GMM Estimation of empirical growth models

Cite This

Files in this item

Files Size Format View

There are no files associated with this item.

HOEFFLER, Anke, Stephen Roy BOND, Jonathan R.W. TEMPLE, 2001. GMM Estimation of empirical growth models. In: CEPR Discussion Papers / Centre for Economic Policy Research Discussion Papers, 3048. ISSN 0265-8003

@article{Hoeffler2001Estim-46212, title={GMM Estimation of empirical growth models}, year={2001}, issn={0265-8003}, journal={CEPR Discussion Papers / Centre for Economic Policy Research Discussion Papers}, author={Hoeffler, Anke and Bond, Stephen Roy and Temple, Jonathan R.W.}, note={Article Number: 3048} }

<rdf:RDF xmlns:dcterms="" xmlns:dc="" xmlns:rdf="" xmlns:bibo="" xmlns:dspace="" xmlns:foaf="" xmlns:void="" xmlns:xsd="" > <rdf:Description rdf:about=""> <dc:language>eng</dc:language> <dc:creator>Temple, Jonathan R.W.</dc:creator> <bibo:uri rdf:resource=""/> <dcterms:abstract xml:lang="eng">This Paper highlights a problem in using the first-differenced GMM panel data estimator to estimate cross-country growth regressions. When the time series are persistent, the first-differenced GMM estimator can be poorly behaved, since lagged levels of the series provide only weak instruments for subsequent first-differences. Revisiting the work of Caselli, Esquivel and Lefort (1996), we show that this problem may be serious in practice. We suggest using a more efficient GMM estimator that exploits stationarity restrictions and this approach is shown to give more reasonable results than first-differenced GMM in our estimation of an empirical growth model.</dcterms:abstract> <dc:contributor>Hoeffler, Anke</dc:contributor> <void:sparqlEndpoint rdf:resource="http://localhost/fuseki/dspace/sparql"/> <dcterms:isPartOf rdf:resource=""/> <dc:date rdf:datatype="">2019-07-04T09:03:56Z</dc:date> <dc:creator>Hoeffler, Anke</dc:creator> <dspace:isPartOfCollection rdf:resource=""/> <dcterms:issued>2001</dcterms:issued> <dc:contributor>Bond, Stephen Roy</dc:contributor> <dc:contributor>Temple, Jonathan R.W.</dc:contributor> <dc:creator>Bond, Stephen Roy</dc:creator> <dcterms:title>GMM Estimation of empirical growth models</dcterms:title> <dcterms:available rdf:datatype="">2019-07-04T09:03:56Z</dcterms:available> <foaf:homepage rdf:resource="http://localhost:8080/jspui"/> </rdf:Description> </rdf:RDF>

This item appears in the following Collection(s)

Search KOPS


My Account