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Institutions, foreign direct investment and growth: a hierarchical Bayesian approach

✍ Scribed by Nadine McCloud; Subal C. Kumbhakar


Book ID
111038821
Publisher
John Wiley and Sons
Year
2011
Tongue
English
Weight
665 KB
Volume
175
Category
Article
ISSN
0964-1998

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## Abstract This paper describes procedures for forecasting countries' output growth rates and medians of a set of output growth rates using Hierarchical Bayesian (HB) models. The purpose of this paper is to show how the γ‐shrinkage forecast of Zellner and Hong (1989) emerges from a hierarchical Ba