła Główna Handlowa w Warszawie)
- Tytuł
- Regulations and economic growth: some empirical evidence based on the Bayesian model pooling
- Źródło
- Roczniki Kolegium Analiz Ekonomicznych / Szkoła Główna Handlowa, 2013, nr 30, s. 139-154, bibliogr. 19 poz.
- Tytuł własny numeru
- II Ogólnopolska Konferencja : Modelowanie danych panelowych : teoria i praktyka
- Słowa kluczowe
- Wzrost gospodarczy, Produkt krajowy brutto (PKB), Wolność gospodarcza
Economic growth, Gross domestic product (GDP), Economic freedom - Uwagi
- streszcz., summ.
- Abstrakt
- The paper aims to assess the impact of regulations (measured by the Heritage Foundation index of economic freedom) on economic growth. The method of the analysis is based on growth regressions where economic freedom is included in the set of explanatory variables, along with some other control factors. The dependent variable is GDP per capita growth rate. In order to be robust to the selection of explanatory variables, the paper uses Bayesian model pooling applied to Blundell and Bond's GMM system estimator. Another innovative aspects are: the use of 'moving' panel data in which subsequent observations cover observations from partly overlapping periods as well as the inclusion of nonlinearities. The results show that the level of and the change in economic freedom both reveal a positive and nonlinear relationship with economic growth. A given increase in economic freedom has a greater impact on economic growth in those countries that are economically not (or partly) free(original abstract)
- Dostępne w
- Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka SGH im. Profesora Andrzeja Grodka
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu - Bibliografia
-
- Barro R. J., Sala-i-Martin X., Economic Growth, The MIT Press, Cambridge-London 2003.
- Bergh A., Karlsson M., Government Size and Growth: Accounting for Economic Freedom and Globalization, "Public Choice" 2010, vol. 142, pp. 195-213.
- Bernardelli M., Metoda szybkiej aktualizacji dekompozycji QR dla modeli liniowej regresji, "Roczniki" Kolegium Analiz Ekonomicznych SGH, issue 27, Oficyna Wydawnicza SGH, Warszawa 2012, pp. 55-68.
- Blundell R., Bond S., Initial Conditions and Moment Restrictions in Dynamic Panel Data Models, "Journal of Econometrics" 1998, vol. 87, pp. 115-143.
- De Haan J., Lundström S., Sturm J.-E., Market-Oriented Institutions and Policies and Economic Growth: A Critical Survey, "Journal of Economic Surveys" 2006, vol. 20, pp. 157-191.
- Goczek Ł., Analiza empiryczna regulacji gospodarki w kontekście innowacyjności i produktywności, in: Innowacje i implikacje interdyscyplinarne, ed. Z. Zieliński, Kielce 2011, pp. 324-333.
- Goczek Ł., Przegląd i ocena ekonometrycznych metod używanych w modelach empirycznych wzrostu gospodarczego, "Gospodarka Narodowa" 2012, t. 10, s. 49-73.
- Heritage Foundation, Index of Economic Freedom, 2013, http://www.heritage. org/index/.
- Heston A., Summers R., Aten B., Penn World Table Version 7.1, Center for International Comparisons of Production, Income and Prices at the University of Pennsylvania, November 2012, http://pwt.econ.upenn.edu/.
- IMF, World Economic Outlook Database, October 2012, http://www.imf.org/.
- Kim J.-Y., Limited Information Likelihood and Bayesian Analysis, "Journal of Econometrics" 2002, vol. 107, pp. 175-193.
- Moral-Benito E., Model Averaging in Economics, "Bank of Spain Working Paper", no. 1123, Madrid 2011.
- Pääkkönen J., Economic Freedom as Driver of Growth in Transition, "Economic Systems" 2010, vol. 34, pp. 469-479.
- Peev E., Mueller D. C., Democracy, Economic Freedom and Growth in Transition Economies, "Kyklos" 2012, vol. 65, pp. 371-407.
- Próchniak M., Witkowski B., Bayesian Model Averaging in Modelling GDP Convergence with the Use of Panel Data, "Roczniki" Kolegium Analiz Ekonomicznych SGH, issue 26, Oficyna Wydawnicza SGH, Warszawa 2012, pp. 45-60.
- Próchniak M., Witkowski B., Time Stability of the Beta Convergence among EU Countries: Bayesian Model Averaging Perspective, "Economic Modelling" 2013, vol. 30, pp. 322-333.
- Sala-i-Martin X., Doppelhofer G., Miller R., Determinants of Long-Term Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach, "American Economic Review" 2004, vol. 94, pp. 813-835.
- Williamson C. R., Mathers R. L., Economic Freedom, Culture, and Growth, "Public Choice" 2011, vol. 148, pp. 313-335.
- World Bank, World Development Indicators and Education Statistics, 2013, http:// databank.worldbank.org/data/databases.aspx.
- Cytowane przez
- ISSN
- 1232-4671
- Język
- eng
