Access

You are not currently logged in.

Access your personal account or get JSTOR access through your library or other institution:

login

Log in to your personal account or through your institution.

Growth Empirics: A Panel Data Approach -- A Comment

Kevin Lee, M. Hashem Pesaran and Ron Smith
The Quarterly Journal of Economics
Vol. 113, No. 1 (Feb., 1998), pp. 319-323
Published by: Oxford University Press
Stable URL: http://www.jstor.org/stable/2586993
Page Count: 5
  • Download ($42.00)
  • Subscribe ($19.50)
  • Cite this Item
Growth Empirics: A Panel Data Approach -- A Comment
Preview not available

Abstract

This paper comments on recent developments in the literature on the econometric analysis of international growth and convergence. It notes that panel estimates of the neoclassical model, accommodating level effects for individual countries through heterogeneous intercepts, deal with some of the econometric difficulties arising in some of the earlier cross-sectional studies. But it notes that, in dynamic panels, heterogeneity in growth effects and in speeds of convergence renders this estimator inconsistent also. The pervasiveness of such heterogeneity is demonstrated in three samples of countries, and the effects of (incorrectly) imposing homogeneity on estimated parameters are illustrated and discussed.

Page Thumbnails

  • Thumbnail: Page 
[319]
    [319]
  • Thumbnail: Page 
320
    320
  • Thumbnail: Page 
321
    321
  • Thumbnail: Page 
322
    322
  • Thumbnail: Page 
323
    323