Jesus Crespo Cuaresma (How different is Africa? A comment on Masanjala and Papageorgiou. Journal of Applied Econometrics, 2011) shows that the results in Masanjala and Papageorgiou (Rough and lonely road to prosperity: a reexamination of the sources of growth in Africa using Bayesian model averaging
How different is Africa? A comment on Masanjala and Papageorgiou
β Scribed by Jesus Crespo Cuaresma
- Publisher
- John Wiley and Sons
- Year
- 2010
- Tongue
- English
- Weight
- 76 KB
- Volume
- 26
- Category
- Article
- ISSN
- 0883-7252
- DOI
- 10.1002/jae.1180
No coin nor oath required. For personal study only.
β¦ Synopsis
Masanjala and Papageorgiou (Rough and lonely road to prosperity: a reexamination of the sources of growth in Africa using Bayesian model averaging, Journal of Applied Econometrics 2008; 23(5): 671-682) use Bayesian model averaging to evaluate the existence of parameter heterogeneity between African and non-African countries in the framework of cross-country growth regressions. We show that their results are not robust to the use of a prior over the model space that respects the strong heredity principle put forward by Chipman (Chipman HA. 1996. Bayesian variable selection with related predictors. Canadian Journal of Statistics 24: 17-36) for models including interaction terms.
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